New research finds slow climate progress in high-emitting industries
New research by the Transition Pathway Initiative finds that 29% of the largest publicly-listed industrial companies are set to align their emissions with the Paris Pledges by 2030, up from 24% in mid-2018.These companies are aligned with the emission reduction pledges made by national governments in the Paris Agreement. However, those pledges are not anticipated to keep global warming below dangerous levels, and the report finds that fewer than one in five companies (19%) are aligned with a pathway to keep global warming at 2°C or below. TPI assessed the Carbon Performance of 72 companies across 4 sub-sectors: paper, cement, steel and aluminium. It also assessed Management Quality on climate for100 companies across five sectors, including chemicals. Taken together, these five sectors produce over 2/3 of direct industrial C02 emissions.