A lack of regulation around greenhouse gas (GHG) emissions has led Australian companies to employ arbitrary targets for measuring GHG emissions reduction, which are not translating to the level of emissions reduction required to meet global targets. Despite the well accepted urgency of climate change action, there is a gap in literature with no studies discussing the effectiveness of the various targets for measuring GHG emissions to meet global emission reduction goal. Using correlation and ordinary least squares (OLS) regression analysis, our study of Australian Stock Exchange listed companies shows that the targets suggested by Task Force on Climate‐related Financial Disclosure (TCFD) are the most closely associated with the required emissions reduction. The findings from this study advocate that organisations adopt TCFD recommendations for achieving optimal reduction of greenhouse gas emissions to meet the global targets. Our findings should inform policymakers and practice to align targets to the TCFD recommendations to meet the global emissions reduction commitments and mitigate the most severe impacts of climate change.

中文翻译：

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将气候步行与气候谈话脱钩：来自澳大利亚的证据


由于缺乏对温室气体（GHG）排放的监管，导致澳大利亚公司采用武断的目标来衡量温室气体减排量，而这并不能转化为满足全球目标所需的减排水平。尽管气候变化行动的紧迫性已被广泛接受，但文献中仍存在空白，没有研究讨论衡量温室气体排放的各种目标的有效性，以实现全球减排目标。使用相关性和普通最小二乘法（OLS）回归分析，我们对澳大利亚证券交易所上市公司的研究表明，气候相关财务披露工作组（TCFD）建议的目标与所需的减排量关系最为密切。这项研究的结果主张各组织采用 TCFD 建议，以实现温室气体排放的最佳减少，从而实现全球目标。我们的研究结果应该为政策制定者和实践提供信息，使目标与 TCFD 建议保持一致，以履行全球减排承诺并减轻气候变化最严重的影响。