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Dear John,

Last week, Climate Action 100+, the world’s largest investor engagement initiative on climate change, released their latest round of company assessments: Climate Action 100+ Net Zero Company Benchmark 2.1.

Climate Action 100+ Net Zero Company Benchmark 2.1

For the first time this year, they assessed the emissions performance of the 168 focus companies, finding 65% have reduced their emissions intensity in the past year. They based their assessments on the initiative’s three high-level goals: improved governance, emissions reduction and enhanced climate-related disclosures.
More and more companies are reducing their emissions intensity; however, fewer are reducing emissions at the pace necessary to achieve a 1.5°C-aligned pathway. There are instances of some sectors working faster than others—with many of the assessed companies in airlines, autos, cement, diversified mining, electric utilities and steel industries showing reduced emissions intensity over the past three years.

See the Benchmark Results

Target setting is not happening as fast as we've seen in the past. But overall, this year's assessments show progress in companies' disclosures associated with their decarbonization strategies and capital allocation plans.

Thank you,

Cynthia McHale
Senior Director, Investor Network, Shareholder Engagement
Ceres

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