UK Top Firms Not Cutting Carbon Emissions Enough: Survey

One-third of Britain's biggest listed companies are not cutting carbon emissions by enough to help meet global climate goals, despite pledges to become far more green, according to a survey

London, (APP - UrduPoint / Pakistan Point News - 1st Mar, 2021 ) :One-third of Britain's biggest listed companies are not cutting carbon emissions by enough to help meet global climate goals, despite pledges to become far more green, according to a survey.

A total 31 companies on London's FTSE 100 index -- and not only oil and mining giants -- are emitting levels of carbon dioxide that tally with global temperature increases of more than 2.7 percent by 2050, according to data from investment group Arabesque and seen by AFP on Monday.

The Paris climate agreement aims to limit global temperature rises to less than two degrees Celsius (3.6 Fahrenheit) above pre-industrial levels and to pursue efforts to go down to 1.5 degrees.

Experts believe this can be achieved only by the world reaching net zero carbon emissions by 2050 or sooner.

"Businesses hold the key to meeting Paris Agreement goals and the biggest firms must lead from the front," said Todd Bridges, Arabesque's head of research and sustainable investing.

"But this data shows the FTSE 100 still needs to make progress on limiting global warming to well below two degrees Celsius." Britain's tackling of climate change is in sharp focus ahead of its hosting of the COP26 climate summit in November in the Scottish city of Glasgow.

Britain has meanwhile committed into law a target of net zero carbon emissions by 2050.

Prime Minister Boris Johnson last week urged fellow leaders to take immediate action on the climate crisis or face worsening global instability.