Businesses struggling with net-zero plans
Source: Middle East Insurance Review | May 2024
Large businesses around the world are struggling with their net zero plans, with barriers including fears of unfair scrutiny of climate efforts and how to address supply chains emissions, according to a survey by the Carbon Trust.
The 30-page Breaking business barriers to Net Zero report published in February 2024 by Carbon Trust’s Net Zero Intelligence Unit shares the findings of a survey of more than 400 sustainability leaders.
The report reveals that almost a third of sustainability experts in large businesses are struggling to make an internal business case for net zero. The report highlights a lack of engagement from senior leaders regarding concerns that climate change work will be unfairly scrutinised and about issues tackling supply chain emissions.
The respondents included leaders from large businesses in the UK, Germany, Sweden, the Netherlands and Mexico. The report identifies the issues slowing down or stopping their sustainability efforts.
The research reveals that less than 50% of sustainability decision makers feel they have the organisational structure and leadership buy-in to deliver a transition plan and make net zero business-as-usual, with other business areas and growth plans taking priority.
Concerns about external scrutiny of net zero progress was cited as another major barrier, with 26% of respondents saying companies are avoiding taking climate action due to the fear of being called out for getting their climate action work wrong, which the report calls ‘greenstalling’. M