Only 16% of the world's largest companies are on track to achieve net zero emissions by 2050, according to Accenture's recent report "Destination Net Zero." While 52% of these companies have successfully reduced both their carbon emissions and intensity since the Paris Agreement in 2016, 45% have seen their emissions rise.
Analyzing over 2,000 global firms, the report indicates that 55% have lowered their operational emissions, with 30% implementing at least 15 decarbonization strategies. Notably, European companies lead the charge, with 64% establishing comprehensive emissions targets.
The report also highlights a significant underutilization of artificial intelligence (AI) in climate action, with only 14% of firms leveraging AI for emissions reduction. Without advancements, emissions linked to AI could surge significantly by 2030. However, optimism remains, with many businesses seeing AI as a key player in future decarbonization efforts.
This analysis emphasizes the need for collaborative strategies and innovative solutions to reach net-zero targets effectively.
Estimated reading time: 4 minutes.