Recently Sustainable Brands shared the news that the Interfaith Center on Corporate Responsibility has sent letters to over 100 publicly held companies. The purpose of the letter was to encourage them to make good on statements that they would adopt science-based goals within the next two years.
The Interfaith Center on Corporate Responsibility is a coalition of faith and values-driven organizations who view the management of their investments as a powerful catalyst for social change. Their membership comprises nearly 300 organizations including faith-based institutions, socially responsible asset management companies, unions, pension funds and colleges and universities that collectively represent over $200 billion in invested capital.
The response from these countries was very positive. Many companies went as far to say that will continue to do their part regardless of the incoming Trump administration, that may seek to lower or remove environmental regulations.
Hitting a science-based target requires substantial investment in clean, renewable energy. In recent decades, companies that aimed to curb their climate-warming emissions had few reliable ways to assess how much they needed to cut to do their part. Some aimed for easy-to-hit targets based on what could be confidently accomplished. Science-based targets are gaining momentum because they rely on science and take the guesswork out of setting ambitious greenhouse gas emissions reduction targets.
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