Only 1 in 8 of the world's most-polluting companies are on track to reduce their greenhouse gas emissions in line with global temperature goals, a study funded by investors with $14 trillion under management found on Wednesday.
The findings underscore the gulf between commitments made by the private sector and the transformation that scientists say is needed to stop the climate crisis wrecking the planet.
"The clock is ticking on irreversible climate change," Adam Matthews, co-chair of the Transition Pathway Initiative and the director of ethics and engagement at the Church of England Pensions Board, said in a statement.