Transport firms investing 0.3% revenues into climate action

Only 15% of these companies can survive in a low carbon world, a study has found

Net Hero Podcast

The average transport business invests just 0.3% of its revenue stream into green solutions and tackling climate change.

That’s according to the World Benchmarking Alliance (WBA), which has investigated the climate plans of airlines, shipping, rail and transport companies.

The research claims that 85% of the firms from the study cannot survive in a low carbon world, with just 7% having committed to ending the use of fossil fuels in transport at one date.

Around one third of the world’s annual emissions are generated by transport – but the report has found that 96% of the companies have made no attempt to look at policy changes that will impact the low carbon transition.

On future prospects, 62% of the businesses had no training measures in place for the green transition or to upskill the workforce with modern, low carbon technologies.