As per ESG Today, the study, named Destination Net Zero, includes data from around 2.000 large global corporations and experts at Accenture analyzed their sustainability commitments, track records and climate progress for reducing Scope 1 and 2 emissions.

Company experts reported that the number of firms around the world who are committed to net-zero goals is increasing, despite the fact that the pace of growth slowed down a bit over the past year.

Still, companies in Europe are in the lead when it comes to new climate commitments, 61% of them having a net-zero objective in the future, up from only 37% in 2021. If we're looking at the sectors that did the most progress in terms of emissions reduction since 2016, the report shows that the utilities industry decreased 5% every year from Scope 1 and Scope 2. Also, 68% of utilities companies cut back on their carbon footprint since 2016.

At the other side of the spectrum, software and platforms companies have experienced a growth in GHG emissions of 15% on average, with just 35% of the firms in this industry reducing their negative impact.

Experts analyzing the data suggest that only 18% of the world's companies are on track to become carbon neutral by 2050, with 24% of the European corporations being capable of this, compared to 20% of the North American companies.

Jean-Marc Ollagnier, CEO of Accenture for Europe, Middle East and Africa, said that "it’s promising to see an increase in public commitments to net zero targets again this year, but the adoption of key decarbonization measures is not uniform, with some companies still unable to master the basics."

"Reaching net zero is a unique opportunity for every organization to reinvent themselves and their value chains by aligning business growth with the net zero imperative, despite the many obstacles they must overcome. However, it is not just an enterprise challenge but also an ecosystem one, as there is a need to address the disconnect between supply and demand", he added.