Fossil fuel company net zero plans 'largely meaningless,' report says

📆 6/11/2023 7:50 PM
📰 Reuters

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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.

Smoke rises from chimneys at a factory in the port of Dunkirk, France January 19, 2023. REUTERS/Yves Herman/File PhotoMost do not cover or are not transparent on Scope 3 emissions

That's up from just 51 a year ago, according to the assessment of publicly available data by Net Zero Tracker, run in part by the Britain-based Energy and Climate Intelligence Unit and the University of Oxford. That made them "largely meaningless", it said. The report also found that none of the fossil fuel companies were making the needed commitments to move away from fossil fuel extraction or production.

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