Based on a survey of 1,000 senior finance professionals around the world, this research reveals that almost half of respondents (46%) have yet to produce a plan for reducing their carbon emissions.
Alarmingly, nearly 70% of those respondents without an emissions plan say they currently have no intention of developing one. This is a significant problem given that successful transition planning to a low carbon business starts with the development of a robust emissions plan.
The report also says that involving CFOs and finance teams in the emissions reduction planning is likely to accelerate progress. They should embrace this because, although they may not always be the ‘owner’ of the sustainability agenda, CFOs can embed climate transition priorities into business planning and resource allocation, and enable high-quality sustainability reporting internally and externally.
The research recommends that finance teams need to develop the right skills and expertise in this area. For CFOs themselves, balancing the short-term operational priorities of the finance team whilst simultaneously upskilling and equipping the team to support the wider organisation’s net zero initiatives longer term must now be a critical imperative.
