The race to a greener future has begun.
Organizations around the world have invested half a trillion dollars in decarbonization, and more than a thousand large companies have committed to setting science-based emissions targets to limit warming to 1.5°C, the goal established by the Paris Agreement at the Conference of the Parties, COP 21, in December 2015.1
While these commitments represent progress, tangible results remain elusive. For example, only 110 of the world’s 2,000 largest companies meet the United Nations’ “starting line” criteria to “pledge, plan, proceed and publish,” and only 25 percent of those that have made commitments to ESG goals are on track to reach Paris Agreement goals.2
Treating net-zero targets merely as aspirations, or worse, as part of branding or marketing, can pose serious risks. Not living up to commitments can have a reputational impact and can provoke a backlash from investors, lenders, customers, employees, and local communities. And, of course, failure to act means falling short in meeting the climate challenge.
To reach goals of any kind, organizations need roadmaps, including near-term milestones and actions to drive a sense of urgency. In this short report, we explain how organizations of all kinds can develop the strategies and roadmaps they need to start their journeys to decarbonization.