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Businesses finding it tough to accomplish net zero goal, says EY's Amy Brachio

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According to EY's global vice chair for sustainability, Amy Brachio, businesses are facing challenges in achieving their energy transition goals due to the global economic slowdown, inflation, and other factors. She emphasizes the need for companies to integrate sustainability into their corporate strategies. Many companies have already taken the easier steps towards reducing emissions, and now face the complexities and interdependencies involved in further steps. Brachio highlights the shift towards electric vehicles in the automobile sector and the use of clean fuels in shipping as examples of the transition providing growth opportunities. The COP28 UN Climate Change Conference's decisions, including the creation of a loss and damage fund, are seen as positive steps, but more funding will be needed to support developing nations in their fight against climate change.