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Businesses in Canada, on the other hand, were the worst performing in terms of decarbonisation plans, with 88 per cent of reported greenhouse gas emissions coming from firms that have no disclosed net zero plans.
Across all regions and sectors, only the European power generation sector achieved a temperature rating below 2 degrees Celsius, driven by targets from renewable and nuclear energy companies.
Many companies have plans in place to reduce emissions directly produced from their business operations, such as vehicle exhausts and office heating.
Far fewer have plans covering emissions produced by the consumption or use of their products and which often count for most of their carbon footprints.
Companies in Germany, Italy and the Netherlands had policies to reduce their emissions across their entire value chain, which equated with a 2.2 degrees Celsius temperature rise, according to the CDP.
“However, despite this progress, the average temperature ratings for corporates remain well above 1.5 degrees Celsius across all major European economies,” it said.
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