Despite the commitments made by the companies, the level of emissions from CAC40 leads to + 3.5 ° C global warming by 2100, a temperature well above the 1.5 ° C target set in the Paris Agreement, warns theNGO Oxfam France in a report released on Tuesday 2 March.
Thanks to data provided by the company Carbon4 Finance, Oxfam France calculated, in “ CAC degrees too much: the unsustainable model of large French companies », The carbon footprint of the largest French companies and their climate trajectory, which takes into account their current emissions and their strategic commitments.
Among the companies studied, four of them (BNP Paribas, Société Générale, Crédit Agricole and Total) each have a larger carbon footprint than that of France. The study reveals that on average, every time they reach € 1,000 in turnover, companies’ carbon footprint of the CAC40 amounts to 4.1 tons of CO2eq, or the equivalent of the emissions generated by a round trip Paris-Sydney by plane, thus reveals theNGO.
For Alexandre Poidatz, financial and climate defense officer for Oxfam France and author of the report, “ in the face of the challenge of climate change, the state and citizens are not the only ones responsible. Large French companies have a considerable impact on the climate. Behind a beautiful green communication, there is an unsustainable economic model that resists. In the name of the pursuit of short-term profit, large companies sacrifice the investments (which are) necessary to make the ecological transition happen. Citizens, who are also customers, employees and savers of these large companies, are increasingly asking to act for the planet “.
Although no business sector is aligned with the Paris Agreement, there are disparities, notes theNGO. Out of 35 companies analyzed, only three (EDF, Schneider Electric and Legrand) have a carbon footprint and commitments to keep them on a path compatible with warming below 2 ° C. 22 companies have a trajectory associated with warming between 2 ° C and 4 ° C Ten companies (including three banks plus Total, TechnipFMC and Dassault Aviation) are on a climate trajectory above + 4 ° C.
Furthermore, the commitments made in the fight against climate change are very insufficient, Oxfam believes: “ Only eight of them have adopted a strategy to reduce all their absolute greenhouse gas emissions. Worse still, no company puts on the table the investments needed to initiate a credible ecological transition. In question ? The pressure of shareholders on the company to achieve higher and faster returns and dividends deprives companies of their ability to invest in the ecological transition. It is therefore necessary to arrange a long-term management so that the interests of the company and those of the planet converge. “, indicates theNGO in a press release.
- source : Oxfam France (email to Reporter)
- Drawing : screenshot. Oxfam credit