Less than half of companies expect to meet decarbonisation targets by 2030: Siemens
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Vivienne Tay
ONLY 44 per cent of global organisations believe they will hit their 2030 decarbonisation targets, a new study released by technology company Siemens on Thursday (Sep 14) has found.
About 40 per cent of those surveyed expect their organisations to meet their decarbonisation targets this year, and around 47 per cent of executives said their company has detailed plans in place to show how they reach such targets.
Regarding measuring progress, only 37 per cent of executives surveyed said their organisation uses verifiable and standardised methods and criteria.
“The report indicates that there could be a correlation between confidence in organisational growth prospects and confidence in decarbonisation targets,” Siemens noted.
Businesses are also looking at their buildings when considering how to decarbonise. Out of those surveyed, only 37 per cent regarded their organisation as “mature or advanced” in improving energy efficiency. Around 30 per cent believe this is the case when it comes to electrification or the decarbonisation of heating and cooling.
Overall, less than 10 per cent of global respondents assessed their country or region as ahead of the game regarding major energy goals. Respondents signalled a need for regulators to build new frameworks to support decarbonisation.
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Although half of respondents said infrastructure transition is accelerating in the region, most executives in India, Mexico, Brazil and South Africa believe their decarbonisation strategy is neither consistent nor effective.
“One reason for this is that developing countries and emerging markets are often facing other pressing priorities, such as poverty reduction and economic development, which can make it difficult to invest in clean energy,” Siemens said.
Singapore was among the more developed countries positive about its country’s or region’s current progress in the infrastructure transition. Respondents were also the most agreeable to using subsidies or taxes to make electric vehicles cheaper than those which use petrol or diesel.
Siemens surveyed 1,400 executives across 22 countries for the survey. More than half of respondents came from the private sector, with 19 per cent from the energy industry and 16 per cent from the transport sector. Around 7 per cent of respondents came from Singapore.
The study measured the present state of infrastructure transition, including developments within systems, services, buildings and structures needed for industries, cities and countries to function effectively.
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