Despite Climate Concerns, Just 14% of Companies Reduced Carbon Emissions in Line with Ambitions Over the Past Five Years
CO2 AI and BCG’s Third Annual Carbon Emissions Survey Indicates Companies Are Falling Short on Reduction Ambitions, Citing a Wide Array of ChallengesCompanies Have Significantly Improved Partial Measurement and Reporting of Scope 3 Emissions—Up 19 Percentage Points Since 2021, From 34% to 53%Asia Pacific Respondents Improved Comprehensive Emissions Reporting by 7 Percentage Points (PP) Since 2021; South American and North American Respondents Improved Scopes 1 and 2 Emissions Reporting By 9 PP Points and 5 PP, RespectivelyWhen Asked to Quantify Decarbonization, 40% of Survey Respondents Estimate an Annual Benefit of at Least $100 Million to Their BusinessWithin the Next Three Years; 30% of Companies Plan to Expand the Deployment of AI-Powered Tools to Improve Accuracy, Efficiency, and Decision-Making in Emissions ManagementBOSTON—As climate-related disasters intensify in frequency and severity, so does the economic impact on communities and businesses. Despite a responsibility to mitigate the crisis with emissions reductions in their operations and supply chains, companies have not made much progress in comprehensively measuring and reducing their emissions over the past year, according to a new study by CO2 AI and Boston Consulting Group (BCG) being released ahead of COP28, which begins at the end of the month.