The majority of companies which haven’t set Net Zero targets say the lack of reliable financing is the main obstacle, according to a Masdar report.
Alongside 53% of respondents in a 500-strong survey of senior executives who have not yet set targets, only 30% of executives believed that their decarbonisation budget will be “at least adequate” to support their goals, according to the Hard to abate, ready to start report.
Moreover 54% said the financial squeeze from supply chain constraints, high energy prices for energy buyers and market pressure to keep costs low made it difficult for companies to justify investment in decarbonisation.
Cutting emissions from heavy industries requires new infrastructure, value chains, and technology, which all require investment.
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