HomeCarbon NewsOnly 5% of Europe’s Big Firms on Track to Reach Net-Zero

Only 5% of Europe’s Big Firms on Track to Reach Net-Zero

Only 1 in 20 of Europe’s largest companies will meet their Net-zero promises – unless they make some major changes.

If these top companies do not increase emissions cuts over the next decade, Europe can kiss net-zero emissions goals goodbye.

Not all of the EU is behind.

Most U.K companies are on track, by more than one-third. However, just over a quarter in Germany and under a fifth in France are where they need to be.

The report completed by Accenture offers some recommendations to help companies meet deadlines.

Peter Lacy, Accenture’s sustainability global lead, is concerned. He called for robust action to prevent the globe from warming more than 1.5 degrees Celsius.

He also asked for “Businesses and governments across all parts of the world [need] to focus their efforts on concrete action that follows robust targets to meet the challenge our world faces.”

CEO of Accenture in Europe agrees, saying that “Net-zero will be feasible only with swift, decisive action in this decade. It is possible, but only if European businesses act now. Progress will only come from a radical rethink of business models, including technological investments, creating greener supply chains, and treating carbon reduction plans with the same rigor as financial budgets.”

With the COP26 conference just weeks away, this report couldn’t be timelier.

Companies across the globe are scrambling to meet Paris Agreement regulations – which is a significant factor behind the carbon credit boom. Since purchasing credits can offset emissions, improve the environment, and drive economic growth, some consider carbon credits one of the best tools we have – alongside technological innovation, of course.

Hopefully, this report from Accenture will help push EU countries and others in the right direction.

Most Popular
LATEST CARBON NEWS

Twelve Transforms Carbon into Sunglasses, Car Parts, and Fuel

As firms around the world are tackling climate change, Twelve is offering a solution through its carbon transformation tech which turns CO2 into products...

Crypto Carbon Credits Exchange 1GCX Closes $2B Record Deal

Crypto carbon credits exchange 1GCX partnered with T3 Trading, raising $2 billion in assets under management (AUM) and setting up a $100 million liquidity...

Ethereum’s Stealth Move to Wipe Out Its Carbon Footprint

Ethereum won the spotlight with the Merge, which cut the crypto’s energy use and carbon footprint more than expected by 99.99%. The second-largest cryptocurrency -...

Iron and Steel Industry Will Buy $250B Carbon Credits for Net Zero

Bringing the iron and steel industry to net zero by 2050 requires $1.4 trillion of investment, $250 billion of which is for carbon credits,...
CARBON INVESTOR EDUCATION

ESG Investing with Carbon Credits – What Investors Need To Know

Reducing carbon emissions is evident as firms focus on ESG investing and governments account for climate impact through carbon credits.

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...