Net Zero Company Benchmark Update

Assessments for 14 Australian focus companies have been released early ahead of AGMs —click here for more information.

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Climate Action 100+ opens public feedback survey for Net-Zero Company Benchmark

10th November 2021

Survey will gather stakeholder feedback to help inform future development of the Benchmark

The investor networks that coordinate Climate Action 100+ today announce the launch of a public feedback survey on its Net-Zero Company Benchmark.

Stakeholders are invited to share their feedback on the methodology used for the March 2022 focus company assessments. Feedback on the March 2021 company assessments is also welcome.

The survey is open until 31 December 2021. The feedback will be collated and considered for integration into the methodology used for company assessments in 2023.

The first Net-Zero Company Benchmark company assessments were released in March 2021. Now the foundation of all investor engagement coordinated through the initiative, the assessments have become a widely cited demonstration of the progress companies are making in aligning their businesses to the goals of Climate Action 100+ and a net zero future.

Take the survey.

Methodology references

  • Benchmark updates, including timelines and processes, can be seen here, along with more details on the amendments and methodologies for individual indicators and assessments in the ‘key resources’ section.
  • The original methodology can be seen here.

 

BACKGROUND ON CLIMATE ACTION 100+ AND THE NET-ZERO COMPANY BENCHMARK

The Climate Action 100+ initiative was initiated in December 2017 to engage some of the world’s highest corporate emitters that are systemically important in the transition to net-zero emissions by 2050 or sooner. More than 615 investors, responsible for over $60 trillion in assets, are now signatories to the initiative. Climate Action 100+ commenced with three high-level objectives for focus companies: improved climate change governance; action on greenhouse gas (GHG) emissions across the value chain; and reporting consistent with the Task Force on Climate-related Financial Disclosures (TCFD).

In March 2021, the initiative released the first set of company assessments using the Climate Action 100+ Net-Zero Company Benchmark, which builds on the three high-level objectives of the initiative. The March 2021 Benchmark found that whilst 52% of focus companies have committed to achieve net-zero GHG emissions by 2050 or sooner, there is still plenty of work remaining to ensure that companies develop and disclose robust transition plans. Full press release is available here.