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NILGOSC backs CDP campaign asking big emitters to meet 1.5°C goal

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NILGOSC joined a group of 318 financial institutions and multinational firms, with $37 trillion USD in assets, in calling on over 1,000 of the world’s highest impact businesses to commit to and set a science-based target aligned with 1.5°C temperature scenarios.

The 2022 CDP Science-Based Targets campaign is coordinated by the global non-profit CDP, which runs the world’s environmental disclosure system. This is the third year of the CDP’s campaign, which has grown by over 30% since last year, both in terms of the number of supporting organisations and their collective assets and purchasing power.

CDP sent letters on behalf of NILGOSC and the other participating organisations to over 1,000 companies worldwide. The companies targeted are critical for global efforts to limit global warming to 1.5°C. Collectively, they are the source of 7 gigatons of Scope 1 and 2 emissions, and have a combined market value of over US$25 trillion (44% of the entire MSCI All Country World index).  The letters issued, press each company to set an emissions reduction target approved through the Science Based Targets initiative, the industry standard for credible climate targets that cover all of a company’s value chain emissions. 

More information on the campaign and a list of supporters can be found on the CDP’s Campaign page.

NILGOSC’s participation follows it’s support of the CDP’s 2022 Non-Disclosure Campaign. Alongside 262 other investors from nearly 29 countries, NILGOSC supported CDP in engaging with over 1,400 of the world’s highest impact companies to disclose data via CDP. The campaign aims to increase environmental disclosure among companies that have either never disclosed, or stopped doing so through CDP. NILGOSC, alongside the other supporters, believe that increased corporate transparency on environmental impact is a key enabler to improve company performance and create a more resilient economy.  The full list of companies targeted in the ongoing campaign, as well as a list of investors involved in the campaign, can also be found on the CDP website.

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