Tesco and Ocado are just two of the household names which are not meeting expectations on their climate-related disclosures, according to research from Insig AI.
The grocers are among the 70% of FTSE100 blue-chip firms which are not giving enough information about how they will meet their net-zero goals and reduce carbon emissions in their investor reports.
The data revealed that while the top 30 businesses were setting the bar on the volume of information they were giving out, the remainder were not sharing enough information about how they planned to survive in a ‘greener’ economy.
The group of 70 ‘laggards’ are currently only making a brief mention of their planned approach to climate-related issues, leaving the companies open to accusations of greenwashing. The worst-performing 30 of those are reporting 87% less information to address their contribution to climate change and how they would function in a low-carbon world.
READ MORE: Ocado Retail becomes ‘first supermarket’ with net zero HQ
The news comes just weeks after the Competition and Markets Authority (CMA) launched an investigation into George at Asda following concerns that it was making unverified sustainability claims about its clothing ranges.
Insig AI’s head head of climate-related research, Diana Rose, said: “Despite the burden that comes with comprehensive reporting, other benefits come from engaging on these challenges and it’s a strategic opportunity to take leadership as we transition to a low-carbon economy.”
The data follows claims from business experts that companies are publishing misleadingly healthy accounts because they are failing to factor in how climate change will affect their business in the future.
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