According to the CPD, the failure of transport firms to address carbon reduction risks is startling, given that the transport industry accounts for 13% of global carbon emissions and 60% of oil consumption in high-income countries. However, the CDP said that a handful of transport firms, including UPS as well as Air France and Toyota, have embraced the need to address climate change and rolled out comprehensive carbon-reduction initiatives and green investment programmes. The failure of many transport firms to emulate those companies that have adopted carbon-reduction programmes could be the result of lax carbon regulations in many countries.
Joanna Lee, CDP chief partnership officer said "There really is quite a big spread between the leading companies' understanding of carbon-reductions and the broader group which has quite a long way to go."
Geographically, transport firms in Europe and South America are leading the way in terms of setting carbon reduction targets. Among South American transport firms, 60% have set carbon emission targets and carbon reduction strategies, compared to 52% of European companies and just 47% in the US.
Road transport accounts for the vast majority of the sectors' carbon emissions, at 80% followed by air at 13% and sea transportation at 7%.
The CDP is an influential non-profit counting 2,500 organizations in 60 countries among those who voluntarily disclose their carbon emissions and climate change strategies. The CDP is also planning to release three reports for the investment community later this year analyzing carbon reduction strategies across the electric utilities, oil and gas, and automobiles sector.
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