Global companies commit to boost climate investments.
Tuesday 24 September 2024
New groundbreaking research has unveiled that major global corporations are gearing up to pour more resources into achieving net zero emissions.
The latest study conducted by esteemed research firm East & Partners in collaboration with the renowned communications consultancy Impact & Influence has revealed a significant surge in the commitment of the world’s largest companies towards investing in initiatives aimed at achieving net zero emissions. The research highlighted that an impressive 61.7 per cent of these corporate giants are planning to intensify their capital commitment towards achieving this crucial goal, showing a notable increase from the preceding year’s figure of 58 per cent.
On average, these companies are gearing up to allocate a staggering 26.8 per cent more capital towards slashing their carbon emissions, which showcases a substantial increase from the 22.4 per cent allocation reported in August 2023.
The study further delved into country-specific insights, revealing that businesses in the United Kingdom are poised to lead the charge in boosting their environmental spending, with an impressive 40.8 per cent increase projected. Germany closely follows with a substantial 35.4 per cent uptick, while Australian companies are also on track to ramp up their investment by 34.9 per cent.
However, on the flip side, companies in Kenya are only anticipating a modest 9.6 per cent uptick in their environmental investments. India and Brazil are not far behind with projected investment increases of 15.5 per cent and 16.9 per cent respectively.
The Principal Analyst at East & Partners, Paul Dowling, shared his insights on the research findings by stating, ‘Momentum is clearly escalating as the world’s major companies gear up to amplify their investments in the transition towards achieving net zero. The burgeoning demand for climate capital presents a significant opportunity for financial institutions, with even markets at the lower end of the investment spectrum showing a positive inclination to augment their spending year-on-year.’
Dowling further added, ‘Various factors such as mounting public pressure, heightened shareholder expectations, and evolving regulatory frameworks are driving these corporations to steadfastly uphold their commitment towards mitigating climate risks.’
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