Investor Climate Disclosure

Relevant Standards

Examples of Corporate Climate Disclosures

Let's look at a few companies:

  • Adobe - Corporate Social Responsibility
    • Scope 1, 2, and 3 emissions - CSR Report page 22
    • Third party verified emissions - Audit letter
    • Breakdown of Scope 3 emissions - Not available
    • Emissions reduction targets - Not in CSR report but it is on the SBTi list of companies taking action (search for Adobe): "Adobe Inc. commits to reduce absolute scope 1 and 2 GHG emissions 35% by 2025 from a 2018 base year. Adobe commits to reduce absolute scope 3 GHG emissions from business travel 30% over the same timeframe. Adobe also commits that 55% of its suppliers by spend covering purchased goods and services and capital goods, will have science-based targets by 2025.  The targets covering greenhouse gas emissions from company operations (scopes 1 and 2) are consistent with reductions required to keep warming to 1.5°C."
  • American Airlines - Environmental, social, and governance
    • Scope 1, 2, and 3 emissions - AAG Environmental Data report
    • Thid party verified emissions - last page of Environmental Data report
    • Breakdown of Scope 3 emissions - Not available, 
    • Emissions reduction targets - "Committed" under SBTi but no definite target set here.  According to the 2020 ESG Report, the goal is to "Achieve net zero direct carbon emissions by 2050" through a combination of upgrading to more efficient aircraft, switching to sustainable aviation fuel, energy efficiency and renewable energy on the ground, and carbon offsetting via CORSIA.
  • UPS - Social Impact Reporting
    • Scope 1, 2, and 3 emissions - TCFD disclosures page 5
    • Emissions are not third party verified.  An audit letter on page 6 of SASB report says that their auditor has reviewed their SASB disclosures (which includes only Scope 1 and Scope 3 contractors' fuel emissions)
    • Breakdown of Scope 3 emissions - Not available
    • Emissions reduction targets - In TCFD and SASB disclosures, "...an environmental sustainability goal – achieving carbon neutrality by 2050. The road map to carbon neutrality by 2050 includes the following targets: • By 2025 o 25% renewable electricity for facilities (existing goal). o 40% alternative fuel purchases as a percent of total ground fuel (existing goal). • By 2035 o 30% sustainable aviation fuel. o 100% renewable electricity for facilities. o 50% reduction in CO2 per package delivered for global small package (2010 baseline). "


Research