COP26 75% of Largest Global Firms Miss Green Targets

Just 25% of the largest, global firms will meet carbon emissions reduction targets according to Lombard Odier Investment Managers.  That's a staggering 75% that will miss their targets by 2025.

What is COP26?

Countries that signed the United Nations Framework Convention on Climate Change (UNFCCC) are known as the ‘parties’ i.e. each country is party to the agreement.  COP26 is the 26^th meeting i.e. Conference of the Parties (COP).

As COP26 continues in Glasgow, research by Lombard Odier Investment Managers has found that just 25% of the World’s largest firms are on track to hit their climate change impact targets.

Many may or may not know that the Paris Climate Agreement aims to reduce the expected 2.9 ^oC global increase in temperatures to below 2.0 ^oC and ideally 1.5 ^oC.

Lombard research indicates that just:

• 25% of the largest firms in the World have adapted systems and processes for them to help achieve the 2.0 ^oC target.
• 6% of the largest firms in the World have adapted systems and processes for them to help achieve the Paris Agreement’s 1.5 ^oC target.

Comment

We believe this will change dramatically as governments around the World legislate that initially larger firms (the UK already has) and then moving to medium amd smaller firms to report on their impact on the environment and what they are doing to reduce carbon emissions.

Our firm has already taken action and has been doing so for years.  As you know, we specialise in non-paper based, remote/online and virtual financial planning advice.  We have already calculated our own kgCO2e emissions per year based upon power, travel and fuel consumption, and have commenced works with the CarbonNeutralBritain.org and Ecologi.com to certify this, create our own ‘Works Forest’ and offset our already low emissions with carbon neutral strategies such as having 720 trees planted per year.  In addition, as we subscribe per employee, the offset not only includes all our employees work lives it also offsets their out of work/home perosnal lives too.