The vast majority of the world’s largest companies have done little to nothing in the past five years to reduce the emissions they contribute to the environment. global warmingto fight climate change.

A leading provider of sustainability data found that the efforts of the world’s top 500 listed companies, in line with Treaty of Paris, make up 22%. This is an increase of just 4% over 2018 to limit global warming to 1.5 degrees Celsius above pre-industrial levels.

Climate scientists see a 1.5-degree rise in average temperatures as a key tipping point, after which the likelihood of extreme floods, droughts, wildfires and food shortages could skyrocket.

“Our data is sending a clear message: we need to do more, fast,” ESG Book CEO Daniel Klier said, according to CNN.

The report is the latest in a string of evidence that the world is far from achieving its climate goals. At the same time, big polluters like Shell and BP are returning their focus to fossil fuels after a year of big profits, helped by rising oil and gas prices.

The top 500 signatories to the Paris Agreement account for 22% of efforts to reduce pollution.

In its analysis, ESG Book provided companies with “temperature scores” based on their emissions data and factors such as emission reduction targets, to determine companies’ contribution to global climate goals.

He calculated direct emissions from operations as well as indirect emissions from the use of the companies’ products. This is especially important for oil and gas companies, as most of their emissions come from burning their products, such as gasoline and jet fuel.

In the UK, India and the EU, the number of companies with emission reduction targets in line with the Paris Treaty has declined since 2018. In the US, 20% of companies have signed up to the Paris Treaty, up from 11% in 2018. In China, this figure is up to 12% compared to just up to 3% five years ago. Recall that in the Treaty, the European Council set a mandatory goal to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels.

But there are also positive developments. In accordance with International Energy Agency (IEA), investment in solar energy for the first time this year will exceed investment in oil production. “For every dollar invested in fossil fuels, about $1.7 is now going into clean energy. Five years ago, the ratio was one to one,” said IEA Executive Director Fatih Birol in a report last month.

However, slightly more than 1 trillion. US dollars are expected to go into oil, gas and coal this year, well over what is needed to meet the zero emissions goal by 2050, the IEA said.