Accelerating global companies toward net zero by 2050

Improving sustainability and achieving net zero has picked up great momentum over the past years following on from the 2021 COP26 conference in Glasgow. However, findings indicate that 93 percent of Global 2000 (G2000) companies with net zero commitments will miss their targets. In this report by Criticaleye partner Accenture, the importance of setting net zero targets is discussed.

Despite the halt in momentum due to macroeconomic and geopolitical factors, research indicates that organisations with clear net zero targets are still cutting more emissions than those without. Thus, a collective effort from more companies to set net zero targets will support the global drive to reduce carbon emissions by 2050.
 
Key takeaways include:

• More than a third of the world’s largest companies now have a net zero target in place – up seven percentage points since December 2021.
• On current trends, only eight percent of companies will reach net zero by 2050.
• In June 2022, 84 percent of companies said that they plan to increase investments in sustainability initiatives by the end of the year – a 4 percent rise on the same poll last year, when 80 percent of executives said they would increase sustainability investments by the end of 2021.