Ambition, Action, Progress: Seven Years until 2030

BOSTON, Jan. 12, 2023 /PRNewswire/ -- By 2030, global emissions must drop by almost half to limit global warming to 1.5 degrees Celsius and mitigate the climate crisis' most severe impacts. Yet, a Ceres analysis of data from 450+ public U.S. companies in the sectors responsible for the most significant amount of emissions showed that 56% have yet to set comprehensive climate goals and 44% don't publicly disclose greenhouse gas emissions data.

That's why the Ceres Ambition 2030 initiative focuses on decarbonizing six of the highest-emitting sectors in our economy, accounting for roughly 80% of U.S. greenhouse gas emissions, according to 2019 EPA data: banking, electric power, food and agriculture, oil and gas, steel, and transportation. Ambition 2030 leverages the power of investors, corporates, and company value chains to catalyze momentum across these sectors. The new Ambition 2030 webpage includes resources for engagement and case studies.

Ambition 2030 stands on three expectations:

Change starts with goals. All companies must set climate targets. Investors and companies can use the Ceres Ambition Spectrum to assess progress towards decarbonization. The Ambition Spectrum evaluates commitments and identifies how a company may progress towards a robust 1.5-degree Celsius-aligned goal. Once top companies set commitments, peer companies will be pulled along through a competitive cascade.

Goals fall short without action. In 2023, every company must release a time-bound plan detailing how it will integrate climate action as a core element of its business model. This year, Ceres partnered with CDP, the We Mean Business Coalition, and EDF to create a report on Climate Transition Action Plans, presenting guidance on aligning business strategies and policy advocacy with emissions reduction goals in a way that is just and equitable.

Once goals and plans are published, regular disclosure is critical. Companies must disclose their actions, assess progress, and adjust. Mandatory climate disclosure, as proposed by the SEC in March of 2022, ensures broad compliance and comparable transparency.

Ambition 2030 data snapshots will be regularly updated to provide accountability and actionable information for companies, investors, policymakers, regulators, and the broader public. The coming seven years will pass rapidly, but critical climate goals are achievable. We will need all hands on deck.

Contact: Reginald Zimmerman

Original Publication

Join us in New York City this March for Ceres Global, where we'll set the course for the global action necessary to build a more just and sustainable world by 2030.

SOURCE Ceres