The Paris Agreement is a legally-binding international commitment to keep the rise in global temperature to below 2°C (3.6 °F). As part of this, the UK has committed to:
a 68% reduction in its emissions by 2030
a target of achieving Net Zero emissions by 2050
To reach these goals, in 2021 the UK made the measurement and disclosure of climate-related financial information mandatory for all large listed companies, financial institutions and public sector bodies.
By applying pressure to the largest institutions to measure and disclose their impact, the wheel has been set in motion for environmental accountability to be passed down the value chain to smaller businesses, which represent the largest proportion of the global economy.
In short, company engagement with the issue of climate change is moving from optional to mandatory.
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