Largest firms need to double CO2 reductions to avoid dangerous climate change

Based on current reduction targets, the world’s largest companies are on track to reach the scientifically-recommended level of greenhouse gas cuts by 2089 – 39 years too late to avoid dangerous climate change, reveals a research report – The Carbon Chasm – released today by the Carbon Disclosure Project (CDP).

It shows that the Global 100 firms (92 of which participated in the study) are currently on track for an annual reduction of just 1.9% per annum which is below the 3.9% needed in order to cut emissions in developed economies by 80% in 2050. According to the Intergovernmental Panel for Climate Change (IPCC), developed economies must reduce greenhouse gas emissions by 80-95% by 2050 in order to avoid dangerous climate change.

The research report – The Carbon Chasm – was conducted by the Carbon Disclosure Project, based on data reported to CDP in 2008*, and supported by BT, to analyse how the world’s largest 100 companies currently set greenhouse gas emissions reduction targets and whether they are sufficient to combat long term climate change.

EurekAlert