The climate charity analysed the Forbes 2000 largest companies list and found that more than one third (702) now have net zero targets, up from one fifth (417) in December 2020. However, 65 per cent of corporate targets do not yet meet minimum procedural reporting standards, it said.
Recent years have seen an increasing number of countries setting and strengthening their carbon reduction commitments, with some 91 per cent of global GDP now captured by net zero targets proposed national by governments, up from 68 per cent in December 2020.
But in contrast to the near-universal coverage of country-level net zero targets, the robustness of targets set by “non-state actors” is “alarmingly weak”, Net Zero Tracker said.
Frederic Hans, the report’s co-lead author and climate policy analyst at NewClimate Institute, said: “The growth of net zero targets has provided a governance framework of unprecedented scale and scope – carving out an achievable path to global...