Accenture: Net Zero Goals Elude Majority of Global Giants

Few of the world’s largest corporations are on track to meet net zero emissions targets by 2050, according to a new report by Accenture.

Only 16% are progressing towards these goals, while nearly half have actually increased their carbon emissions.

The findings raise questions about the scale and speed of corporate decarbonisation efforts, with some pointing to AI as both a risk and a potential game-changer for sustainability.

Accenture’s "Destination Net Zero" report, now in its fourth year, examines the progress of the 2,000 largest companies by revenue towards reducing carbon emissions.

While 52% of these firms have managed to cut emissions since the 2016 Paris Agreement, the overall picture is less optimistic. Only 37% have set comprehensive net zero targets and 45% have seen their emissions increase.

Stephanie Jamison, Global Sustainability Services Lead at Accenture, highlights the urgency: “A majority of the world's largest companies are now cutting their emissions even as the size of their operations and revenues grow.

"While this is a significant milestone, to get to net zero by 2050, all of us need to move faster, together, to reinvent sustainable value chains using deep collaboration and transformative technologies.”

The report highlights five key strategies - energy efficiency, waste reduction, renewable energy, circular economy principles and decarbonisation of buildings.

These methods are gaining traction, with 80% of companies adopting at least one. Notably, 30% have implemented 15 or more such measures, a trend most pronounced in Europe, where 48% of companies lead on multiple fronts.

European businesses also stand out for their net zero ambitions, with 64% setting such targets, far surpassing Asia Pacific (28%) and North America (22%). Additionally, Europe leads in using AI for decarbonisation, with 20% of companies leveraging the technology compared to just 14% in Asia Pacific and 10% in North America.

The role and risks of AI in emissions

AI emerges as a double-edged sword in the journey to net zero. While its potential to optimise processes and reduce emissions is promising, its rapid adoption poses risks.

Accenture’s analysis suggests AI-driven energy use in data centres could drive a tenfold increase in emissions, from 68 million tonnes of CO2 equivalent in 2024 to 718 million tonnes by 2030, if innovation in energy systems and algorithms fails to keep pace.

Despite this, corporate leaders are optimistic about AI’s long-term impact. In a survey, 65% of executives believe AI will reduce emissions over the next decade, though only 22% of companies currently use AI for decarbonisation.

Stephanie emphasises the need for careful scaling: “AI can help but can only go so far when only 22% of AI-employing companies are currently using it for decarbonisation.

"The most realistic scenario is probably one in which AI initially emits more than it abates, until a critical crossover point. Responsible and sustainable scaling of AI means ensuring that crossover point is reached as early as possible.”

Tools, trends and future solutions

Accenture’s findings suggest businesses are beginning to rewire operations for net zero, but more decisive action is required.

The report identifies AI as a vital tool, provided it is applied responsibly. For instance, Accenture has developed custom AI tools for sustainability reporting, including a large language model trained on 15,000 ESG reports.

This innovation helps streamline data collection and boosts productivity, reducing time spent on regulatory disclosures by up to 70%.

European firms are leading the charge, marrying decarbonisation with competitiveness.

Mauro Macchi, CEO of Accenture EMEA, credits this to the region’s regulatory framework and commitment to innovation: “It's encouraging to see businesses across the region taking a lead both in setting ambitious net-zero targets and using new technologies such as AI to reduce carbon emissions.

"This will help boost growth and resilience as regulations such as the CSRD come into force.”

As sustainability becomes a core part of business strategies, Accenture continues to support clients in transforming supply chains, adopting green IT and embedding carbon intelligence in decision-making.

The company's Sustainability Services portfolio aims to deliver measurable environmental, social and governance outcomes, helping businesses unlock growth while reducing their environmental footprint.

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