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Corporate Climate Responsibility Monitor (CCRM) 2024 Report

Why is it in the news?

  • Corporate Climate Responsibility Monitor (CCRM) 2024 report released by New Climate Institute in collaboration with Carbon Market Watch.

More about the news

  • The report evaluates the transparency and integrity of climate strategies among 51 major global companies.
  • Focuses on four main areas: tracking and disclosure of emissions, setting emission reduction targets, reducing own emissions, and taking responsibility for unabated and residual emissions.

Key findings

  • Collective ambition of companies’ 2030 and net-zero climate targets has improved over the last two years.
  • Most companies still fall short of the economy-wide emission reductions needed to limit global warming to below 1.5掳C.
  • Many companies rely on contentious solutions such as Carbon Capture, Utilization, and Storage (CCUS), standalone Renewable Energy Certificates (RECs), bioenergy, and carbon dioxide removals instead of emission reductions.


  • Mitigate over-reliance on contentious solutions like CCUS and RECs.
  • Governments should set binding sectoral climate targets and expand carbon pricing or cap-and-trade emissions trading systems.
  • Companies should accelerate the revision cycle for corporate climate targets towards 2030.
  • Regulators, standard setters, and voluntary initiatives should provide more prescriptive guidelines for including fossil fuel phase-out in corporate strategies.
Initiatives for Improving Corporate Climate Responsibility (CCR)

路聽聽聽聽聽聽 UNFCCC’s Race to Zero Campaign.

路聽聽聽聽聽聽 Recommendations of UN High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities (HLEG).

路聽聽聽聽聽聽 International Organization for Standardization (ISO) Net Zero Principles.

路聽聽聽聽聽聽 Introduction of new Science Based Targets Initiative鈥檚 (SBTi) standards.


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