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Researchers propose new method to improve corporate climate accountability
New research suggests that tracking companies' influence on policies and conservation efforts could provide a more comprehensive view of their contributions to global net-zero goals.
In short:
- Existing corporate climate targets are often unreliable, with many companies lacking formal net-zero goals.
- A new proposal suggests tracking companies' influence in areas like policy advocacy and conservation efforts.
- This approach could incentivize companies to take broader actions beyond reducing their own emissions.
Key quote:
"We have been leaving a huge amount of impact on the table by failing to encourage or invite companies to be rewarded and compared for their significant efforts beyond their value chain."
— Kaya Axelsson, research fellow at Oxford University
Why this matters:
Current climate reporting standards often miss the broader impact companies could have on global emissions. Encouraging companies to engage in systemic actions may lead to more meaningful progress toward net-zero goals.
Read more: Oil and gas firms hide climate impacts in investments
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Oil and gas firms hide climate impacts in investments
A new study shows that oil and gas companies often fail to report emissions from their investments, obscuring the true climate impact of their operations.
In short:
- Clarity AI found that accounting for investment-related emissions would increase the carbon footprint of the top 20 oil and gas companies by 24%.
- The study highlights that 90% of the world's largest oil companies do not report emissions from joint ventures, complicating accurate climate risk assessment for investors.
- Scope 3 emissions, which include emissions from a company's entire value chain, are 26 times greater than direct emissions, according to Boston Consulting Group.
Key quote:
"I'm a strong believer that traditionally, we have relied way too much on the data that companies are reporting."
— Patricia Pina, Clarity AI
Why this matters:
Accurate emissions reporting is crucial for investors to assess climate risks and make informed decisions. Without transparency, fossil fuel companies may not face enough pressure to transition to sustainable practices, delaying necessary action to combat climate change.
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Listen: How meteorologists cover climate change
Meteorologists are seeing the effects of climate change in real time, as extreme weather events and disasters become more common. We talk with three meteorologists about how they try to talk about climate change, how they see our world changing and what pushback they get from skeptics.
Our best climate reporting of 2022
As the climate crisis continues to intensify, some of our most important climate stories covered the hidden and not-so-hidden challenges within the food systems, and the solutions that can make a difference.
Newsletter
Will wild coffee go extinct from climate change? Botanists say we can still save this crop
Climate change might drive wild coffee extinct, which would have broad impacts on the industry for the world's favorite drug.
Study finds climate change reporting can momentarily change minds
Accurate climate change reporting has the power to change minds if only for a moment, a new experimental study suggests. Gains were made regardless of political identity as the study demonstrated both Democrats and Republicans could be positively persuaded by accurate reporting.
The SEC climate rule: 7 things investors need to know
The Securities and Exchange Commission unveiled a rule around climate disclosures companies make to their investors. It could have far-reaching effects.
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