All business leaders and companies attending the World Economic Forum

News

  • News
  • 20 Jan 2020
    • Share

World Economic Forum Calls on Business Chiefs to Set Net-zero Targets

All business leaders and companies attending the World Economic Forum in Davos this week have been asked to make public commitments to achieving net-zero emissions by 2050 or earlier. The Forum notes that emissions are increasing by 1.5 percent annually, far off the 3-6 percent required annual reduction between now and 2030 to limit global warming to at least 2C, according to the Intergovernmental Panel on Climate Change (IPCC). The letter is accompanied by recommendations for companies to publicly report their greenhouse gas emissions and disclose climate-related financial risks and impacts. It also calls on companies setting targets up to 2050 to include a “milestone target” set for 2030. However, Swedish climate activist, Greta Thunberg who spoke at the forum warned that net zero carbon emissions were not enough, instead making a call for commitments to ‘true zero’. The call for action comes after the World Economic Forum stated the five biggest global risks in terms of likelihood and severity are climate-related, as previously reported.

Posted by

The Edie

Copyright ©Bursa Malaysia Berhad (30632-P). All rights reserved.