New Energy World™
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CEOs lengthen net zero timescales to balance commerciality and sustainability
4/12/2024
News
CEOs across key European countries are shifting timescales and investment around net zero goals, as companies continue to grapple with balancing profitability and sustainability in a volatile energy market, new research has found.
A survey of 400 CEOs in charge of companies with turnover above €200mn from the UK, Germany, France and Italy, has revealed that almost all respondents (95%) have changed their net zero timescales in light of energy supply and pricing issues. As other pressures face leaders, only 12% of respondents claimed that speed of decarbonisation was their top priority, with most claiming reducing energy costs and delivering commercial advantage were among the top priorities.
The research – presented in Aggreko’s Rebalancing the Energy Transition report – has also revealed that intention to invest in energy transitions is still present, with 80% expecting to increase investment in the next 12 months. However, as balancing cost and commercial viability with environmental, social and governance (ESG) goals continues to pose a challenge, most investment increases will only be marginal.
Robert Wells, Aggreko’s Europe President, comments: ‘It is not surprising that our research has uncovered leaders across Europe are looking for change when it comes to their energy supply chain. In a tough economic landscape, grid instability and connection delays, price uncertainty and looming ESG targets are impacting many businesses’ energy transitions.’
