LONDON – The Science Based Targets initiative (SBTi) has published a detailed response to a new report claiming that the world’s biggest corporations – including fashion giants Fast Retailing, H&M and Inditex – are failing on climate change.
The SBTi broadly welcomed the Corporate Climate Responsibility Monitor (CCRM) – a joint initiative from the NewClimate Institute and Carbon Market Watch – which accused corporations of “hiding climate inaction behind a fig leaf of net zero plans”.
The initiative, supported the report’s call for greater corporate accountability and transparency, but also responded to “key methodological assertions” in the report through a “comprehensive technical response”.
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