Emissions Omissions
the report found that fewer are on track to meet their current goals, with only 14% reporting that they have realized more than 75% of their emissions reduction ambitions over the past 5 years, down from 17% last year. The survey examined the key obstacles to the achievement of companies' emissions reduction goals, finding that macroeconomic conditions was most often cited as an "extremely significant" or "major" challenge, by 42% of executives, followed by capital constraints by 39%, and immature abatement technology by 35%.
The lack of progress on emissions reduction goals comes despite recognition of significant business benefits of decarbonization. More than half of respondents cited reputational value as a benefit of decarbonization, with other benefits reported including lower costs (50%), higher valuations (44%), higher revenues (41%) and the ability to attract the best talent (38%). 40% of respondents estimated annual financial benefits for meeting emissions reduction targets of at least $100 million.
