Seven in 10 UK energy and chemical companies say they have public plans to reduce their impact on the climate, reveals survey

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9th November 2021 14:46 - Utilities

Seven in 10 UK energy and chemical companies say they have public plans to reduce their impact on the climate: A survey by commodity intelligence firm ICIS has revealed that 71% of UK chemical and energy organisations have stated they have plans to help tackle the issue of climate change, which are now public.

In contrast, similar companies across Europe are less likely to have implemented plans to reduce their impact on climate change, found the research, with just over a quarter (26%) of energy and chemical companies in France and 15% of companies in Germany stating they have made their plans public.

The poll surveyed over 1,000 executives within the energy and chemical sector from a number of countries across Europe in light of the COP26 event in Glasgow, where representatives and world leaders met to discuss climate change.

When asked about their reasoning behind releasing their company plans for reducing its impact on the climate, a third said it was 'morally the right thing to do', while 30% stated the opportunity for business from their plans was too much to miss out on.  A further 29% said they felt pressured by the new rules and regulations set by governing bodies.

Of the UK executives surveyed, 99% said their company has a plan of action in place to reduce their impact on the environment. Furthermore, nearly two thirds (64%) said they are set to reach their target in the next year.

Alison Jones, strategy director at ICIS, said: "As a result of the current climate crisis there is mounting pressure on companies from consumers and regulators alike to rapidly to show the steps they’re taking to reduce their climate impact. The industry has a responsibility to look beyond the boundaries of their own organisations.”

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