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Climate Change: China’s firms lag behind Asia, North America, Europe in net-zero targets with only 4 per cent adherence, study findsClimate Change: China’s firms lag behind Asia, North America, Europe in net-zero targets with only 4 per cent adherence, st

Written by: SCMP
15 Jun 2022

According to a study of more than 4,000 entities worldwide tracked by researchers at NewClimate InstituteOxford Net ZeroEnergy and Climate Intelligence Unit and Data-Driven EnviroLab, only 11 out of 265 Chinese listed companies have set NetZero targets and deadlines. The 4% adherence rate compared with the 20% in East Asia, 36% in North America and 58% in Europe, showing that China's firms are lagging behind and there is a lack of urgency almost two years after the country pledged to achieve carbon neutrality status by 2060.

In HongKong, listed firms are required to set green house gases emission targets. Net zero targets are encouraged but not mandatory until 2025, when the FSB Task Force on Climate-related Financial Disclosures (TCFD), is adopted.

“You can imagine that the big sticks of the regulators are coming, but [in the meantime] more education and learning also need to happen before people can really embed it into their [disclosure] processes,” said Helene Li, our Co-Founder & CEO, in the interview.

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