A survey has found that 77% of businesses believe sustainability will deliver a competitive edge.
A new report also found that 69% of businesses agree governments must achieve net zero to remain economically competitive.
“It’s clear that businesses recognise the strategic importance of sustainable transformation. With less than 80 months until 2030, the challenge for businesses now is to fulfil that strategic opportunity at pace,” said Schneider Electric pacific zone President, Gareth O’Reilly.
Despite the support for net zero, business’ decarbonisation efforts were found to be lacklustre, according to the study.
Only 52% of respondents have discussed or included a decarbonisation strategy within their business, according to the study.
The survey also found that 42% of businesses struggle with risks and costs incurred from energy supply and resource problems.
Although most companies pledged some commitment to reducing their Scope 1 and Scope 2 emissions, few gave consideration on Scope 3 emissions. 42% of companies expected to reach zero Scope 1 emissions, direct emissions from owned or controlled sources, while, 37% aimed to reach zero Scope 2 emissions.
Only 24% of businesses wanted to reach zero Scope 3 emissions, which comprises all indirect emissions in the value chain, like those associated with procuring and using products and services. Zero Scope 3 emissions is the most difficult level to attain.
Businesses turn to tech to decarbonise
The study found that 78% of companies recognise that data is vital in the race towards sustainability.
Why do business executives believe data is crucial to their sustainability efforts?
It’s easy to see why. Data backs environmental claims, improves stakeholder confidence and provides strategies for the way forward.
How can businesses access this data?
At ClearVUE.Business, we use our industry-leading technology ClearVUE.Zero to provide real-time data on your emissions. We also create strategies that reduce your emissions without deterring your operations.