The IPCC 1.5°C report, reveals that one fifth of 2,000 of the world’s largest public companies, representing sales of nearly $14 trillion, now have net zero commitments. And the majority of those companies (by sales) also have interim targets, a published plan and a reporting mechanism, with just over a quarter meeting a full set of ‘robustness criteria’.
In addition, of the 4,000 “significant entities” surveyed, the report found 61% of countries, 9% of states and regions in the largest emitting countries, and 13% of cities over 500k in population to have committed to net zero.
Sweden is singled out in the report for its robust transparency around offsetting – “The only nation in our dataset that does this”. Sweden’s net zero framework details maximum use of offsets that can be used to meet its interim goals: 8% by 2030 and 2% by 2040. It also plans to use a maximum of 15% of offsets to achieve its net zero goal by 2045.
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