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More and more companies see opportunities for development in decarbonization

Analysis

As a result of the pandemic, more and more companies are accelerating the implementation of strategies to reduce carbon dioxide emissions, according to the analysis of international consulting company Bain & Company. Companies stop treating the energy transformation as a threat and begin to see it as opportunities for commercial development and value-building, the Warsaw Business Journal reports.

The majority (60%) of executives of the world's leading companies surveyed by Bain & Company believe that the energy transition will have a key impact on the future of their sectors. As a result, more than a third (35%) of enterprises have changed their business priorities and are looking for new development opportunities. The respondents also admit that meeting the climate challenges will require a thorough reconstruction of the business and will cover all aspects of the company's operations. 

"During the pandemic, public awareness of global warming increased, and thus indirectly increased pressure on companies from consumers, governments and investors to take action to reduce greenhouse gas emissions," Wojciech Świercz, a junior partner at Bain & Company, said.

"Also in Poland, we can see that more and more companies are aware of the inevitability of changes related to decarbonization, which additionally accelerates the energy transformation in our country," he added. 

Bain & Company experts indicate that, depending on the specifics of the industry, companies undertake activities related to business restructuring in three different ways. Companies in the consumer goods sector are gradually rebuilding their core business by implementing new solutions to eliminate CO2 emissions. Another way is to develop new business areas. The third way is to completely change the core business. An example is the Danish energy concern Ørsted, which has transformed from a company based on the extraction and combustion of fossil fuels into a company developing offshore wind farms. 

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