Climate Transition Archives - Page 2 of 3

Toray Climate Transition Analysis

Despite Toray Industries’ stated goal of achieving Paris-aligned status by 2031 and net zero by 2050, analysis by Planet Tracker concludes that Toray lacks a robust plan to achieve net zero for Scope 1 & 2 by 2050 and highlights the absence of a clear strategy for Scope 3 emissions. While Toray aims to reduce absolute emissions by 50% per unit of revenue by 2031, Planet Tracker argues that the company is not on track to meet these targets.

Air Liquide SA (AI) Climate Transition Analysis

Report Petrochemicals Air Liquide Chemicals, Shareholder Engagement PT0088

From 2019 to 2021 Air Liquide experienced a weighted absolute increase of 16% in total Scope 1, 2 and 3 emissions. Without further mitigation, Air Liquide will overshoot SBTs by a significant 243%, failing to align with a 1.5°C pathway by 2030 or a well-below 2°C warming scenario by 2035. However, Planet Tracker does not anticipate that this will happen if the company follows through with its forward-looking disclosed initiatives.

Incitec Climate Transition Analysis

Report Petrochemicals Incitec Pivot Chemicals, Shareholder Engagement PT0086

Incitec Pivot demonstrates a robust commitment to its climate transition with ambitious greenhouse gas (GHG) reduction targets and proactive risk management. The company’s revised transition plan aims to achieve a 42% absolute reduction in emissions by 2030 and Net Zero by 2050. A more detailed connection between mitigation projects and transition investments would enhance Incitec’s transparency and align the company’s efforts more clearly to its 1.5°C target by 2030, and subsequent Net Zero by 2050.

LyondellBasell (LYB) Climate Transition Analysis

Report Emissions, Petrochemicals LyondellBasell Industries NV Chemicals, Shareholder Engagement PT0083

LyondellBasell has a short-term climate transition plan which is much more credible than many of its CA100+ chemical sector peers. As a result, it is on target to meet its 2030 emissions target. Beyond this date, however, there is a lack of clarity, making it difficult for investors to understand how it will achieve its net zero target by 2050.

Walmart Climate Transition Analysis

Report Emissions, Food Systems Walmart, Walmart Inc Financial Risk & Reward, Food & Beverage, Shareholder Engagement Equity PT0082

Walmart is expected to align with a 2°C pathway by 2030 when historic operating emissions are considered. Walmart’s transition plan displays a mix of strengths and limitations, according to Planet Tracker’s analysis. While engaging extensively with suppliers and advocating for climate policies, its transition efforts are hindered by a substantial rise in Scope 3 emissions and thus an overall increase in total emissions.

Dow (DOW) Climate Transition Analysis

Report Emissions, Petrochemicals Dow Chemicals, Shareholder Engagement PT0081

Planet Tracker’s analysis shows that Dow is on track for a +3ºC climate scenario by 2030, although the company claims it is ‘aligned with a 1.5°C world’. With 72% of emissions coming from Scope 3 and Dow having no Scope 3 target, it is difficult to have confidence in the management’s statement.

Bayer (BAY) Climate Transition Analysis

Report Emissions, Petrochemicals Bayer Chemicals PT0077

A new analysis of German multinational pharmaceutical and biotechnology company Bayer finds that the company shows extremely modest plans to reduce its Scope 3 emissions, despite thes accounting for over three quarters of its emissions. Although the company is committed to ambitious climate targets, including to become Net Zero by 2050 across its entire value chain, there is no roadmap for investors to show how it will achieve this.

Climate Transition – Unilever Leads; Colgate and P&G Lag

Report Emissions Colgate-Palmolive Co, Procter & Gamble, Unilever Food & Beverage, Shareholder Engagement PT0076

Analysis of three leading consumer goods companies reveals a systematic failure to tackle upstream Scope 3 emissions effectively.

BASF (BAS) – Climate Transition Analysis

Report Emissions, Petrochemicals BASF Chemicals, Shareholder Engagement PT0074

An analysis of German multinational chemicals company, BASF, in July 2023 found that the company was failing to meet its stated climate goals of Net Zero emissions by 2050 and was instead relying on unproven future technologies.

Procter & Gamble (PG:US) – Climate Transition Analysis

Report Emissions, Food Systems Procter & Gamble Food & Beverage, Shareholder Engagement Equity PT0073

Procter & Gamble’s emissions are projected to follow a business-as-usual (BAU) trajectory, resulting in a +3°C warming scenario by 2030. The primary reason for not meeting the emissions level recommended by the Science-Based Targets Initiative (SBTi) for a 1.5°C alignment is P&G’s failure to address upstream Scope 3 emissions. While P&G’s Climate Transition Plan (CTP) outlines various initiatives to reduce its environmental impact, the absence of investment disclosure regarding mitigation activities creates uncertainties regarding the company’s ambition.

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