“It is concerning that the majority of UK companies have yet to set and deliver on targets in line with the annual emissions reductions needed to align with a 1.5°C pathway,” Dexter Galvin of the CDP, said.
“The fact is there are nowhere near enough companies taking the necessary steps to do this, even though it is good for business, people and planet.” The European Union’s Corporate Sustainability Reporting Directive will require companies to report emissions from 2024 to 2028, depending on the size of the company.
A key to their success “is that they have proactively embedded decarbonisation into their businesses, including through their use of incentives to management to drive action.” More than half provide financial incentives with a further 29 per cent providing non-monetary incentives, the study found.