Report: Urgent action required for F&B industry emissions
Research has found that Australian businesses, including those in the food and beverage industry, recognise the imperative of achieving net zero emissions as a driver for economic competitiveness and climate resilience, but they are not acting quickly enough to address this challenge.
The findings of Schneider Electric’s Sustainability Index, a 2023 survey of over 500 decision-makers across corporate Australia, highlight the need for increased momentum in decarbonisation efforts. The report reveals that over 77% claimed that sustainable transformation is needed to drive a competitive edge for companies. In the food and beverage industry, this figure was 76%.
69% of businesses also agree that Australia must meet net zero emissions targets to remain economically competitive. 61% of food and beverage industry leaders saw sustainability as an economic imperative.
Despite growing awareness and commitment to sustainability, the survey revealed that many businesses are falling short in implementing strategies. Across industries, 52% of respondents reported discussing or having a decarbonisation strategy in place, indicating that many Australian companies are yet to fully commit to a low-carbon future.
According to Schneider Electric Pacific Zone President Gareth O’Reilly it is essential that businesses set ambitious targets and map out the path to achieving them.
When looking into 2030 decarbonisation targets, the survey revealed that 42% of companies expect to achieve zero Scope 1 emissions, 37% aim for zero Scope 1–2 emissions and 34% aim to achieve zero Scope 1–3 emissions. In the food and beverage industry, these figures are 39%, 36% and 36% respectively.
Across industries, comparisons present a range of complexities on the road to net zero, underlining the need for industry-specific leadership on decarbonisation. Manufacturing leaders, for example, were most likely to report a competitive edge from sustainability, yet it is one of the least optimistic industries in reaching net zero across Scope 1, 2 and 3.
The Schneider Electric Sustainability Index, 2023 revealed a need for action and the importance of digital technology, with 78% of companies acknowledging its key role in achieving sustainability goals. In the food and beverage industry, this figure was 55%, well below the national average.
According to O’Reilly, corporate Australia is ready to embrace sustainability, but businesses must now embrace sustainable transformation, prioritise digitalisation and implement robust decarbonisation strategies.
The full report is available for download here.
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