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Modelling corporate climate targets in UK industry (EcoAct)

1. Outline

Companies increasingly disclose emissions reduction targets, often verified through schemes such as the Science Based Targets initiative. The Climate Change Committee (CCC) commissioned EcoAct to model how such corporate targets align with our Balanced Pathway for industrial decarbonisation.

2. Key messages

  • Of manufacturing companies for which we have emissions data, 61% have set a public emissions reduction target. On average, these companies’ near-term targets (to 2030) are similar to our Balanced Pathway, but their long-term targets (to 2050) fall far short of what is needed.
  • In aggregate, manufacturing companies’ targets correspond to a reduction in emissions equivalent to 32% of the reduction in the CCC Balanced Pathway by 2030, and just 19% by 2050. (This includes companies with no target).