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A new report says a third of Australian companies with net zero targets are on track to miss them

A new report says a third of Australian companies with net zero targets are on track to miss them

A new report has found one in three large Australian companies with targets to reach net-zero emissions by 2050 are on track to fail.

Commissioned by Microsoft and produced by researchers from the University of London, the report said Australian companies were lagging behind due to a lack of investment in new technologies and difficulty finding people with the right skills to achieve targets.

The report was based on interviews with more than 1,500 leaders and employees from companies with at least 200 staff.

As well as finding 34% of companies with net zero targets were not on track, the report identified 10% of companies it described as “stragglers” because they had either failed to set targets or had made “exceptionally poor progress against their green goals”.

What are companies doing wrong?

As well as finding that many companies were underinvesting in greener technology, the report also found many companies didn’t even know how much they were emitting (only 11% of companies surveyed had ‘mapped’ their emissions).

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