More than one-third of energy and chemicals companies in the UK are not confident they will hit their climate targets this year.
That’s according to a new poll by the Independent Commodity Intelligence Services, which shows nearly 71% of the UK executives say their organisations have publicly stated targets regarding climate impact reduction.
Based on more than 1,000 executives’ responses, the survey also found that the belief that “it is morally correct” is the largest incentive for meeting climate change targets among UK companies.
Dean Curtis, President and Chief Executive Officer at ICIS, said: “As a result of the current climate crisis, there is mounting pressure on companies from consumers and regulators to rapidly reduce their carbon footprint.
“This is creating a critical challenge for those in the chemical and energy market to reassess their business models from how and where they source materials to their day-to-day operations.”