// Tesco to Ocado are falling short on giving information about how they will survive in a ‘greener’ economy
// The grocers are among business only briefly mentioning issues including meeting net-zero goals and reducing carbon emissions
According to new research, household names from Tesco to Ocado are failing to provide enough information about how they will survive in a ‘greener’ economy.
The grocers are among a group of ‘laggards’ on the FTSE100 which are not giving enough information about how they will meet their net-zero goals and reduce carbon emissions in their investor report, the research from Insig AI, seen by the Daily Mail, found.
It comes just weeks after the Competition and Markets Authority announced it was launching an investigation into Asos, Boohoo and Asda over fears that they were ‘greenwashing‘ – making sustainability claims about their clothes which could not be backed up.
Insig said 70% of ‘blue-chip’ companies in the UK fell short of expectations over climate-related disclosures, leaving the companies open to accusations of greenwashing.
While the top 30 companies set the bar for the amount of information they disseminated, the rest failed to keep up.
The worst-performing 30 of those are reporting 87% less information to address their contribution to climate change and how they would function in a low-carbon world.
Insig AI’s head head of climate-related research, Diana Rose, said: “Despite the burden that comes with comprehensive reporting, other benefits come from engaging on these challenges and it’s a strategic opportunity to take leadership as we transition to a low-carbon economy.”
Among the top reporters on climate change, according to Insig data, are some of the companies most vulnerable to environmental change and efforts to make the world less dependent on fossil fuels.
The data follows claims from business experts that companies are publishing misleadingly healthy accounts because they are failing to factor in how climate change will affect their business in the future.
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