Survey finds business expects low carbon future
A survey of businesses with science-based emissions reduction goals has found that 19% of executives expect all their companies’ products and services to be low carbon by 2028.
The YouGov survey of corporations in the science-based targets initiative also found that the environment would be seen as the second biggest factor influencing business growth in the next five years - behind only technological change - and that there would be savings for nearly a third of companies from ambitious emissions reduction goals.
In addition to the 19% of executives who expected their company to go entirely low carbon, a further 52% expected at least half of their products and services to be low carbon by 2028.
The survey drew 185 responses from companies in 37 countries.
Businesses saw benefits in being known to have set carbon reduction targets with 79% of respondents saying brand reputation was one of the greatest benefits, while 63% felt the commitment helps to drive innovation.
The Science Based Targets initiative (SBTi) is a collaboration between CDP - one of the initiative partners - the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature.
In excess of 420 corporations have already set, or committed to set, such targets.
Dexter Galvin, CDP’s global director of corporations & supply chains, said: “Companies are increasingly aware of the risks of dangerous climate change and the business opportunities in taking action.
“It’s clear that many corporates are taking a lead by adopting science-based targets to create low carbon products and services and reduce their emissions.”
Image credit: iStock
Mark Smulian is a freelance journalist