A new report has concluded that 24 of the world’s richest companies are hiding climate inaction behind a veil of greenwashing, while they rake in a combined revenue of over $4.5 trillion and contribute 4% of global emissions.
The 2023 edition of the Corporate Climate Responsibility Monitor – a joint initiative from the NewClimate Institute and Carbon Market Watch (CMW) – alleges that the 24 major companies it assessed in the report have failed to act to achieve significant emissions reductions.
Their failure came despite their attempts to position themselves as climate leaders through association with the UN-backed ‘Race to Zero’ campaign.