RFP Energy Solutions
Companies pulling back on their greenhouse goals.
Climate Challenges

Companies pulling back on their greenhouse goals.

  • Corporate Climate Challenges:
    • Corporate leaders admitting to missing greenhouse gas emissions targets.
    • Companies like Unilever, Bank of America, and Shell dropping or missing emission reduction goals.
    • Common complaints include political/regulatory factors, lack of government support, and slow technology rollout.
  • Government Climate Challenges:
    • Scotland and Germany missed their 2030 decarbonization targets.
    • Median goal of 51 major companies was a 30% emissions cut by 2030.
    • UN scientists say global emissions need to be cut by 43% by the decade's end to stay within 1.5C warming limits.
  • Issues with Emissions Targets:
    • Continuous increase in emissions and global temperatures.
    • Companies facing difficulties in accurately measuring their carbon footprints.
    • Many companies underestimated the effort required to meet climate goals.
  • Corporate Climate Commitments:
    • Over 10,000 companies committed to cut emissions under the UN's Race to Zero.
    • Some companies removed from validation processes for not setting meaningful targets.
  • Examples of Corporate Struggles:
    • Unilever scrapped goals to cut plastic pollution and preserve biodiversity.
    • Volkswagen delayed its emissions reduction target.
    • Technology and geopolitical factors hindering progress for companies like Roche and Volkswagen.
  • Clean Energy Availability Issues:
    • Global rollout of renewable energy capacity undermined by policy uncertainty and infrastructure investment gaps.
    • Kimberly-Clark facing grid connection delays for solar projects.
  • Shifts in Corporate Climate Communication:
    • Companies moving from idealistic promises to pragmatic approaches.
    • Oil and gas companies arguing they can't cut emissions faster than society.
  • Financial and Legal Considerations:
    • Bank of America softened its climate policies due to political pressure.
    • Sustainability-linked bonds seeing reduced issuance.
  • Investor Pressures and Challenges:
    • Investors pressing for evidence of action, not just ambition.
    • Regulatory environment instability blamed for climate action failures.
  • Measurement and Disclosure Issues:
    • Inconsistencies in progress measurement frustrating investors.
    • Calls for better disclosure and more accurate carbon footprint calculations.