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Dear John,

Climate Action 100+, the world’s largest investor engagement initiative on climate change, has released its first-ever benchmark evaluating the corporate ambition and action of the world’s largest greenhouse gas emitters and other companies with significant opportunity to drive the net-zero transition.

The Climate Action 100+ Net-Zero Company Benchmark offers the first detailed comparative assessments of individual focus company performance on the initiative’s 3 high-level commitment goals:

Reducing greenhouse gas emissions,
Improving governance, and
Strengthening climate-related financial disclosures.

It defines key indicators of success for business alignment with a net-zero emissions future and the goal of the Paris Agreement to limit global temperature rise to 1.5℃. While there is growing momentum as more companies announce ambitious climate commitments, the benchmark assessments reveal that most corporations have a long way to go in delivering on these promises.

The benchmark standardizes what constitutes a net-zero aligned business strategy and how to measure alignment with a 1.5°C transition pathway. As we enter a critical transition decade–where rapid progress must be realized in making net-zero ambition tangible–the benchmark highlights the key areas of focus on which progress needs to be made.

The benchmark also affirms that while select companies in a range of sectors are ahead of their peers in setting aggressive GHG reduction targets, only a very few have disclosed robust decarbonization strategies. All focus companies have more work ahead to be positively assessed on all benchmark indicators.

Climate Action 100+ net-zero company assessments

Over the coming months, Climate Action 100+ will publish sector and regional analyses of the company assessments. Ongoing development of the benchmark is a top priority for 2021. The development process will include a public consultation period to gather ideas and feedback from a range of stakeholders. Subsequently, the company assessments will be updated and made publicly available in the next reporting cycle.

Read more here

Ceres is a founding organization of Climate Action 100+, working with California Public Employees’ Retirement System (CalPERS), also a founding member, and other members of the Ceres Investor Network to engage directly with North American focus companies.

Thank you,

Cynthia McHale
Senior Director,
Climate Action 100+
North American Investor Engagement,
Ceres

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