Only 41% of Global Companies Have a Published Climate Transition Plan: EY Report

The 2024 EY Global Climate Action Barometer reveals significant progress in climate disclosures, with 94% of companies now reporting climate-related information. However, the report stresses that many businesses are still unprepared for the climate crisis, as only 41% have detailed transition plans and just 51% have long-term emission targets. Despite growing awareness, companies are hesitant to incorporate climate risks into financial statements, with only 36% doing so. Regional disparities exist, with the UK and EU leading in disclosure quality, while major emitters like the US, China, and India lag behind. The report calls for six key actions to accelerate the transition, including integrating climate risk into business strategy, setting science-based emission targets, and enhancing board-level expertise on sustainability. Resources: https://esgnews.com/only-41-of-global-companies-have-a-published-climate-transition-plan-ey-report/