Technology & Data

Race to Zero’s Data Explorer Tackles Transparency

The UN’s Race to Zero (RtZ) has launched Data Explorer, a tool that shares the climate data from the 500 largest companies involved into the global campaign in a bid to promote increased transparency around net zero commitments. Developed by Climate Arc and powered by data from CDP, the tool tracks the progress of companies in line with the RtZ criteria. “This is now the era of accountability,” said Catherine McKenna, Former Chair of the UN’s High-level Expert Group on the Net Zero Emissions Commitments of Non-State Entities. “Bringing to light data on the actual progress of companies and financial institutions on climate is critical to ensuring integrity and tackling greenwashing.” Analysis conducted by Data Explorer noted that two-thirds of the 500 assessed companies have published a net zero plan, with 90% setting a specific data for their target and over 70% disclosing an absolute interim decarbonisation target for 2030. Of the companies that have published their historical emissions data (393), their Scope 1 and 2 emissions fell at a mean rate of -6.45% per year between 2019-21. However, there is a continued lack of consistency of reporting on Scope 3 emissions across the RtZ’s 15 related categories, with 30% of assessed companies reporting against three categories or fewer. Data Explorer will also contribute to the Global Stocktake process this year. Razan Al Mubarak, UN Climate Change High-level Champion from the COP28 Presidency, said: “We know that the Global Stocktake will tell us we are globally off track on emissions reductions. I am happy to see RtZ companies are moving in the right direction, and I am confident that bridging multi-stakeholder partnerships between non-state actors and governments will deliver the policy outcomes to drive the real economy even further, and course correct any inadequate action.” 

 

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