Commercial, GHG Emissions, Industrial, Sourcing Renewables  -  October 30, 2017

CDP: 89% of companies have GHG reduction targets

A new report from CDP outlining responses from more than 1,800 global corporations shows that 89% of them have reported emissions reduction targets in 2017. 

More than two-thirds of those— 68% — are setting targets to at least 2020, and 20% are mapping out sustainability actions to 2030 and beyond, according to the second annual edition of its analysis,  "Tracking corporate action on climate change," released Oct. 26. The group says the number reflect an increase across the board from 2016, when 85% of CDP's sample reported setting targets, but only 55% extended them to 2020 or beyond, and even fewer — 14% — went to 2030.

Also notable is that 151 of CDP's sample group of companies have committed to the Science-Based Targets initiative or already have targets approved by the initiative, marking an increase from 94 a year ago. Through the initiative, companies commit to setting reduction targets aligned with the level required to keep global temperatures from rising above 2 degrees Celsius per year. An additional 30%, CDP said, expect to set goals inline with the initiative within the next two years.

Available on its website, the CDP analysis features an interactive map of all the companies and strategies covered as well as case studies from a few highlighted participants including AkzoNobel, EDP and Unilever, each of which set science-based targets in the past year. 

Also notable: Since 2016, CDP reports a 20% increase in companies from its sample offering low-carbon products and services. The group writes:

From Nissan selling electric cars, to San Diego working with GE Current, AT&T and Intel to upgrade 25% of the city’s streetlamps to adaptive LEDs with data-collecting sensors - companies are capitalizing on the opportunities from the transition. 75% of companies in the sample now say their products and services help others to reduce emissions – whether it’s from selling greener products or providing low-energy buildings. That's up from 64% last year.

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