The Transition Pathway Initiative (TPI) study looked at the most important companies in terms of market capitalisation from the coal mining, electricity, oil and gas sectors. Specifically, the question was which companies recognise and - even more importantly - support the temperature targets of the Paris Climate Change Agreement.
The study shows that only 54 per cent of the 132 companies recognise the Paris Agreement's objectives at all. The aim to reduce rising global temperatures this century by two degrees Celsius in the medium term, and 1.5 degrees Celsius in the long term, is supported by 39 per cent of the companies.
By contrast, only 13 of the 132 companies have set a climate-neutral target for their own emissions. Nine companies have set this target for 2050 or later; Eni and Exxaro Resources want to be climate neutral by 2030, Orsted and National Grid by 2025.
The work of the University of Oxford and the TPI was completed before RWE announced its ambitious goal of being carbon neutral by 2040, which compared with the targets of other companies in the industry, demonstrates we are among the pioneers of our industry. If you are interested in the details of the study, more information can be accessed here.
In addition, RWE achieved an excellent ‘B’ rating in the result of the 2019 Carbon Disclosure Project (CDP). The CDP ranks the world’s most pioneering companies leading on environmental transparency and performance. You can find out more about the results here.