A report has found that greenhouse emissions from 50 of the world’s top-emitting companies are offsetting the reductions realised elsewhere. CDP, formerly the Carbon Disclosure Project, says that the emissions from top emitters such as Wal-Mart and Exxon Mobil leapt by 1.7% since 2009 to reach 2.5 billion metric tons in 2013.
The top 50 emitters are responsible for 75% of all emissions reported in the Financial Times Global 500. The report was generated after requests from more than 700 investors accounting for $93 trillion in investments. The study is part of an ongoing annual review designed to motivate companies in managing and reducing their greenhouse emissions.
The CDP study noted that companies do not yet report emissions generated by indirect activities such as waste disposal and purchased products, even though these can account for as much as 47% of total emissions.
According to chief executive officer of CDP Paul Simpson, the scientific evidence and extreme weather events are strong calls to action. The world needs to find ways to create economic prosperity while reducing emissions, and all businesses should be doing more to take responsibility, along with governments.
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