The global economic slowdown is starting to weigh on corporate efforts to achieve climate goals.
Some 40% of heavy industrial companies worldwide say they’re unable to invest further in decarbonization due to the current environment, according to new research by consultant Accenture Plc, which surveyed 1,000 executives. Almost two-thirds indicated their main efforts to cut carbon emissions won’t be economically attractive before the end of the decade.
“If heavy industry fails to decarbonize, all others fail,’’ the researcher said.
The findings come as some governments have pulled back from plans to support renewable energy and low-carbon products amid high inflation and concerns about cost and energy security. Accenture’s research suggests that companies are also moving more slowly, at a time when severe weather events across the globe highlight the damaging effects of climate change.
In a separate report released Thursday, the consultant found that just 18% of companies are on track to meet net zero goals by mid-century. At the same time, 37% have pledged to reach net zero — up from 34% last year — it said in an analysis of 2,000 of the world’s largest firms.
“It’s promising to see an increase in public commitments to net zero targets again this year, but the adoption of key decarbonization measures is not uniform, with some companies still unable to master the basics,” Jean-Marc Ollagnier, Accenture’s chief executive officer for Europe, Middle East and Africa, said in a statement.
Europe fared better than other areas of the world, with 61% of companies surveyed having net zero targets, compared to 28% in North America and 30% globally. However, just 24% of European companies were on track to actually reach net zero by 2050.
Locked out of their offices and told to stay home, employees at the Consumer Financial Protection Bureau have asked the courts to intervene as Elon Musk and Republican leaders move to shut down the agency that was established to protect people from predatory lending and financial scams.
Fintech platform interVal has also introduced a new feature to help advisors support entrepreneurial business owner clients better.
Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.
President Jeff Dobyns unpacks the strategic power of mentorship, what makes an "ideal team player," and how the firm's 89 percent success rate has paid off for veteran advisors.
The Fed chair is in for some "hyper-charged" meetings, with legislators likely to raise questions on tariff threats and apparent steps to comply with anti-DEI orders.
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.
Blue Vault features expert strategies to harness for maximum client advantage.