It’s not just these three companies, either. The report, published by the New Climate Institute and Carbon Market Watch, finds that 25 of the world’s most valuable companies, which together accrued $3.2 trillion in revenue in 2020 and accounted for 5% of global greenhouse-gas emissions in 2019, have climate plans that are weaker than how they’ve been marketed so far.
Carrefour doesn’t count the emissions from its branded shops or upstream and downstream emissions, the report says, which make up almost all of its carbon footprint. Nestlé and Unilever don’t offset their own emissions but they back individual consumer brands in their portfolio to do so. And JBS states its facilities will be powered exclusively by renewable energy by 2040, but the report says it doesn’t give information about its current and planned renewable energy supply.
Google said it clearly defined the scope of its climate commitments, acknowledging that “100% renewable energy match and high-quality offsetting is only a step” toward its net-zero goal. JBS called the report’s methodology “misleading” and said that it had “established important milestones” to net zero.
Among the companies to earn good marks was Maersk, which is investing in nature-based solutions to remove around 5 million metric tons of CO2 every year until 2030, without claiming that this will neutralise its emissions. Likewise, Apple already sources almost all of its energy from long-term agreements with renewable developers and its own installations, and it also backs the creation of energy storage systems.
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Think Greta must go and picket. Wonder if these companies have representatives in Davos annually?