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13 January 2022

Only 29% of UK businesses have committed to net zero

Almost half of the companies surveyed for the Veolia report feel overwhelmed by the steps they need to take to reach carbon neutrality.

By Energy Monitor Staff

Despite growing environmental concerns, less than a third of UK businesses have a strategy for reaching carbon neutrality, according to research commissioned by resource management giant Veolia.

A YouGov survey of more than 1,000 senior business decision makers found that only 29% of UK businesses have a strategy for reaching carbon net zero, with 42% of businesses feeling overwhelmed by the steps they need to take to reach that goal.

A view over the City of London. (Photo by Ingus Kruklitis via Shutterstock)

The numbers improve higher up the value chain, with more than half (52%) of larger companies (250+ employees) having a net-zero strategy and 61% of these believing their reputation would be negatively affected if they failed to commit to this.

Despite low overall numbers committing to net zero, 80% of those who did were very confident of achieving their goals and 56% have set a budget for their carbon strategy.

In other findings, investment (40%) and government legislation (39%) were cited as the top types of support businesses with a net-zero strategy say they need. Just 12% say they do not need any external support.

Globally, 111 of the world’s 167 biggest-emitting companies have set a net-zero greenhouse gas emissions reduction target. Together, these should reduce CO2-equivalent emissions by 3.7 billion tonnes a year by 2030.

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