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Large private companies are lagging behind public companies on climate. Yet their operations will be caught by regulation, creating a massive risk blindspot.

Paris (AFP) April 21, 2024 - Only 40 of the world's 100 largest private firms have set net-zero carbon emissions targets to fight climate change, according to a report released Monday, lagging far behind public companies.

Only 40 of the world's 100 largest private firms have set net-zero carbon emissions targets to fight climate change, according to a report released Monday, lagg

ABC NewsCorporate America took notice four years ago when Larry Fink, CEO of investment giant BlackRock, declared climate change a top concern. “Climate risk is investment risk,” Fink wrote in an annual letter popular in C-suites.His latest letter, released last month, spans well over 100 paragraphs before the first mention of “climate.” Whereas Fink mentioned “climate” a total of 29 times in the 2020 letter, he wrote it just four times in the missive last month.The shift in Fink’s letters has coincided with an apparent wider chill of momentum behind climate action among many of ...

Despite the growing momentum for climate action, particularly in regulatory spheres, the report indicates a slow pace of progress among private firms. Even as jurisdictions around the world implement climate disclosure regulations, private companies have been slow to embrace net-zero targets. - Newsx