PARIS — From carmakers to fast fashion, dozens of major international companies are failing to reduce their greenhouse gas emissions at the pace required to slow climate change, a report said Tuesday .Pedestrians and shoppers walk past a branch of fashion retailer H&M in central Stockholm, Sweden on July 17, 2023.
Taken together, the brands scrutinised in this report — mostly household names including H&M Group, Nestle and Toyota — accounted for 16 per cent of global emissions in 2022. Global emissions need to be reduced by 43 per cent by 2030 to align with the Paris goals, according to United Nations climate scientists.
The companies assessed in this report — majors from the automotive, food and agriculture, fashion and energy sectors — were rated against the honesty of their climate pledges and progress toward the 1.5-degree-Celsius benchmark.Italian and Spanish energy giants Enel and Iberdrola led the pack with a"reasonable" integrity rating.Toyota told AFP that while it had not seen the report, its 2050 commitments had been certified by the benchmark Science-Based Target initiative .
None of the five brands analysed — H&M Group, Nike, Adidas, Zara owner Inditex and Uniqlo owner Fast Retailing — had plans to transition to business models that produced and sold fewer products.