More than 90% of Spanish companies have a CO ₂ reduction policy, but only 37% have clear objectives

91 percent of large Spanish companies have an emission reduction policy, although only 37 percent have clear objectives to carry out this policy, according to a study by the ESG data consultancy Refinitiv.

The figure is 14 percent higher than the 80 percent of companies that five years ago had a policy to reduce greenhouse gas emissions. Spain stands out above the European average, where 81 percent have a reduction policy, eleven percentage points less.

The difference is not so pronounced in terms of clear objectives, since 37 percent of large Spanish companies do have them, compared to 35 percent, that is, two percentage points.

The study has analyzed 45 large Spanish companies from sectors as diverse as banking, hotel, technology and energy, among others, through its ESG database to know which are positioning themselves to be more successful in the transition to a low-carbon economy.

In terms of waste, 91 percent have initiatives, 3 percent more than five years ago. In total, the average tons of waste per million dollars generated is 86,691 tons and the recycling ratio is 55 percent.

Regarding the supply chain, he points out that in Spain 84 percent of companies establish environmental policies for their suppliers. In terms of water management, 68 percent have a water efficiency policy, but only 25 percent have water efficiency objectives.

Finally, Refinitiv warns that not adapting the commercial purpose to these trends will “severely” affect business growth in the long term.

Source: The Vanguard