70% of FTSE100 blue-chip firms are not giving enough information about how they will meet their net-zero goals and reduce carbon emissions in their investor reports. These 70 firms are currently only making brief mention of their planned approach to climate-related issues, leaving the companies open to accusations of greenwashing. The worst-performing 30 of this group are reporting 87% less information to address their contribution to climate change and how they would function in a low-carbon world.
The news comes just weeks after the Competition and Markets Authority (CMA) launched an investigation into Asda following concerns that it was making unverified sustainability claims about its clothing ranges. Insig AI’s head of climate-related research, Diana Rose, said:
“Despite the burden that comes with comprehensive reporting, other benefits come from engaging on these challenges and it’s a strategic opportunity to take leadership as we transition to a low-carbon economy.”
The data follows claims from business experts that companies are publishing misleadingly healthy accounts because they are failing to factor in how climate change will affect their business in the future.