Shocking Research Uncovers That Only 4% Of Top Companies Meet UN Target Guidelines

2 Mins Read Deepanwita Dey 07 Nov 2023
Shocking Research Uncovers That Only 4% Of Top Companies Meet UN Target Guidelines

Recent news has uncovered a shocking truth about the wealthy business sphere of our world. Among the Forbes2000 Index, 1,003 companies have a UN environmental target to fulfill. Latest studies have uncovered that only 4% of those companies are following the UN environmental safety guidelines.

The current target set by the UN was to get to net-zero emissions by the mid-century. However, according to the quality pledge report showcased on Monday, Forbes2000 index companies had jumped 40% to 1,003 in October 2023, from 702 in June 2022, covering two-thirds of revenues – which is a sum of $27 trillion – data collection by Oxford University. (Source)

The UN’s current campaign towards Zero covers all harmful emissions. Cutting down on these emissions should have begun immediately in 2022. This also includes annual progress and discussing longer sustainable targets.

Out of the 1003, 37% were able to cover Scope 3 emissions, and 13% have implemented a quality threshold when it comes to their carbon emission. 

This slow pace of change is going to be the central communication in the COP28 climate talks in Dubai starting November 2023.

“A clear line of sand for the net zero has surfaced. Many net zero targets are credibility light, but we can say for sure that not most of the world’s leading listed companies are on the right side of the climate line for the net zero intent,” said John Lang, the Project Lead, Net Zero Tracker.

With such credible measures for future-proofing every company sustainability, one question is rising among the top climate advisories –

“Are the firms we’re investing in, working, or buying from on the right or wrong side of the line?”

Recently, sustainability and collaborating with a company that does their due CSR diligence is important for every consumer as well. They are also less likely to invest in a company that makes poor environmental decisions.

Therefore, the other 96%, which are still on-board, have some serious choices to make in the upcoming financial year.

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