#Base delta zero vs glassing series

вЂњWe are nowhere near done,вЂќ says Patrick Flynn, its head of sustainability.ДЇor those with a glass half-full approach, the recent wave of promises by such large businesses is encouraging. To compensate for its remaining emissions, it is buying renewable energy and what it calls вЂњhigh-credibilityвЂќ carbon credits. Salesforce has not stopped generating greenhouse gases. That may mean that some currently profitable products or services have to be phased out or eliminated.вЂќ вЂњItвЂ™s going to require that every aspect of the business is on a path to transition. вЂњAchieving net zero is going to raise challenges for companies, but inaction will also come with a significant cost,вЂќ says Mary Schapiro, head of the secretariat of the Task Force on Climate-related Financial Disclosures (TCFD). FT Moral Money readers we surveyed were split on whether their companies would hit their emissions goals. The environmental and investor case for setting net-zero targets may be clear but the question of whether and how most companies will meet them is unresolved. вЂњCompanies that are not quickly preparing themselves will see their businesses and valuations suffer,вЂќ he predicted. Larry Fink, BlackRockвЂ™s CEO, summed up net zeroвЂ™s importance to investors in January when he warned that no company in the asset managerвЂ™s portfolio would escape вЂњprofoundвЂќ changes to its business model. That pressure is not only from governments and environmentalists.

#Base delta zero vs glassing series

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What was seen as a burden is increasingly being framed as a way for boards to manage risk, and a market opportunity for those that have the foresight to act.

Carbon offset credits face increasing scrutiny amid worries that companies using them see them as a way to avoid deeper cuts to emissions.

Disclosure standards remain immature but a trend for voluntary reporting should soon be bolstered by international sustainability reporting standards.

Pressure is growing for businesses to set meaningful interim targets and to report transparently so that they can be held accountable.

These are attracting more attention from investors seeking change

A few вЂњsystemically important carbon emittersвЂќ account for the bulk of emissions.

Boards and CEOs need to drive the net-zero agenda but research suggests they are ill equipped and insufficiently incentivised to do so.

This situation has led to concern about greenwashing or even a cavalier вЂњburn now, pay laterвЂќ approach, which will not rein in emissions for years to come.

Many of those that have done so have not based the targets in science, or have failed to set interim milestones

Most enterprises have not published an emissions reduction goal, however.

This has led to hundreds of net-zero pledges by which companies resolve to stop adding any more carbon emissions to the atmosphere than they remove.

On the eve of the UNвЂ™s COP26 conference pressure is growing for business to slash greenhouse gas emissions by 2050 to limit the effect of climate change.