Companies scramble to cut carbon emissions
Hundreds of companies around the world have promised to cut carbon emissions, but the deadlines they have set are years away and it is hard to tell if it is enough. According to scientists at the United Nations, the world's net emissions must drop to zero by 2050 to limit the rise in global temperature to no more than 1.5 degrees Celsius compared to pre-industrial levels. Following is a gist of some of the targets set by global companies ahead of the upcoming U.N. climate gathering in Scotland.
Boeing targets delivering commercial airplanes capable of flying on 100% biofuel by the end of the decade, as well as reducing environmental damage from fossil fuels the "challenge of our lifetime."
Royal Dutch Shell plans to build a biofuel facility in the Netherlands to help achieve its target of net-zero carbon emissions by 2050. Royal Dutch Shell also plans to sell Permian Basin assets to ConocoPhillips, exiting the largest U.S. oilfield and focus on clean energy transition.
McDonald's looks at beef in burgers to light bulbs to cut global GHG emissions to net zero by 2050 and aims to lower absolute emissions by about a third for both its suppliers and its nearly 40,000 restaurants around the world by 2030.
Chevron commits to net zero emissions by 2050, to cut upstream scope 1,2 emissions and pledges to triple low-carbon investment through 2028.
Dow expects to boost its core earnings by $3 billion a year over the next decade, with investments that include building a new net-zero carbon emissions facility. They signed eight new renewable power purchase pacts across Europe and Americas.
AT&T sets target to help businesses collectively reduce a gigaton of GHG emissions — 1 billion metric tons by 2035. They plan to work with businesses including Microsoft, Equinix and Duke Energy and research universities to deliver broadband-enabled climate solutions.
Chubb sets new goal to achieve carbon neutrality in its global operations by 2022 end through a combination of renewable energy and carbon offset purchases.
United Airlines plans to use about 3.4 MM gallons of low-carbon, sustainable aviation fuel derived from trash in 2021 vs roughly 1 MM gallons used each year since 2016. Airlines have used sustainable fuel since 2008 as part of efforts to reduce emissions, but so far this represents barely 1% of the fuel used worldwide.
Clorox targets net-zero carbon emissions by 2050, Scope 1 & 2 by 50% by 2030, Scope 3 by 25% by 2030.
Anglo American aims to reduce emissions by 30% by 2030 and achieve net zero by 2040, reduce the abstraction of freshwater in water scarce regions by 50% by 2030 from 2016 levels.
Spinoff South Africa thermal coal ops in 2021 to help reduce Scope 3 by 25%.
Glencore plans to reduce GHG emissions by 50% by 2035 compared to 2019 levels and achieve net zero by 2050 end and managed depletion of coal mines by mid-2040s.
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