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Business as usual trumps transformation: 1.5°C Businesses not on track

Martin, Julia LU (2023) In Master Thesis Series in Environmental Studies and Sustainability Science MESM02 20231
LUCSUS (Lund University Centre for Sustainability Studies)
Abstract
Averting catastrophic climate change requires private businesses to reach net zero emissions while staying within 1.5°C of global warming. The nonprofit organization Project Drawdown and the literature suggest that companies have to engage all capacities to achieve ambitious emissions reductions, including their social power, governance, political advocacy, finance, and employee creativity. I evaluated the climate strategies of 21 U.S. firms currently best in class (approved by Science Based Targets initiative and compatible with 1.5°C) against a typology of 27 effective climate actions. Findings suggest that the companies fulfill many climate actions, but it is far from ideal. 76% engage employees on climate action, but only 5% plan on... (More)
Averting catastrophic climate change requires private businesses to reach net zero emissions while staying within 1.5°C of global warming. The nonprofit organization Project Drawdown and the literature suggest that companies have to engage all capacities to achieve ambitious emissions reductions, including their social power, governance, political advocacy, finance, and employee creativity. I evaluated the climate strategies of 21 U.S. firms currently best in class (approved by Science Based Targets initiative and compatible with 1.5°C) against a typology of 27 effective climate actions. Findings suggest that the companies fulfill many climate actions, but it is far from ideal. 76% engage employees on climate action, but only 5% plan on divesting from fossil fuels. 90% focus on low impact solutions like acting as role models compared to highly transformational measures like advocating for climate policy at all levels of government (only 34%). Companies must step up their climate action game to not exceed a 1.5°C trajectory. (Less)
Please use this url to cite or link to this publication:
author
Martin, Julia LU
supervisor
organization
course
MESM02 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
climate policy, business climate action, emissions reduction targets, sustainable business, high-impact, Paris Agreement, sustainbility science
publication/series
Master Thesis Series in Environmental Studies and Sustainability Science
report number
2023:031
language
English
id
9122519
date added to LUP
2023-06-12 08:26:42
date last changed
2023-06-12 08:26:42
@misc{9122519,
  abstract     = {{Averting catastrophic climate change requires private businesses to reach net zero emissions while staying within 1.5°C of global warming. The nonprofit organization Project Drawdown and the literature suggest that companies have to engage all capacities to achieve ambitious emissions reductions, including their social power, governance, political advocacy, finance, and employee creativity. I evaluated the climate strategies of 21 U.S. firms currently best in class (approved by Science Based Targets initiative and compatible with 1.5°C) against a typology of 27 effective climate actions. Findings suggest that the companies fulfill many climate actions, but it is far from ideal. 76% engage employees on climate action, but only 5% plan on divesting from fossil fuels. 90% focus on low impact solutions like acting as role models compared to highly transformational measures like advocating for climate policy at all levels of government (only 34%). Companies must step up their climate action game to not exceed a 1.5°C trajectory.}},
  author       = {{Martin, Julia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  series       = {{Master Thesis Series in Environmental Studies and Sustainability Science}},
  title        = {{Business as usual trumps transformation: 1.5°C Businesses not on track}},
  year         = {{2023}},
}