Firms must double green spend: study

Europe’s biggest firms will need to double their green investments if the continent is to achieve ‘climate neutrality’ by 2050, says a study of 882 publicly traded companies by climate research group CDP. Corporate spending on low-carbon technology and infrastructure amounted to €124bn last year, or 12% of total investments. That figure needs to rise to 25% to keep Europe on track for net-zero emissions by mid-century. Companies invested most in electric vehicle technology (€43bn), renewable energy (€16bn) and energy grid infrastructure (€15bn).