Major Firms Going Half-speed on CO2 Reduction
The world’s largest companies’ carbon-cutting targets are too modest to avoid dangerous climate change, according to a report from the Carbon Disclosure Project.
The Global 100, or the 100 largest firms in the world, have combined goals that will reduce emissions 1.9 percent a year. That is less than half the 3.9 percent that is estimated to be required to cut emissions in developed nations by 80 percent by 2050, a benchmark that the Intergovernmental Panel for Climate Change (IPCC) said is necessary in order to avoid cataclysmic climate change.
The report, “The Carbon Chasm,” is based on data from 2008.
Most problematic is that most companies, 84 percent, have set carbon reduction goals up to and including 2012, but many have not set goals as far out as 2050.
At the current rate of reduction, Carbon Disclosure Project estimates that the 80 percent reduction goal won’t be met until 2089, or 39 years too late to prevent dangerous climate change.
Energy Manager News
- Senators National Energy Policy Vision Leads to a Hopeful Future
- Google Builds Data Center on Site of Old Coal Plant
- EPA Honors 3 Facilities for Combined Heat and Power
- Cheese Factory Installs Anaerobic Digestion
- Certification Program Established for Green Button Standard
- Diesel Genset Market to Reach $68B by 2024, Navigant Says
- Emulsion Mist Collectors Designed for Heavy Industry
- IKEA Plugs In Fuel Cells at California Store