Business plays a central role in climate change. A significant portion of the CO2 emissions contributing to climate change stems from economic activities driven by businesses. Over the years, numerous companies have pledged to achieve net-zero carbon targets by 2050 as part of their efforts to reduce their carbon footprint.
To ensure companies follow through on these commitments, over the last decade, regulations around companies’ climate-related disclosures have grown more stringent.
As we have covered before, in 2022 the U.S. Securities and Exchange Commission (SEC) announced a proposed rule called Climate Risk Disclosures, which would require companies to share information around climate risks with the public and their investors. Climate Risk Disclosures are a major step forward in aligning the business community with the health of our planet.
However, that has not been as successful as hoped.
According to the recently released fifth edition of EY’s latest Global Climate Risk Barometer report, there is a shortfall that indicates that the largest global corporations are persistently trailing behind their own climate promises.
The study, encompassing 1,500 businesses, revealed that almost half of them refrained from outlining a clear transition plan to meet their climate commitments. This underscores a significant misalignment between the publicized climate aspirations of companies and the practical strategies implemented to realize these goals.
As always however, the .earth domain tribe is ahead of the curve when it comes to this topic. Bravo.Earth, ClimateMatters.Earth, GBS.Earth, HHC.Earth, and Lobelia.Earth all offer solutions for companies meet the upcoming Climate Risk Disclosures requirements.
Is your company or organization meeting climate change goals or helping others to meet their goals? The .earth web domain is ideal for enhancing your brands and communicating your mission of using innovation to fight climate change.
To learn more about the .earth domain, visit Voices.Earth. In addition, many organizations and individuals are sharing their voices about the benefits of a .earth domain in our Voices.Earth podcast series.
