Chief execs in key European countries are pushing back on net zero commitments to focus on their core business, in the face of a volatile energy marke

Euro execs extend net zero timescales amid energy cost and supply crunch

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2024-11-07 15:00:07

Chief execs in key European countries are pushing back on net zero commitments to focus on their core business, in the face of a volatile energy market with rising costs and supply issues.

These potentially worrying findings come from a survey of 400 CEOs at companies with a turnover above €200 million ($214 million) from across the UK, Germany, France and Italy, in high-energy industries including datacenters.

It claims more than 95 percent of respondents have now altered their planned timescale for reaching net zero, in response to recent energy market upheavals. Half extended their time to get to net zero, 37 percent adjusted short-term goals but were otherwise on track, 9 percent accelerated their goals and 4 percent kept their plans unchanged.

The survey, conducted by research org Censuswide on behalf of industrial energy solutions biz Aggreko, found that cutting energy costs and delivering a commercial advantage were the top priorities for industry chiefs, and perhaps not surprisingly, only 12 percent cited speed of decarbonization as their prime concern.

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