FT News Briefing The corporate backlash against net zero
Dec 2, 2022
Brussels is pushing for a $60 price cap on Russian oil, stirring up economic discussions. Emerging markets are making a strong comeback, defying past challenges. Meanwhile, corporations are feeling the heat over net zero commitments, with the UN calling for more genuine efforts. Lastly, Hawaii's Mauna Loa has erupted after nearly 40 years, offering a thrilling spectacle and new opportunities for scientific research.
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Emerging Markets Rebound
- Emerging markets saw a strong rebound in November 2022 after a difficult year.
- This rally, while significant, hasn't erased the overall losses for the year.
Net-Zero Backlash
- Many corporations are facing a backlash for their net-zero pledges.
- A UN report criticized these pledges as vague and lacking scientific rigor.
Improving Net-Zero Strategies
- Companies should focus on reducing actual emissions rather than relying on carbon offsets.
- Governments need to support businesses by creating policies that incentivize green technologies.