Best practices in corporate climate responsibility - Recommendations to companies and regulators in the Netherlands

The Ministry of Economic Affairs and Climate Policy has commissioned a report on best practices in setting voluntary net-zero and other deep emission reduction targets by companies. The reason of this report is the growing number of net-zero targets by corporations as well as other non-state actors. The aim of the report is to provide clarity on how to increase transparency in reporting and set meaningful climate targets, also for corporations and other non-state actors.   

The report outlines ten criteria for transparent and constructive corporate climate responsibility, providing concrete suggestions for businesses and other actors on setting and implementing net-zero targets. These include among other things the areas of disclosing greenhouse gas emissions,  formulating the right kind of targets (terminology, scope, target year) and negative emissions. Additionally it includes insights on how to deal with challenges in reducing green house gas emissions, implementing renewable energy targets, the use of an internal carbon price and support for climate action elsewhere. On an international level, this report can help to concretize steps that companies may take in order to align with the goals of the Paris Agreement. Discussions are taking place on various levels, including the EU and the UN.