Corporates will have to step up on achieving decarbonisation goals

Corporates will have to step up their efforts on achieving decarbonisation goals, as funding will be available for viable businesses that work on a high decarbonisation bar. Also, progressively, financing will become scarce for high carbon initiatives even if those are financially viable.

Highlighting the role of company boards in taking the net-zero carbon emission agenda forward, KPMG in its report ‘Decarbonisation and the evolving role of corporate boards’ said that the boards have to ensure that sustainability and climate aspects are brought into day-to-day operations by integrating sustainability and non-financial targets into the existing incentive structure.

The report observed that climate responses towards actionable goals have been slow. Governments, financing institutions, industry participants are coming together through alliances to collaborate and focus towards taking stronger actions, however, the pace of energy transition has been sluggish.