The Science-Based Targets Initiative report shows a significant acceleration in corporate climate action globally.
The UK is leading the way on corporate climate action, according to a report
The report shows the UK tops the G20 in terms of the number of companies to have set or committed to science-based targets as of December 2022 – with 722 firms, including 69% of the FTSE Index.The UK came second in terms of growth, with 181 companies to set targets in 2022, after Japan which took the lead with 201.Last year saw an 87% increase in companies setting science-based targets.
“As catastrophic floods in Pakistan to deadly heatwaves in Europe in 2022 demonstrated, the human and economic costs of climate change are already being felt around the world. Companies must act now.” Companies from five further countries also committed to setting science-based targets for the first time – Argentina, Liechtenstein, Morocco, Sierra Leone, and Trinidad and Tobago.
China experienced the steepest growth curve with a 194% increase in the number of companies validated.
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