Limiting the world's temperature rise to 1.5 degrees Celsius above the pre-industrial average by mid-century was crucial in order to avoid irreversible damage to the planet, U.N. climate scientists warned on Monday.
The corporate world was not moving fast enough towards this target by reducing their greenhouse gas emissions, warned Arabesque, a corporate sustainability data firm and asset manager, in an annual analysis of the world's main markets.To reach that target, emissions need to drop by around 45% by 2030; yet, across the globe, they continue to rise.
On average, only about a fifth to a quarter of companies across the markets was on course to hit the global target, Arabesque Chief Executive Daniel Klier said, even as more boards pledge to do so amid growing regulatory and investor pressure to act.
Duh. Corporations exist to increase shareholder value. Period. That's Business 101.