Some 75 of the world's largest 112 fossil fuel companies have now committed to reaching net-zero - the point at which greenhouse gas emissions are negated by deep cuts in output elsewhere and methods to absorb atmospheric carbon dioxide.
But most targets do not fully cover or lack transparency on Scope 3 emissions — which include the use of a company's products, the biggest source of emissions for fossil fuel companies — or don't include short-term reduction plans, the report added.
The report also found that none of the fossil fuel companies were making the needed commitments to move away from fossil fuel extraction or production.
As it stands, some 4,000 countries, states, regions, cities and companies globally have now committed to net-zero.
A study published last week in the journal Science found that about 90% of countries' net-zero targets were unlikely to be achieved.
Persons:
Thomas Hale, Daisy Streatfield, Gloria Dickie, Simon Jessop, Jan Harvey
Organizations:
Climate Intelligence Unit, University of Oxford, Science, Thomson
Locations:
Britain, London