Connect with us

Hi, what are you looking for?

News

World’s biggest private firms lag listed peers in setting emissions targets — study

REUTERS

LONDON — The world’s largest privately owned companies are severely lagging their public market peers when it comes to setting climate targets, according to an analysis by the nonprofit Net Zero Tracker released on Wednesday. 

Just 32 of the 100 biggest private firms have set a target to reach net-zero carbon emissions, compared with 69 of the 100 largest public companies, the study showed. 

In high-emitting sectors such as energy, infrastructure, and manufacturing, only 14% of the private firms’ annual combined revenue is covered by such a target compared with 77% of revenues from listed firms in the same sector. 

The quality of the targets for those that have them is also poorer, the study found, with firms less likely to include shorter-term goals, cover the full scope of their emissions or contain detail about how the firm uses carbon offsets. 

Just four of the private firms with a target actually had a plan to deliver on their pledge, potentially exposing the companies — and the economies in which they operate — to greater risk as the world transitions to a low-carbon economy, the study said. 

“Private firms are falling devastatingly short on net zero compared with their publicly-listed cousins,” said John Lang, project lead of the Net Zero Tracker. 

As listed companies increasingly face mandatory climate-related disclosures, Thomas Hale, professor at Oxford University’s Blavatnik School of Government, said there was a risk private firms escaped scrutiny and gained an unfair advantage. 

“Smart regulation is needed to create a level playing field and close a potentially enormous loophole in corporate climate action,” he said. — Reuters

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

A market vendor arranges assorted vegetables inside the Quinta Market in Manila, Sept. 19. Vegetable prices continued to rise in November. — PHILIPPINE STAR/...

News

More policemen are deployed in Divisoria, Manila as the shopping area is expected to draw bigger crowds ahead of the holidays, Dec. 1. —...

News

PHILIPPINE STAR/ RUSSELL PALMA By Arjay L. Balinbin, Senior Reporter A PROPOSED MEASURE seeks to require National Economic and Development Authority (NEDA) Board approval...

News

BW FILE PHOTO THE MANAGEMENT ASSOCIATION of the Philippines (MAP) is seeking the creation of a public-private sector advisory council for various sectors, in...

News

UNSPLASH THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes...

News

MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.