The slow progress is notable, since this year’s edition reinforces the fact that the better a company measures its emissions, the more effectively it can reduce them—64% of respondents who measure the full scope of their emissions and 45% who partially measure them noted a significant reduction in those emissions. In terms of monetary value, more than 70% of respondents foresee at least $1 million in annual benefits from emissions reduction, with 37% calculating benefits as high as $100 million or more. Businesses report many additional benefits as well, with 54% noting an improved reputation, and 37% calling out the ability to attract top talent as pluses.

BCG surveyed more than 1,600 organizations, each with 1,000 employees or more and revenues ranging from approximately $100 million to over $10 billion—across 14 major industries and 18 countries. These organizations are, in aggregate, responsible for over 40% of global emissions.

Digital Solutions Are Required

Respondents believe more leadership support, better policy incentives (e.g., regulation, tax incentives) and adoption of digital solutions are required to accelerate emissions measurement and reduction. On the digital front in particular, organizations with automated solutions for emissions measurement, such as CO2 AI are 2.2 times more likely to measure emissions comprehensively and 1.9 times more likely to reduce emissions in line with their ambitions.

“The results of this year’s survey tell a clear story—the time has come to urgently accelerate progress in terms of the measurement and reduction of emissions,” said Hubertus Meinecke, global leader of BCG’s Climate & Sustainability practice. “Leaders need to demonstrate true convictions and a willingness to drive cultural changes—at both the company and governmental level, and organizations need to embrace the adoption of the digital and AI tools that are available to provide them with the most accurate and comprehensive measurement.” 

A copy of the findings can be downloaded here.