Swiss companies overwhelmingly support the goals of combating climate change, but 40% of them doubt that they will achieve net zero emissions “on time”, according to a study published Monday by the Swiss bank UBS.

While Swiss voters are due to vote on a CO2 law in mid-June, the Swiss bank polled some 2,500 companies in March on their sustainability goals.

According to its survey, nine out of ten companies say they pay great attention to the topic of sustainability in at least one of the three main aspects of environmental, social or corporate governance issues.

A little more than half of the companies have already taken concrete measures to substantially reduce their CO2 emissions, have made a commitment or have developed an internal plan, notes this study.

This figure climbs beyond 60% in industry and the transport sector and approaches 70% among large companies, according to this survey which nonetheless highlights different motivations on sustainability issues depending on the sector. ‘activities or size of businesses.

For large companies in particular, issues of image, compliance with regulations, the needs of their customers and their attractiveness for investors take precedence.

“The issue of sustainability is very important for Swiss companies,” said Sabine Keller-Busse, president of UBS’s market activities, in the statement accompanying the study, “although they still have a long way to go. to browse”.

While a large majority supports the goal of net zero emissions, 40% of companies doubt that this goal is achievable on time, the study said. The challenge for policies is therefore to convince the private sector that a complete reduction in net emissions is possible by 2050, underline the authors of the study.

In 2019, Switzerland adopted an ambitious plan to accelerate efforts to reduce greenhouse gas emissions, with the aim of achieving carbon neutrality by 2050.

The law on which Swiss citizens must vote in mid-June aims in particular to reduce greenhouse gases by at least 50% by 2030 compared to their level in 1990, which serves as a reference point.

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Ref: https://www.connaissancedesenergies.org