REUTERS
Roughly half of the Forbes 2000 largest companies have yet to announce plans to reach net-zero — the point at which greenhouse gas emissions are negated by deep cuts in output as well as methods to absorb atmospheric carbon dioxide. Of the 702 companies with a net-zero target, two-thirds haven’t made it clear how they plan to achieve that goal, Net Zero Tracker found in their annual report.
“We see a lot of issues with credibility, and the quality and robustness of these targets,” said report co-author Frederic Hans, a climate policy analyst at NewClimate Institute, a German think tank. Carbon offsetting — or buying credits for emissions reduced elsewhere — also featured prominently among corporate strategies. Nearly 40% of the Forbes 2000 companies with a net-zero target plan to use offsets, despite concerns about the lack of regulation.