FedEx, General Electric, Dow Chemical and Rio Tinto are among the targets of a CDP-led campaign to get large corporates to set science-based targets. The campaign, backed by 367 financial institutions and multinational companies worth a combined US$33 trillion, is targeting 2,100 high-emitting companies to set 1.5°C aligned emissions reduction targets in line with the latest science. Legal & General Investment Management (LGIM), New York State Common Retirement Fund and Cathay Financial Holdings are among the financial sector backers of the campaign. Stephen Beer, Senior Manager, Sustainability and Responsible Investment at LGIM, said: “Through its Climate Impact Pledge, LGIM assesses over 5,000 companies in climate critical sectors and approaches over 100 companies for direct engagement to help drive change in their sectors and reduce systemic risks. One of our key expectations is for companies to have net zero targets which are certified independently, ideally by the SBTi. This is why we support efforts to encourage companies to adopt science-based targets.”
🌍 CDP launches its 2023-24 Science-Based Targets (SBT) campaign! Backed by 307 financial institutions, 60 multinationals, $33T assets. Pushing 2,100 companies toward 1.5°C targets.
— CDP (@CDP) November 1, 2023