Why some companies are ahead in the race to net zero ?
By Charlotte Degot, Diana Dimitrova, Courtney Dong, Hubertus Meinecke, and Ramana Gudipudi
Our third CO2 AI + BCG Carbon Emissions Survey reveals that collaboration, product-level measurement, and digital technology are the keys to progress in emissions reduction.
When asked to quantify, 40% of respondents estimated an annual financial benefit of at least $100 million.
Three-quarters of the companies that are cutting emissions in line with their ambition have joint reduction initiatives with most of their suppliers, and more than half (54%) have similar initiatives with most of their customers.
The most effective product-level measurements use regular supplier input and attribute emissions accurately to each product.
Companies with automated digital solutions for measurement are nearly 2.5 times more likely to measure their emissions comprehensively.
The climate crisis presents an urgent call to action. As climate-related disasters intensify in frequency and severity, so does the economic impact on communities and businesses. Reported economic losses per climate event in the decade from 2013 through 2022 were 33% higher than in the prior ten years.
Our CO2 AI + BCG Carbon Emissions Survey 2023 continues the work that we began in 2021 and continued in 2022 to investigate the progress that businesses around the world have made on emissions measurement and reduction.
BCG and CO2 AI surveyed 1,850 executives responsible for emissions measurement, reporting, and reduction in their organizations across 18 major industries and 23 countries. Each organization surveyed had at least 1,000 employees and annual revenues ranging from $100 million to more than $10 billion.