Thousands of companies have set ambitious, interim 2030 carbon reduction goals and pledged net-zero emissions by 2050. Yet, these corporate net-zero goals present greenwashing risks without sufficient action to underpin plans. A new report, released today by the Center for Climate and Energy Solutions (C2ES), examines the state of low-carbon transition planning in real-economy sectors.

The research for this report sought to understand (1) the existing guidance landscape for target setting, planning, and credibility, as well as broader stakeholder requirements for transition planning, and (2) the current state of corporate transition planning through targeted research and interviews with real economy companies. The result is a set of recommendations that coalesce around three key themes:

• Incentivize a shift from planning and disclosure to measurable performance against goals and targets
• Enhance transparency through regular disclosure, interim target-setting, and communication of roadblocks and knowledge gaps
• Embrace iterative planning that seeks to update and evolve plans to reflect changing dynamics and best practices

“A credible plan provides sufficient detail on the actions, investments and advocacy that a company will undertake to achieve a fully specified, science-aligned net-zero commitment. But we also recognize that plans will need to be updated based on future changes in the economy, technology, and policy so putting a robust governance system in place to revise plans is foundational to long-term success,” said Nick Franco, a report author and Director of Corporate Low-Carbon Transition Planning at C2ES.

This new report is part of C2ES’s corporate low-carbon transition planning program aimed at supporting the development of credible low-carbon transition plans in real-economy sectors.

Read the entire report here.