Companies must do more to meet their promises under the Paris Agreement, according to a new report.

The Carbon Disclosure Project (CDP) surveyed just over 1,000 companies, which together account for 12% of global greenhouse gas emissions.
Some 55% of companies have set 2020 targets but only 14% have laid out goals for 2030 and beyond.

Companies that have already cut their emissions have seen revenues rise by 29%.

Companies have more creativity than governments

The report said: “In the Paris Agreement, emissions reductions are talked about at the country level and national governments will lead with policy changes and regulation but companies can move much faster than governments and they have an opportunity to demonstrate their leadership, agility and creativity in curbing their own substantial emissions.

“Many companies had already realised the need for action before Paris and they played an important role in making that summit a success.
“Others, however, are yet to come on board.”

> Download the report