The first annual analysis of major energy company transition plans to be released since COP26 has found that only 1 in 10 are ambitious enough to keep global warming to 1.5°C.
This energy sector report is the first to feature TPI’s 1.5°C benchmark which assesses corporate targets against the IEA’s pathway to keep to 1.5°C of warming.
TPI assessed 140 of the largest energy companies (76 electric utilities, 58 oil & gas, 6 diversified miners involved in coal mining) on ‘Carbon Performance’ finding that 10% were aligned with a pathway to keeping global warming to 1.5°C, and a further 24% were aligned with a ‘Below 2°C’ pathway.
New energy report from @tp_initiative finds only 1 in 10 companies are ambitious enough to keep global warming to 1.5°C@actmatthews says investors need to engage: "if we reshape demand we reshape the energy providers."https://t.co/pRgCKA93OB
— Church of England Environment Programme (@CofEEnvironment) November 29, 2021