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Laxman Pai, Opalesque Asia:

Decarbonization strategies are not keeping pace with the commitments being made by some of the world's most polluting companies, Climate Action 100+ (CA100+)'s latest Net Zero Company Benchmark update has found.

Climate Action 100+, which represents 700 investors with more than $68 trillion in assets under management who are focused on the world's biggest corporate greenhouse gas emitters, said: "Companies are getting better about making net-zero commitments, but not following through with strategies to achieve them."

The investor engagement initiative said in a press release that the investors engage with companies to improve corporate governance of climate change, reduce GHG emissions and strengthen climate-related financial disclosures. The group is coordinated by five investor networks.

The Benchmark's Alignment Assessments complement the Disclosure Framework by measuring the implementation of Paris-aligned corporate actions.

Whilst focus companies are incrementally improving their disclosures under the Disclosure Framework, the latest Alignment Assessments suggest their real-world activities do not yet demonstrate any meaningful shifts in business models at some companies to align with the Paris Agreement.

However, the updated assessments released today show that focus companies have continued to improve their disclosures, as shown by the Disclosure Framework, since the March 2022 release of Benchmark assessments.

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