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Towards net zero emissions From KPMG Report

The following is the Towards net zero emissions From KPMG Report recommended by And this article belongs to the classification: Investment & Economy, kpmg , research report.

More than half (56%) of the world’s 250 largest companies (G250) admit that climate change is one of their financial risks.

Companies in France (94%), Japan (71%) and the United States (54%) are most likely to report financial risks from climate change. In contrast, less than half of German (47%) and Chinese (23%) companies reported this. Among the major industries, oil and gas ranked first, with 81% of large companies reporting climate related financial risks, followed by retail (70%), technology, media and Telecommunications (60%), and financial services (57%).

A survey of the G250 group found that the quality of their climate related risk disclosure needs to be improved. Less than one-third of the major financial reports (31%) contain climate related risks or issue separate climate risk reports; only one-fifth of the companies (22%) provide climate related financial disclosure task force (TCFD).

Richard threlfall, global head of influence at KPMG, said:

Now more than half of the big companies are aware of this risk, and almost half of them have put their boards in charge of managing climate risk, although the quality of information disclosure varies greatly between different sectors.

About 1 / 5 (19%) of the G250 have reported achieving the goal of zero net greenhouse gas (GHG) emissions. In setting the net zero target, German companies (76%) are in the lead, followed by France (44%) and Japan (25%). In terms of industry, net zero targets are most common in technology, media and Telecommunications (30%), as well as large companies in the automotive industry (29%).

Other findings:

33% of G250 CEOs mention climate change or climate related risks in their annual reports. Germany (59%) and oil and gas companies (57%) are most likely to do so.

Less than 1 / 5 (17%) of G250 reported carbon removal strategies. German companies (88%) and car manufacturers (38%) are most likely to do so.

Although there are great differences between countries and industries, many G250 reports clearly convey the goal of achieving emission reduction or net zero emission. French (67%) and us (38%) companies, as well as companies in the technology, media and Telecommunications (45%) and automotive (33%) industries, are most likely to be transparent about the progress of decarbonization.

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