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As companies in the U.S. face inflation, economic and political uncertainty, increased greenwashing litigation, and the realities of the high costs of resourcing decarbonization, some are considering greenstalling — walking back their GHG emissions reduction targets and delaying investments in decarbonization.
The United Nations’ Emissions Gap Report 2023 predicts 2030 GHG emissions must fall by 28% for the Paris Agreement’s 2°C pathway, and 42% to follow the 1.5°C pathway. Inaction is not acceptable. Decarbonization is a business imperative and corporate entities have a responsibility to act.
Delaying action is not smart business. A growing number of regulatory requirements in the U.S. and globally include disclosing emissions footprints and credible climate plans. Additionally, investor-facing ratings and frameworks continue to strengthen criteria for climate progress, and consumers and employees alike continue to signal they expect companies to take climate action.
