Kenza Bryan and Attracta Mooney of the Financial Times tell their readers that in the past year, many companies have dropped or missed goals to cut emissions or to loosen ties with polluting sectors. They write:
At a recent address to investors, the former BP chief executive Lord John Browne urged them to consider Aesop’s fable of the rider who stops feeding his horse in peacetime, only to find it lame when war comes. The soldier in the analogy represented the companies who are pulling back on climate action, creating more long-term risk for all concerned as the ever-greater effects of the climate crisis loom. “The story is a good reminder that if we want something to serve us longer, we need to take care of it constantly,” he said. “The hard truth is that we’ve done a poor job of reconciling corporate actions with the interests of society and the planet in a balanced way. Yet the urgent need to do so is undiminished.”
The soldier in the analogy represented the companies who are pulling back on climate action, creating more long-term risk for all concerned as the ever-greater effects of the climate crisis loom. […]
Robeco was experiencing similar complications with its own net zero target, says the Dutch asset managers’ Whittaker. Measuring progress against the target and whether emissions cuts are coming from changes in holdings, or “from companies actually decarbonising in the real world” was “really challenging”. The company is not rolling back on net zero, she adds. “But you can see why other companies do that. Something that seemed like a great idea to start with turns out to be quite tough.”
The company is not rolling back on net zero, she adds. “But you can see why other companies do that. Something that seemed like a great idea to start with turns out to be quite tough.”
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