87% of European companies expect to achieve zero emissions by 2030 or earlier

New research conducted by NTT DATA and PAC found 88% of European business leaders expect their internal IT function to be a driving force in delivering short-term gains in their decarbonisation strategies. While over three quarters of businesses have either implemented or are currently rolling out carbon offsetting initiatives, the study shows a clear understanding of current emissions levels is lacking, with only 6% claiming to have a “single pane of glass view” of their organisation’s carbon footprint.

Executives at 200 large European businesses across a variety of sectors were interviewed to explore how organisations are approaching decarbonisation. The findings show that businesses understand the urgent need to cut emissions, with 94% of business leaders viewing decarbonisation as critical for the future survival of their business. 87% of European businesses expect to achieve zero emissions by 2030 or earlier. Executives believe IT organisation will play a key role in reaching net-zero goals, particularly in the telecoms (95%) and financial services (93%) sectors.

One key obstacle facing businesses, as they seek to address decarbonisation, is the difficulty in tracking, monitoring, and reporting on emissions data. Most companies currently either use a mix of manual effort and multiple tracking tools (46%) or a patchwork of technology tools (34%). Tracking emissions is largely a manual effort for more than a quarter of financial services companies (27%) and for one fifth of manufacturers (20%).

Nick Mayes, Principal Analyst at PAC, a teknowlogy Group company, said: “The study shows that the effective harvesting and management of emissions data is already seen as a critical success factor to delivering on net-zero. But only a very small proportion claim to have the 360-view across their organisation and beyond, so this has to be a primary focus area for the next phase of the net-zero journey.”

Leticia Lastra, UK Sustainability Manager at NTT DATA UK, said: “Climate change stands to disrupt every industry across the global economy and urgent action is needed to limit its impact. IT services and technology will be central to the next phase of the net-zero journey, enabling better understanding of existing emissions as well as providing solutions to manage resources and to cut the emissions being produced. NTT DATA is committed to helping its clients and partners navigate this transition process and is working to accelerate the development of new services and solutions to reduce carbon emissions. Implementing the right technologies as part of a comprehensive decarbonisation plan will be a vital way for organisations to make progress towards their net-zero targets in the next two to three years.”

To read the full report, go to: https://uk.nttdata.com/insights/reports/europe-digital-journey-to-net-zero

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