Only 40 of the world's 100 largest private firms have set net-zero carbon emissions targets to fight climate change, according to a report released Monday, lagging far behind public companies.
The lack of market and reputational pressures on private firms compared to those on publicly-listed, along with an absence of regulation are to blame for their slow uptake of climate commitments, said John Lange of Net Zero Tracker, which produced the report.
"I think things are changing on all three of those fronts," he added.
The report compared 200 of the world's largest public and private companies based on their reported emissions reductions strategies and net-zero targets.
It found that only 40 of the 100 private firms assessed had net zero targets, compared to 70 of 100 publicly-listed companies.
Of the private companies that have set targets, just eight have published plans on how they will meet them.
