Corporate climate targets are a mess. These researchers have a proposal to fix them.

In order to combat the worst impacts of global warming, scientists stress the importance of achieving net-zero greenhouse gas emissions by midcentury. However, the current strategy of relying on companies, governments, and institutions to set their own emission reduction targets has fallen short. A new research paper from the University of Oxford and the Exponential Roadmap Initiative proposes a different approach to corporate climate reporting. This approach focuses on three spheres of influence – product power, purchasing power, and political power – to incentivize companies to take meaningful action beyond their value chain. By rewarding companies for efforts such as lobbying for climate policies and investing in conservation projects, the researchers believe real change can be achieved on a systemic level. This innovative proposal aims to address the flaws in current climate reporting systems and encourage companies to play a more substantial role in the fight against climate change.