98% Of Global Companies Making Progress Toward Stated Decarbonization Targets

ENGIE Impact’s 2023 Net Zero Report assesses current corporate response to climate change, identifies 12 major roadblocks to decarbonization and six key actions to accelerate progress to Net Zero

ENGIE Impact, a leader in sustainability transformation solutions, announced the release of its 2023 Net Zero Report. Titled “Six Actions to Accelerate Decarbonization,” the third annual report delves into corporate transformation readiness, challenges to implementation and the major decarbonization roadblocks companies must overcome to reach Net Zero. Along with a summary of progress achieved, the report provides insights and strategies to accelerate decarbonization and increase return on investments by implementing an actionable roadmap.

ENGIE Impact’s study involved more than 500 senior executives from the world’s largest companies, each employing more than 10,000 people. Nearly two-thirds (62%) of those surveyed this year said they have now made some form of public commitment or target to address carbon emissions reduction within their organization. While this rising percentage represents progress, only 12% rate their sustainability efforts as “extremely successful,” and 75% say they have already achieved the “quick wins” in their decarbonization plan. Success will require more investment, strong leadership and sustained effort and commitment to reach decarbonization goals in time.

“Our research reveals signs of progress from corporations around the world, but the process must accelerate, and we’ve learned there are challenges along the way that many leaders don’t anticipate at the beginning of this journey,” said Mathias Lelievre, CEO ENGIE Impact. “Our report identifies the most common barriers to overcome and strategic actions to clear those roadblocks and accelerate decarbonization.”

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As a result of the collective experience of the 505 organizational leaders surveyed – and the combined expertise of ENGIE Impact’s global cadre of decarbonization experts who support more than 1,000 of the world’s largest companies across multiple sectors, industries and regions – the report summarizes six key actions companies and executives can implement in order to understand the gaps to Net Zero targets, overcome barriers to implementation and accelerate decarbonization within their organization.

The six actions include:

• Maintain long-term focus and belief
• Establish governance and accountability
• Close the implementation expectation gap
• Increase executive accountability
• Activate the right decarbonization enablers
• Collaborate with the supply chains to address Scope 3 emissions

ENGIE Impact helps organizations bridge the gap between setting aspirational sustainability targets and taking real action to achieve decarbonization goals, and supports some of the world’s largest companies on their net zero journeys, among them Procter & Gamble, Netflix, Faurecia and 25% of global Fortune 500 brands. Over the last six years, ENGIE Impact has helped its clients collectively save nearly $1 billion through reduced energy usage. At the same time, they reduced GHG emissions equivalent to that of nearly 900,000 passenger vehicles operated for a year.

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