Companies across Asia Pacific are racing to decarbonise as consumers and investors scrutinise the carbon footprint of the corporate world.

Environmental non-profit organisation CDP noted that over 3,000 firms from 21 countries in the region disclosed their sustainability performance, risks, opportunities, strategies and targets to it in 2020, an increase of almost 20 percent in a year.

About 70 percent of those businesses had emissions reduction targets, and were carrying out initiatives such as setting an internal price on carbon, researching and developing low-carbon products, and allocating a dedicated budget for energy-efficiency measures.

Still, CDP highlighted gaps. “Despite increased reporting on direct operations, emissions data from supply chains remains elusive,” it said, adding that such information is crucial as firms’ supply chain emissions are, on average, 11.4 times as high as their operational emissions.

To accomplish net-zero emissions, businesses should follow six steps, said Michael Salvatico, head of Asia Pacific environmental, social and governance (ESG); business development at market intelligence firm S&P Global’s sustainability intelligence group, Sustainable1.

Read the full article about net-zero emissions by Feng Zengkun at Eco-Business.