Companies are Still Increasing Carbon Emissions, Says Accenture
AI has the potential to reduce emissions, but it is not yet being fully utilised.
European companies are leading in decarbonisation efforts and in achieving net-zero goals.
Accenture's new report highlights the progress made by the world's largest companies in reducing carbon emissions and their commitment to reaching net zero by 2050.
Only 16% of these companies are on track to reach net zero by 2050, while 45% are still emitting carbon dioxide (CO2) into the atmosphere, notes the study.
Artificial intelligence (AI), when used responsibly, can help reduce carbon emissions, but it is not yet being widely used for this purpose or scaled to its full potential. Only 14% of companies are using AI as a lever to reach net-zero goals, and many leaders believe it will help reduce emissions in the long run.
When it comes to decarbonisation efforts, most companies are taking steps to improve energy efficiency, reduce waste, and use renewable energy, making these practices standard for many.
The study says that European businesses are frontrunners in adopting net-zero goals and using AI for decarbonisation. Almost 50% of European companies are using 15 or more methods to reduce emissions, a figure much higher than those in other regions.
“A majority of the world's largest companies are now cutting their emissions even as the size of their operations and revenues grow. While this is a significant milestone, to get to net zero by 2050 all of us need to move faster, together, to reinvent sustainable value chains using deep collaboration and transformative technologies,” said Stephanie Jamison, global resources industry practice lead and global sustainability services lead at Accenture. “AI can help but can only go so far when only 22% of AI-employing companies are currently using it for decarbonization, the most realistic scenario is probably one in which AI initially emits more than it abates, until a critical crossover point. Responsible and sustainable scaling of AI means ensuring that crossover point is reached as early as possible.”
To learn more about the study, click here.
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Source: Accenture
