Rising energy costs see greater business focus on decarbonisation

Rising energy costs and growing demand are seeing energy strategy rise up the corporate agenda, according to a new report.

PwC’s annual State of Decarbonisation report found that more companies are increasing their sustainability ambitions rather than reducing them.

The findings show that 23% of companies are increasing their commitments compared to 18% scaling back, while 82% are maintaining or accelerating timelines.

Businesses are also increasingly focusing on energy optimisation and operational efficiency to deliver emissions cuts and cost savings.

David Linich, Partner at PwC said: “What the data shows is that the business case for decarbonisation is getting stronger, not weaker.

“Even in a tougher environment, most companies are staying the course, and the leaders are shifting from broad ambition to disciplined execution that supports resilience, growth and long-term value.”