Some 114 companies — including Ikea, Coca-Cola Enterprises, Walmart, Kellogg and Dell — have committed to set emissions reduction targets in line with what scientists say is necessary to keep global warming below the dangerous threshold of 2 degrees Celsius, according to the Science Based Targets initiative.
The companies participating have combined annual emissions of at least 476 million metric tons CO2.
Also today WRI released the new CAIT Climate Data Explorer Business platform, an interactive database of corporate emissions and emissions reduction targets. This new tool is built on WRI’s CAIT Climate Data Explorer platform, a source for international climate data and visualizations. Company data is provided by CDP, a global corporate climate data-reporting platform, and the Science Based Targets initiative.
The Science Based Targets initiative, a joint effort of CDP, WRI, WWF and UN Global Compact, works with companies to set science-based emissions targets and only approves corporate targets that meet its strict criteria.
Ten companies have already had their targets approved including: Coca-Cola Enterprises, Dell, Enel, General Mills, Kellogg, NRG Energy, Procter & Gamble, Sony and Thalys. Combined, these 10 companies will reduce their emissions from operations by 799 million metric tons CO2 over the lifetime of the targets.
These companies have also made commitments to reduce indirect emissions throughout their value chains.
When the Science Based Targets initiative launched, its goal was to recruit 100 companies by the end of 2015 to commit to setting a science-based target.
Today, Kellogg, NRG Energy, and Enel announce that the Science Based Targets initiative has approved the following targets:
- Kellogg commits to a 15 percent reduction in emissions intensity (metric tons of CO2e per metric ton of food produced) by 2020 from a 2015 base-year (scopes 1 & 2). Kellogg commits to reduce absolute value chain emissions by 20 percent from 2015 to 2030 (scope 3).
- NRG Energy commits to a 50 percent reduction of absolute emissions by 2030 from a 2014 base-year (scopes 1, 2 & 3). The company also has a long-term target: a reduction of 90 percent absolute emissions by 2050 from 2014 levels (scopes 1, 2 and 3).
- Enel commits to reduce CO2 emissions 25 percent per kWh by 2020, from a 2007 base-year. The target includes the decommissioning of 13 GW of fossil power plants in Italy, and is a milestone in the long-term goal to operate in carbon neutrality by 2050.
The 114 companies that have agreed to set science-based targets represent at least $932 billion USD in total combined profits. Almost a quarter of the companies who have signed up are from the US, with the UK, France and Canada being the next most common home locations.