April 9, 2024
Source: Amnesty International
Photo / Image Source: Unsplash,
Reacting to research issued today into 51 major companies which showed they are doing far too little to curb their greenhouse gas emissions to keep global warming within an internationally agreed target of 1.5°C this century, Amnesty International’s Climate Justice Researcher Candy Ofime said:
“The people worst affected by global warming are marginalized communities living on the frontline of the climate crisis. These findings show those already most at risk will continue to pay the price of a culture of corporate climate irresponsibility fostered in executive boardrooms many thousands of miles away.
These findings show the most vulnerable will continue to pay the price of a culture of corporate climate irresponsibility.
Candy Ofime, Amnesty International’s Climate Justice Researcher
“Instead of taking the urgent action required to prevent the climate crisis escalating and violating the human rights of billions of people, many large companies seek to mislead consumers, shareholders, and taxpayers with greenwashing and empty pledges.
“These invariably comprise vague plans to marginally reduce emissions, a reliance on unproven technologies, or dubious carbon accounting or offsetting schemes. Meanwhile, many fossil fuel companies continue to expand their operations, doing business as usual.
“Governments must now step in to adopt regulations and policies compelling large corporate actors, many of which are state owned or supported, to accelerate genuine emissions reductions, and firmly act against those not doing anything at all to mitigate global warming.”
Background
The Corporate Climate Responsibility Monitor, an annual study produced by NewClimate Institute and Carbon Market Watch, looked at the 2030 climate commitments of 51 large companies in the automotive, energy, fashion, agriculture and retail sectors.
Studies have shown that 80 percent of carbon dioxide emissions between 2016-2022 can be traced to just 57 cement or fossil fuel companies. Shell recently cut its greenhouse gas reduction targets and is currently appealing a Dutch court ruling from 2021 that it must reduce its absolute carbon emissions, including from the oil and gas products it sells, by 45% by 2030. Amnesty International is calling for a full, fast, fair and financed phase out of fossil fuels and for a just transition to renewables.
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