Some 45% of UK executives expect to meet their 2030 decarbonisation targets, according to new research from Siemens.
From 1,400 senior executives in businesses operating across 22 countries, the leaders cite low business confidence, high uncertainty in government policy and progress towards infrastructure transition as main reasons for their doubts.
In the UK alone, executives say that that the risk of recession (25%), poor access to the right skills (20%), a lack of investment in public infrastructure (20%), a lack of private capital (20%) and limitations in the power grid (19%) are restraining their appetite to invest in reducing their business’s emissions.
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Siemens CEO Carl Ennis said: “We must support business and industry to decarbonise if we are to successfully deliver the energy transition we need.
“Progress is being made, but it’s evident from these findings that the UK runs the risk of widening the gap between where we are and where we need to be if we don’t start thinking longer term.”
“A clear industrial strategy is a key piece of the puzzle and would give businesses the confidence to invest meaningfully in cutting carbon, while boosting economic growth and productivity,” Ennis added.
“Over the next few years, adopting clean energy technology and digitalisation software that can help accelerate the transition to net zero will become instrumental, and we need to give companies the right platform to do so.”
