The COVID-19 pandemic has propelled net zero and climate action to the top of the corporate agenda, as companies and countries recognize their vulnerability to global events and make efforts to build resilience across value chains. Net zero is synonymous with real and ambitious action on climate change – the ultimate goal for a greener future.
However, this report - based on a survey of over 120 sustainability leaders from key sectors - finds that only about half of companies and organizations who have set net-zero targets, have also set concrete milestones to get there. Specifically, it looks at the gap between ambition - in the form of net-zero and science-based targets - and concrete climate action.
Net zero presents a major opportunity to reset the ambition of organizations, build resilience and mitigate vulnerabilities to shocks. But clear, actionable milestones that focus the efforts and monitor progress must be put in place to ensure credibility.