Fossil fuel company net zero plans ‘largely meaningless’: Report

LONDON - The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them “largely meaningless”, a report showed on Monday.

But most targets do not fully cover or lack transparency on Scope 3 emissions – which include the use of a company’s products, the biggest source of emissions for fossil fuel companies – or don’t include short-term reduction plans, the report added. “We haven’t yet seen a huge move from fossil fuel companies or other companies on meeting those , so there’s still a lot of work to do to come up to that level,” said Thomas Hale of the University of Oxford, who co-authored the report.

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