While more than 34% of the world’s largest companies are now committed to net zero goals, 93% will fail to meet their targets, if they don’t at least double the rate of emissions reduction by 2030, according to a new report from Accenture.
Based on an analysis of commitments to emissions reduction and data from the 2,000 largest public and private companies around the world, Accenture’s report finds that growing energy price inflation and supply insecurity is pushing commitments out of reach, even with clear and publicly visible decarbonization goals in place and a record rise in the number of corporate targets validated by the Science-Based Targets initiative (SBTi) this year alone. Moreover, 84% of companies plan to increase investments in their sustainability initiatives before the end of 2022.
