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‘Must be credible’: Energy giants challenged over climate action

Countries have less than three years to reduce the rise of planet-heating carbon emissions and less than a decade to cut them almost in half to ensure a ‘liveable future’.

The climate commitments of global energy giants lack credibility as they rely on costly technologies that have yet to be proven at scale, according to a report published by Carbon Tracker.

The non-profit think tank that researches the effect of climate change on financial markets noted on Thursday that despite a spate of new targets set by the top 15 global energy firms, most are still not pledging an absolute cut in emissions.

It found so far that only four of the firms have made pledges that include a reduction in the emissions generated by the use of their products, such as burning gasoline in cars.

And just four have set 2030 reduction targets, which are important in driving quick progress

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