Advancing action on climate change

Given the lack of concerted global action to reduce greenhouse gas emissions, it is increasingly likely that climate change will exceed the 2 degrees C threshold – beyond which severe and irreversible impacts of climate change may occur, presenting investors and companies with an array of risks.

Following the launch of the CDP Carbon Action initiative, which called on companies to move ‘from disclosure to action’, a group of 18 PRI signatories engaged with 24 companies from sectors including oil & gas, metals & mining, industrials and utilities, to encourage them to set a good quality emissions reduction target. An analysis of outcomes from the first year of the project showed that 10 of the target companies subsequently disclosed a target to CDP, while a further 3 companies demonstrated through dialogues that they are taking steps toward doing so.