Decarbonisation as a matter of corporate survival – ArabianBusiness.com

Decarbonisation as a matter of corporate survival – ArabianBusiness.com

When subscribing to sustainability targets, corporations are not just doing their part in preserving the planet but also ensuring their survival amid increased government regulations and consumer awareness regarding environmental concerns, explained Thomas Höhne-Sparborth, head of sustainability research at Lombard Odier, a private banking company.

Regional corporates are also adopting decarbonisation targets, encouraged by their respective country’s governments as they seek to diversify their economies from their historic reliance on oil.

“Since COP 26, we have seen many countries in the region setting net-zero targets. As part of that, these economies are going to be decarbonising too. The reason for that is that most governments today recognise that this transition is accelerating and if you are an economy that is failing to keep up, you are going to be put at a competitive disadvantage as compared to other economies around the world,” explained Höhne-Sparborth.