Many companies have made promises to tackle climate change, but how many of them are actually doing it?
Scientists have been sounding the alarms on the climate crisis for the past few decades. It can only get much worse after ‘code red’ global warming warnings are issued! The focus of climate action has steadily shifted from individuals whose efforts barely make a dent in the global carbon footprint to large corporations. Instead of crumbling under pressure, many multinationals decided to make administrative decisions in the face of the climate crisis.
However, it’s quite obvious that many of these decisions weren’t made with any structured action plans. So, let’s analyze corporate promises against climate change.
What Corporations Promised
Over the past decade, more than 200 of the world’s biggest corporations have made promises to cut down their carbon emissions by 100%. They’re calling this the “net-zero” promise, one that they hope to fulfill by 2040. In order to do so, these large companies will have to reevaluate their processes to replace environmentally-unfriendly practices with sustainable ones.
Delivering on this promise requires a detailed action plan with realistic goals and strategies of attaining them. Limiting the use of plastic is only the most basic strategy that companies like Amazon and Proctor & Gamble can implement. They must make fundamental changes in how they conduct their businesses to see any good results.
How Corporations Are Failing
Most of the largest corporations are falling short on their climate action promises since they’ve simply have failed to strategize accordingly. According to a report by the New Climate Institute, less than one-third of the companies under survey actually have any effective plans to live up to their promises. Even when implemented effectively, these plans would only reduce emissions by 40% at the best of their capacity. So, the ‘net-zero’ promise seemingly has no real backing as judged by the current progress, or lack thereof, being made towards it.
What’s Next?
The world’s largest corporations must take a deeper look into their responsibility and accountability towards the climate crisis. A lot of large corporations only address climate change concerns when they feel pressured by their customers to do so. If they actually expect to make a positive impact as per their promises, they must treat climate action as a corporate responsibility instead of a customer satisfaction strategy. Companies like Deutsche Telekom and Vodafone are among those setting an example for others in sincerely tackling climate change. One can only hope that other corporations will follow their lead before it’s too late.
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