![]() “Management must be accountable for delivering on these pledges. Guterres said that net-zero pledges should be accompanied by a plan for how the transition is being made. ![]() This toxic cover-up could push our world over the climate cliff. “Using bogus ‘net-zero’ pledges to cover up massive fossil fuel expansion is reprehensible. The UN chief also sent a strong message to fossil fuel companies and their “financial enablers” that have pledges that exclude core products and activities poisoning the planet and urged them to review their promises and align them with the report’s guidance. “The message is clear to all those managing existing voluntary initiatives – as well as CEOs, mayors governors committing to net-zero: Abide by this standard and update your guidelines right away – and certainly no later than COP28,” Mr. ![]() For financial institutions this means all of their finance activities, and for businesses and cities it means all emissions – direct, indirect and those originating from supply chains. The targets must also cover all greenhouse emissions and all their scopes. Pledges should have interim targets every five years starting in 2025,” the Secretary-General explained. “That means global emissions must decline by at least 45 per cent by 2030 – and reach net zero by 2050. ![]() Promises cannot be a ‘toxic cover-up’Īccording to the report, net-zero pledges must in line with the UN Intergovernmental Panel on Climate Change ( IPCC) scenarios limiting warming to 1.5 degrees. UNIC Tokyo/Momoko Sato The report’s recommendations, as explained by the UN chief 1. ![]()
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