Defining and developing a corporate strategy to achieve climate neutrality is no longer an option for companies. Aware of the urgent need to address this challenge, organizations are already implementing concrete measures and actions around decarbonization, although most of them aim for the long term. Thus, 70% of managers believe that their company will reach zero emissions in 2050, while only 17% trust that it will be achieved by 2030.
These answers come from the latest survey on Sustainability of 'Business Pulse', the panel of companies promoted by KPMG and La Vanguardia, which represents more than 25% of GDP in Catalonia. Within the framework of these transition plans, the majority of companies (91%) believe that by 2050 climate neutrality will be a reality, and they already have a specific strategy or plan to achieve this goal. Although 39% acknowledge that their strategy may present elements for improvement.
The conviction and commitment to the planet represents the main reason that has led corporations to define a transition plan in terms of decarbonization. This is stated by 87% of the directors of companies (based or operating) in Catalonia. Regarding the content of these strategies, 91% of organizations will prioritize actions related to changes in operations, followed by investments for the elimination of emissions (87%), in addition to adopting measures related to the inclusion of sustainability in the culture. of the company (83%).
Regarding the leadership of these decarbonization plans, less than half of the companies surveyed (45%) have the responsibility of supervising and controlling the company's performance in terms of decarbonization assigned to the Board of Directors. Only 22% state that they have a specific committee on the Board on this matter, while 18% are in the process of assigning this responsibility to the Board.
A key aspect for achieving decarbonization is the measurement of emissions, an aspect that serves as a starting point for developing plans and informing the different interest groups of the company's contribution to the fight against climate change. When questioned in this regard, 74% of the managers on the panel carry out a detailed measurement of the different scopes of the carbon footprint (including those of scope 3). For their part, 22% of those surveyed opt for a measurement of scope 1 and 2 emissions, and only 4% acknowledge that they are not carrying out any measurement in this regard.
Regarding the efforts and concrete actions to achieve climate neutrality in 2050, more than half of the managers (52%) plan to promote the reduction of emissions throughout the value chain in the next 12 months. In turn, 43% of companies plan to establish specific criteria for suppliers or partners and define a specific budget for the transition towards decarbonization.
Despite the uncertainty and volatility that characterizes the current economic environment, the majority of organizations (72%) do not currently plan to rethink their strategy around decarbonization, compared to 28% who say they have rethought their strategy or plan to do so in the next 12 months.
Among the factors of the current economic scenario that have been able to motivate this reconsideration, two out of three respondents (67%) highlight regulatory uncertainty, followed by the difficulty in finding talent and specialized profiles, as well as the impact of the crisis on the supply chain and the increase in energy prices (50%, in each case).
'Business Pulse' gathers the vision of some of the most important companies in Catalonia on the big issues that determine the economic and business reality of our time. Based on various periodic surveys, the trends, priorities and challenges faced by leading companies (based or operating in Catalonia) are identified in a context as challenging and uncertain as the current one.
