MORE COMPANIES SETTING 'NET-ZERO' CLIMATE TARGETS, BUT FEW HAVE CREDIBLE PLANS REPORT SAYS

A growing number of companies are pledging to cut their greenhouse gas emissions to" net zero" as part of global efforts to tackle climate change, but that goal is rarely supported by a credible plan, according to a report published this week.

The idea behind net zero is to stop adding planet-warming gas to the atmosphere, either by preventing the emissions in the first place or removing an equivalent amount through natural or technological means. Scientists say the world needs to reach net-zero emissions by 2050 to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times.

The net-zero goal has gained traction in recent years. While 149 countries have such targets, up from 124 in late 2020, the number of publicly listed corporations aiming for net zero increased from 417 to 929, according to the Net Zero Stocktake report compiled by experts from four independent research organizations.

"You can see cities talking about net zero, companies talking about net zero. And if you go to supermarkets, you see climate-neutral or carbon-neutral products," Takeshi Kuramochi, one of the report's authors, said. “But then you don't know what exactly they mean and whether they're really contributing to this transition to global net-zero emissions!" Unlike with national targets, the criteria for netzero efforts at the sub-national or company level aren't clearly defined.