Corporations are increasingly committed to green agendas. But a new report on Tuesday reveals that only five per cent of roughly one thousand publicly listed companies have a detailed strategy for how they will reach their greenhouse gas targets.
While 82 per cent of companies in sectors ranging from food to oil and gas reported long-term emissions strategies, only half incorporated climate scenarios into their planning, according to the report published by the Transition Pathway Initiative (TPI) Centre at the London School of Economics.
And only one per cent of the companies aligned their future spending with their goals to decarbonize.
"Our research is contributing to this shift in emphasis from setting targets to actually implementing them and the big takeaway is just how little of that is going on right now, even among these very large and sophisticated publicly listed companies," said TPI Research Director Simon Dietz.
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