A new report into the level of CO2 emissions produced by companies in the FTSE 100 has revealed that many will need to take greater steps to improve their environmental credentials if the UK is to meet its 2020 emissions reduction target.
The study published by the Carbon Disclosure Project found that 77 per cent of firms listed on the FTSE 100 have an emissions reduction target.
Among those with goals, the average annual reduction rate stands at 2.5 per cent, 0.01 percentage points above what is required to reach the UK's target.
However, the average annual reduction rate among the most carbon-intensive companies is just 1.2 per cent and authors of the research noted that this must increase substantially if the government is to deliver on its promise of a 26 per cent cut in CO2 output by 2020.
Although only 24 businesses fall into this category, collectively they are responsible for 87 per cent of all FTSE 100 reported emissions.
It is estimated that the energy, utilities and materials sector will not reach Britain's interim target until 2030 if it continues at its current rate of CO2 emissions reduction.
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