The world’s nations agreed in Paris in 2015 that averting the worst impacts of climate change calls for temperature rise to be held to 1.5°C above pre-industrial levels. That means cutting greenhouse gas emissions in half by 2030 and reaching net-zero emissions by 2050. To get there, countries and companies must step up their actions to meet the Paris Agreement’s goals, as a dramatic mitigation gap still remains despite recent announcements and pledges.
This report from the Science Based Targets initiative (SBTi) - prepared by the United Nations Global Compact and CDP - takes stock of corporate climate ambition in the Group of Seven (G7), an intergovernmental organization consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
The report assesses the temperature ratings of the leading equity indexes of these countries’ markets. Analysis is based on emissions reduction target data submitted by companies to CDP and the SBTi. It also frames science-based target setting as the solution to bridge the ambition gap, outlining four levers to unlock breakthrough climate mitigation action.