One-third of European corporates aim to reach net-zero by 2050

Data from more than 1,000 listed companies across Europe’s major stock indexes, has fund that almost one-third of these corporates had an aim to reach net-zero by 2050.

The analysis comes from Accenture’s latest report, Reaching Net Zero by 2050, which demonstrates that there is indeed a growing moment to net-zero. On the downside the same report notes that only 5 per cent are on track to meet these targets.

The report also found that only 35 per cent of oil, gas and chemical companies have set net-zero commitments, aiming to achieve these, on average, by 204, and that there is a projected 15-year gap between the energy sector's targets and its progress, meaning net-zero realistically won't be achieved until well after the 2050 benchmark.

On a more positive note, almost half (48 per cent) of utility companies in Europe have committed to net-zero and are on track to achieve this by 2044, with the chance that some may reach their goal ahead of schedule.

CEO of Accenture Europe, Jean-Marc Ollagnier said: "The European business community is more engaged than ever in the Race to Zero, with the number of companies publicly setting goals having grown over the last two years. Solutions differ by sector, and all have different starting points, opportunities and challenges. However, getting there will require all businesses to make reinvention the norm, driven by technological innovation, collaboration, new business models and supportive regulation.”

    Share Story:

Recent Stories