ESG and net zero emissions targets: accelerating climate action through private sector voluntary commitments in Brazil

Abstract

The ESG discourse has gained track in Brazil lately, and with it, the awareness on the climate change emergency by the private sector. To tackle that issue, a global net zero emission target was set by science (IPCC) to 2050, and many campaigns and networks started to stimulate joint collective action from different stakeholders, including enterprises. The paper seeks to demonstrate, in that scenario, how and why many multinational companies and large Brazilian enterprises, started to set net zero emissions goals, in line with the Paris Agreement. It is analysed two case studies, exemplifying that course of action. The research concludes by pointing that to be credible those net zero targets should detail which short and medium term actions would be taken to achieve climate neutrality, and also include all sources of emissions from the companies.