New research from TEAM Energy, a leading multidisciplinary energy consultancy, shows that while many UK organisations are committed to the UK’s net-zero journey, most are not on track to meet the deadlines, with several structural challenges undermining their ability to decarbonise and jeopardising the UK’s net zero agenda.
The survey report, ‘Carbon Countdown: Progress Towards Net Zero,’ shows that almost half of organisations have made a formal commitment to achieve net zero emissions (49%), yet a large majority are currently not on track to hit them. Only 2% say they are extremely confident their organisation will meet their net zero deadline. By far the biggest challenge facing UK organisations is financial constraints (76%), leading many organisations to call for greater levels of support in the form of accessible financial aid (72%). Organisations also say they are lacking the technology, training and guidance (63%), and policy clarity (44%) to make meaningful progress towards their net-zero targets. Over a third of organisations say technological limitations (39%) are a major challenge, while 33% of organisations are lacking the expertise they need.
Graham Paul, Service Delivery Director at TEAM Energy, said: “We consistently see organisations that want to deliver net zero hamstrung by a lack of expertise, tools and funding. And many of those who do have the resources are missing the independent validation needed to decarbonise. Without addressing these challenges, organisations could lose the momentum behind net-zero projects, undermining their potential for progress and success.”
Most organisations (55%) haven’t had their net zero planning independently validated, risking the effectiveness of the plans – and putting their brand reputations at risk in case of failing to meet them. On top of this, just under half of organisations surveyed (48%) rate their organisation’s progress as ‘fair’, and 27% of respondents report they are ‘not so’ or ‘not at all’ confident their organisations will meet their stated deadlines.
Graham Paul said: “Given the size of the transformation required, I’m impressed with the achievements so far of many UK organisations, especially considering net zero has only been a UK target for six years. But now is the time for organisations to work closely with the right partners and take a structured approach to net zero planning: reducing emissions, auditing energy use, setting Science Based Target initiative (SBTi) aligned targets, investing in their workforce, and embedding sustainability in top-level leadership decisions. Without this, they risk putting time and effort into ineffective and unproven strategies. I’m confident that with the right support, this approach can deliver results.”
The report captures insights from organisations from all sectors and of all sizes, building a comprehensive picture of where UK businesses stand and the support required to accelerate their transition. Alongside the insights, it has concrete recommendations and practical steps that organisations can take today – download a copy here.
