Leaders are going green – but not publicising progress
Among sustainability-minded organisations, the trajectory for net zero is encouraging: within our sample of 1,200 corporate leaders across 12 countries, setting a net zero goal, science-based reductions milestones (SBTs), and a clear target date has become standard practice across all industries.
Nearly two-thirds of organisations are committing to rapid action by 2030 at the latest, which indicates that organisations are coming to terms with the need for urgent decarbonisation and setting ambitious targets with this in mind.
At the same time, 13% of surveyed organisations have aggressive plans to meet net zero targets by or before 2024, which raises eyebrows and begs the question – do they fully appreciate the magnitude of reducing emissions across all of their direct and indirect operations (scope 1, 2, 3)?
Despite businesses increasingly backing up their targets with science-based emissions reductions milestones, nearly a quarter (23%) have decided not to publicise their milestones beyond what is mandated. This is a concerning trend, as less public-facing communication makes targets harder to scrutinise and could lead to missed opportunities for sectors to work together to decarbonise.