Despite the US being years behind much of Europe on ESG investing, American companies are significantly more likely than those in the UK to have made net-zero goals.
That is according to a report published Wednesday by carbon ratings provider Sylvera, which commissioned a survey in March and April of 250 companies each in the US and UK that employ at least 10,000 people.
More than half – 55% – of UK firms said they have net-zero transition strategies in place, while 78% of US companies reported the same, according to Sylvera’s report.
“The general perception is that European markets are further ahead, however, the survey data indicates that US counterparts are more advanced in building their strategies than UK corporations,” Sylvera COO Sam Gill said in an announcement of the findings.
“Regardless of where these companies are located, the next 12 months will be pivotal in hitting climate targets, putting words into action and ensuring that net-zero transition plans are not just created but also implemented.”
Decision-makers at US firms were also more likely to profess having “expert knowledge” about the voluntary carbon markets, at 50%, compared with 26% of their corollaries at UK businesses.
For companies that utilize those markets, 96% in both countries said they purchase carbon credits, the survey found. More than a third of companies said that pressure from shareholders was what led them to purchase carbon credits.