CDP has launched an open-source digital tracker covering all climate-reporting companies. Results suggest weak transition planning globally, with only 60% of firms having emissions targets, and 40% of them having none. Less than 1% of the companies have net-zero transition plans regarded as credible. Among the FTSE100, just four out of 91 disclose transition plans with all key facets; global average transition plan production is 1%. CDP calls the gap between ambition and delivery worrying and has made their tracker publicly accessible.
A survey by Hitachi Vantara found that while 82% of businesses globally have net-zero carbon goals in place, many lack strategies and implementation plans to achieve them. Budget, regulation, and data were cited as the biggest barriers, with some businesses viewing net-zero as a long-term issue. Smaller businesses face even greater challenges, with BSI's net-zero barometer finding that half of SMEs do not have a net-zero plan or policy.
Wholesale gas prices will remain at least twice as high as before until 2030, according to a study by Energy and Climate Intelligence Unit (ECIU). The think-tank called for a stronger focus on energy efficiency in UK housing and faster rollout of heat pumps. The government recently set a goal of 600,000 annual heat pump installations by 2028, but climate advisers say the UK is off track. ECIU compared a business-as-usual scenario to one in which the government meets heat pump installation targets.
One-third of sustainability professionals in the UK believe that a lack of board-level climate expertise is a significant barrier to reaching net-zero targets, according to new EY research.
edie's free-to-download report provides context, challenges, opportunities, and steps for companies to become net-zero, detailing key considerations and strategies.