Recent research that Vendigital conducted with 152 C-Suite executives at UK manufacturers revealed a significant gap in respondents’ knowledge about their business’s carbon footprint.
The study showed that 74% of respondents wanted to know more about their business’s carbon footprint, showing that there is still a long road ahead when it comes to reaching net zero.
This knowledge gap was also evident in the number of companies that didn’t consider carbon emissions when sourcing a new part or developing a new product – 32%.
With decarbonisation holding a place on the agenda of many UK manufacturers for some time, this knowledge gap among C-Suite execs is concerning, although not entirely surprising given the various challenges of the past year and a half. However, in order to achieve net zero, and for UK manufacturers to remain competitive, it is essential to make further progress in this area.
Facing the challenge
Even though many manufacturers have begun implementing decarbonisation strategies, the lack of understanding about their exact carbon emissions is adding more complexity to an already challenging process.
In industries such as aerospace, automotive, steel, oil and gas, and chemicals, which are carbon-intensive, the process is already incredibly complex, so it is crucial that manufacturers can achieve full visibility of their carbon emissions.
There is also the challenge of affordability. With deadlines to meet and compliance to think about, it’s clear that decarbonisation is non-negotiable, however the need to balance cost and reward is perhaps more pressing than ever – and 69% of C-Suite executives claim they will only adopt a net zero led sourcing strategy if it delivered a net cost benefit too.
Despite these challenges, the research encouragingly shows that business leaders understand the case for decarbonisation, and the impact this has on their relationships with customers, investors and potential employees.
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