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Study Shows Majority Of UK’s Biggest Firms Lack Net Zero Strategies

Oct 8, 2020

A recent study by environmental consultancy EcoAct has showed that a majority of the UK’s biggest firms lack net zero strategies.

The study found that fewer than one-in-six of the biggest companies on the London Stock Exchange have a realistic strategy to achieve net zero emissions by 2050, despite 45 per cent having committed to the target.

For the second year running, consumer goods giant Unilever secured the top spot in the rankings, having featured in the top 20 since 2013, according to EcoAct, while BT sits in second place, remaining in the top three for the eight consecutive year.

Companies operating in the banking, utilities and real estate sectors also tended to fair particularly well in the rankings. Among those ranked in the top 20 for environmental disclosure were financial giants Barclays, NatWest Group, Lloyds, and HSBC; energy firms SSE, United Utilities, and Centrica; and developers Landsec, British Land and Barrett Developments.

EcoAct however warned that best practice on climate and environmental sustainability reporting was not being shared effectively between corporates, pointing out that 65 per cent of FTSE 100 businesses do not have science-based targets in place for reducing emissions, yet those with science-aligned climate goals were more likely to be on track with their ambitions.

Learn more and find out how to join the Race to Zero here.

 

 

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