Mongabay Newscast
How corporations meet their climate targets, on paper
Feb 18, 2025
Ketan Joshi, a researcher and communications consultant specializing in climate accountability, dives into the murky waters of corporate climate targets. He discusses a study revealing that while 60% of companies meet their decarbonization goals, many do so through questionable means like carbon offsets rather than genuine action. Joshi highlights the lack of transparency in the voluntary carbon market and criticizes reliance on these offsets, calling out the profit-driven intermediaries who sidestep real environmental impact.
52:32
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Quick takeaways
- Many corporations fail to meet their climate targets, with over 30% erasing them altogether, highlighting a worrying trend of non-compliance.
- Companies are increasingly relying on carbon offsets and renewable energy certificates, which may misleadingly project a commitment to sustainability without real action.
Deep dives
Corporate Climate Commitments and Accountability
Many companies have made public commitments to reduce emissions and achieve net zero targets, especially during the peak promise period around 2019 to 2021. Despite these commitments, a significant number of corporations have failed to meet their targets, with approximately 8.5% not achieving any progress. Additionally, over 30% of companies have quietly erased their climate targets altogether, indicating a concerning trend of non-compliance. This lack of accountability raises questions about the authenticity of corporate climate pledges and suggests that many companies are setting targets without any real intention to follow through.
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