Worse, we’re now seeing a retreat. In the past year companies around the world have been canceling their climate commitments, some only a few years old. BP Plc is pulling back on renewables and drilling more oil. Coca-Cola Co. and PepsiCo Inc. abandoned or weakened promises they made in 2021 to slash their use of new plastics. Big banks such as Wells Fargo & Co. and HSBC Holdings Plc walked back various plans to reduce their emissions. Walmart Inc. admits it’s behind on its climate targets, while FedEx Corp. says it will likely miss its goal to go electric on half of its delivery truck purchases by 2025. This corporate retrenchment has been particularly acute in the US, where the Trump administration has been busy rolling back climate regulations and withdrawing from international treaties such as the Paris Agreement.