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SHARM EL-SHEIKH, Egypt, Nov. 9, 2022 /PRNewswire/ At COP27 in Sharm el-Sheikh, Egypt, the Climate Investment Coalition (CIC), in collaboration with the Nordic Council of Ministers, presented
/PRNewswire/ At COP27 in Sharm el-Sheikh, Egypt, the Climate Investment Coalition (CIC), in collaboration with the Nordic Council of Ministers, presented.
Fast food giants bow to investor pressure on climate goals
Fast food giants including McDonald’s and Domino’s are ramping up their climate commitments under pressure from an $11 trillion (€9 trillion) global investor engagement in what has been called a “breakthrough year”.
Following a two-year investor engagement project with six leading fast food chains, five brands have now publicly stated that they will set, or have already set, science-based targets to reduce their emissions.
This also includes decarbonising their supply chains – often where the majority of a company’s greenhouse gas emissions come from via so-called Scope 3 emissions.
Last year, only two companies had made such commitments, according to research by the FAIRR initiative, a group of institutional investors involved with impact investing and engaging with companies.