Even if all current Paris agreement climate pledges are met, the world is still set to see temperature rises of about 2.4C by the end of the century – well above the 1.5C of warming that scientists say will already lead to severe climate impacts.
As countries are under pressure to up their climate ambitions in the run-up to Cop26, the vital UN climate talks in November, the private sector is also being increasingly pushed by investors, employees, activists and consumers to take meaningful action.
In response, corporations have put out a flurry of climate commitments.
At least a fifth of the world’s 2,000 largest public companies have now made some kind of “net zero” pledge to cancel out their carbon emissions. They are investing billions in clean energy, moving to electric vehicles, pledging to halt deforestation, and urging the US government to step up climate action.