A new pulse survey from PwC shows that 46 percent of Danish companies have a climate target, but 11 percent of them do not expect to be able to achieve it. At the same time, 20 percent of business leaders point to a lack of political framework conditions and insufficient incentives as a significant challenge. This is what PwC writes in a press release.
- Our survey shows that the vast majority of companies expect to achieve their set climate targets, but there is also a significant proportion that does not expect to achieve their climate targets. Thus, there are now also examples of companies that reduce their relative emission targets or postpone the time when they expect to achieve their targets, or both. The survey points out in particular that a lack of political framework conditions, including incentives that can make it more attractive to invest in green transition, has made it more difficult to achieve the set targets, says CEO of PwC Lars Baungaard.
According to the survey, high costs and uncertainty about regulations are among the biggest barriers to green investments. At the same time, the survey shows that 7 out of 10 business leaders want simpler rules for sustainability reporting, and that 35 percent have become more negative towards the reporting requirements in the past year.
- The survey indicates that some companies find that the rules today are too complex and thus negatively affect business. The complexity of the requirements from CSRD in particular may thus risk defocusing management's execution on other important agendas, reducing companies' economic resilience and putting necessary investments, including in the green transition, on hold, assesses Lars Baungaard.
The business leaders point to three main areas that the EU should focus on next year: strengthening competitiveness in relation to China and the USA, reducing administrative burdens and increasing security and defense.
- These are all three important areas that are somehow interconnected. At PwC, we therefore also welcome Ursula von der Leyen's proposal to reduce the administrative burdens of sustainability reporting. It will be interesting to follow what concrete changes the upcoming Omnibus simplification package from the EU will contain, especially with regard to the CSRD, the EU Taxonomy Regulation and the CSDDD, and also in the form of more streamlined legislation now and in the future, says Lars Baungaard.
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