A new report published by CDP, claims that nearly 90% of the largest corporations have set targets to reduce their carbon emissions.
The report states that 14% of the 1,073 companies sampled have either planned to or already have carbon emission reduction targets approved.
This shows an increase of around 5% on the previous year under CDP’s Science Based Targets initiative partnership which will also see around 30% more setting targets by 2020.
CDP also created a ranking of companies, grading their action taken on climate change, water and deforestation.
160 of these companies have been given an A-grade for their approaches.
The leading companies in the list include Unilever and L’Oréal, who achieved an A rating from CDP across each category.
The report claims that over a third of companies provide a low carbon product, the most popular of these being electric vehicles.
This is an increase from 30% in 2016.
CEO of CDP, Paul Simpson said: “Two years ago, the Paris Agreement fired the gun in the race to a low carbon economy. We can already see corporate winners and losers emerging.”
“That’s great news for those companies seizing the opportunity of the low carbon economy but the rest need to pick up the pace or risk losing out.”