More than a quarter of the surveyed companies were UK based. Of those who do, only one in three have targets that extend beyond 2025. Short termism runs through all corporate strategies. This despite reported board-level oversight from 95% of companies, from those returning surveys.
But a third also reported that they had increased emissions from 2017 to 2018. CDP received 849 responses from European companies in 23 countries. These companies account for 2.3 billion tons of CO2 emissions. The businesses include 82 large private companies, with combined revenues in excess of €614 billion.
Almost half (46%) of respondents report opportunities to drive revenue through demand for lower emissions products and services, with a quarter (26%) seeing these opportunities either currently or in the short term future.
It should come as no surprise that businesses are only acting in a positive manner when reducing their bottom line or seeing expanding into new markets to generate more profit, other than being required to comply with legal and regularly requirements as set by governments.
Corporations know that at least some of the public are concerned by climate issues, and may choose corporations over others, on the basis of this greenwash, so promote this to increase market share. A good example of this in BP (British Petroleum), some years back changing their corporate logo to a flower, pictured above. BP is one of the worst offenders when it comes to climate change.