Friday 6 May 2016

More than 150 firms commit to ‘science-based’ carbon reduction targets

A total of 155 companies including Ben & Jerry’s, Toyota and Sony have committed to set emissions reduction targets in-line with global effort to keep warming to well below 2°C.

The 'Science Based Targets Initiative' said 45 new firms made the commitment since the Paris agreement - which was signed last month - was reached in December.

It stated firms which joined the initiative represent a wide variety of industries, from carbon-intensive industrial sectors to consumer-facing industries including household brands.

They are headquartered in 27 countries around the world, including 77 in Europe, 34 in the Asia Pacific region, 25 in the US and nine in Canada.

The Science Based Targets Initiative supports companies in setting emission reduction targets in line with what the science says is necessary to keep global warming below 2°C.

It works with different platforms including UN Caring for Climate, World Resources Institute (WRI) and WWF Climate Savers.

According to the initiative, out of the 155 companies, 13 have already had their emission reductions targets reviewed and approved by experts.

In total the 13 firms will reduce more than 800 million tonnes of CO2 during the lifetime of the targets - equivalent to closing more than 250 coal-fired power plants for a year.

Cynthia Cummis Deputy Director of GHG Protoco at WRI said: “The enthusiasm companies have shown to setting ambitious climate targets is very encouraging. Our technical reviewers cannot keep up with the number of targets being submitted. This is a great problem to have and a clear indication that the Paris Agreement was a turning point for climate action.”