New model for businesses to measure Paris Agreement progress
10 August 2022
Researchers from the University of Oxford, the University of Queensland and Princeton University, have developed a new model for businesses to measure their progress to meet the Paris Agreement, discovering that some companies are not on track to meet net zero by 2050 despite public statements and climate commitments.
The study, published in Nature Communications, created a new framework for carbon performance management, to better align companies with the Paris Agreement and to increase transparency for investors.
Matthew Ives, one of the report's coauthors, said, “The Paris Compliant Pathways (PCP) framework we have created allows companies, investors, and other stakeholders to strictly evaluate companies’ performance against the goals of the Paris Agreement - to keep average global warming well below 2 degrees above pre-industrial levels."
The authors say that current pathway modelling creates discrepancies, leaving many corporations claiming to be Paris-compliant at high risk to investors during their decarbonisation transition.
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