'We aren't where we need to be' on climate change, warns BCG global chair Rich Lesser

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Good morning.

With COP28 three weeks away, Fortune assembled a small group of CEOs yesterday, in partnership with BCG, to explore how the private sector can accelerate efforts to address climate change. A few excerpts:

“The bottom line is, whatever measures of progress you look at, we aren’t where we need to be…Only 20% of the top 1,000 companies have a target to get to 1.5 degree centigrade. If you say, well, any net zero target will count, then you get to 60% of companies. But you still have 40% of companies with no net zero target.”