Climate Change: acquiring technology and getting suppliers on board are vital to corporate success in carbon-reduction efforts
- Only 12 per cent of organisations are meeting or exceeding their ambitious carbon reduction targets while 68 per cent of them see room for improvement: survey
- More executives in Hong Kong and mainland China cited lack of data, inability to get suppliers to deliver the goals
A lack of funding to acquire digital technology and difficulties in getting suppliers on board are key reasons why companies are struggling to make good progress on their carbon-emission reduction goals, according to an industry consultant.
The result is a dearth of reliable data to measure progress and confidence to make bolder targets and commitments on their climate-change agenda, said Malavika Bambawale, head of Asia-Pacific at Engie Impact, a sustainability and management consultancy owned by Engie SA, a French utility and the world’s biggest independent power producer.
Global warming “is a long term problem,” she said. “It is important for companies to be bold and ambitious. The faster you get up to speed, the lower your cost of capital and the better your sales could be.”
While 62 per cent of the organisations had made commitments or targets on decarbonisation, only 12 per cent said they were meeting or exceeding their ambitious goals, according to a global survey commissioned by the consultancy. Some 68 per cent saw room for improvement while the rest had barely started, it added.
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