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The journey to net zero: a deep dive into the first Climate Action 100+ Net Zero Company Benchmark results

For many investors, climate risk arising from equity and fixed income holdings is a major focus and source of significant portfolio (scope 3) emissions. Since 2017, Climate Action 100+ has sought to create a platform for investors to collaboratively engage with companies that have significant climate risks, and unique challenges and opportunities in the transition to net zero emissions. While many companies, including more than half of the Climate Action 100+ Australian focus companies, have set goals to reach net zero emissions, it is unclear how many of the companies plan to do this, the investment required, and the interim emissions reductions they will reach in the near-term.

 

The Climate Action 100+ Net Zero Company Benchmark is a new tool that will help investors to assess the performance of 160 of the world’s largest corporate emitters against a series of indicators that measure company progress towards net zero emissions. The first assessment of companies was released in mid-March and the results showed that while ambitions are high and disclosure has improved strongly, few companies globally have clear plans, metrics and capital allocation decisions aligned with their long-term ambitions. And planned alignment with 1.5C or well below 2C benchmarks is also very weak – with very few companies’ targets having the ambition necessary to meet these Paris aligned benchmarks.

 

Join us for our April IGCC member meeting and hear from staff from the Climate Action 100+ benchmark development process, as well as Australian investors, as we unpack how this information will be used to inform and ramp up company engagements through the Climate Action 100+ initiative.

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