Corporate Climate Responsibility Monitor (CCRM) 2024

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Context

• Corporate Climate Responsibility Monitor (CCRM) 2024 reports highlights a report indicating that the world's largest companies are not meeting their commitments to address climate change adequately.

Corporate Climate Responsibility Monitor (CCRM) 2024 Report Details

 The report, titled "Taking Stock: Progress towards the Sustainable Development Goals," examines the progress of 2,000 companies about the United Nations Sustainable Development Goals (SDGs).

Key Findings:

• Infinitesimal steps: Despite increased awareness and commitments to climate action, the report reveals that many of the world's largest companies are failing to take meaningful steps to reduce their carbon emissions.
• Carbon Emissions: The report indicates that only a small percentage of companies have set ambitious targets to reduce their carbon emissions in line with the Paris Agreement goals.
• Lack of Progress: Despite growing pressure from investors, consumers, and regulators, the report suggests that corporate action on climate change remains insufficient.
• Investor Pressure: Investors are increasingly demanding that companies disclose their climate-related risks and take concrete actions to reduce their carbon footprint.
• Role of Governments: The report highlights the need for stronger government policies and regulations to incentivize companies to accelerate their climate action efforts.
• Call to Action: The report calls for urgent and coordinated action from governments, businesses, and civil society to address the climate crisis effectively.
• Corporate Responsibility: The report urges companies to adopt more ambitious climate targets, invest in renewable energy, and implement sustainable business practices to mitigate their impact on the environment.

Source

https://www.downtoearth.org.in/blog/climate-change/world-s-largest-companies-are-failing-on-climate-action-new-report-shows-95524