European companies are leading the world in climate action, with more than a third of the largest European corporates targeting carbon cuts in line with goals set by a UN treaty. Companies like Swedish steel maker SSAB, Danish shipping leader Maersk, and UK paper company DS Smith are all planning to cut emissions in line with global targets on climate change. Data released by the Transition Pathway Initiative assessed the 238 largest energy, industrial and transport companies on their progress to tackle climate change. About 36 per cent of the European companies assessed have plans to cut emissions in line with 2C or 1.5C – the goals set out in the Paris climate agreement. In comparison, only 16 per cent of American companies, 10 per cent of Japanese companies and five per cent of Chinese companies have similar targets.
iNews 20th March 2020 read more »