Is your company ready for the green energy transition?

Hero image
  • Insight
  • 2 minute read
  • February 13, 2024

Given the global shift from fossil fuels to low-carbon energy sources, CEOs need to move towards a net zero future to protect the reputation and longevity of their business. And while regulatory complexity is a challenge for many, it’s not insurmountable.

David McGee

David McGee

ESG Leader, PwC Ireland (Republic of)

92% of companies are improving energy efficiency, including reducing energy consumption.

Question: Below is a list of actions companies may undertake related to climate change. Which of the following best describes your company's level of progress on each of these actions?

According to our latest CEO Survey, 92% of CEOs in Ireland are actively pursuing energy efficiency measures in their companies. This shift is crucial for both the environment and business longevity. However, energy transitions come with unique challenges.

For example, regulatory complexity is the most significant hurdle to decarbonisation according to 71% of Irish CEOs. Despite this difficulty, everyone must navigate the challenges—regardless of size or industry—to contribute to a sustainable, low-carbon future for all.

To steer their companies towards net zero, CEOs need to:

  1. Set clear, long-term goals: create a flexible and strategic plan that aligns with global sustainability standards and complements the primary business strategy.

  2. Encourage innovation and flexibility: foster a workplace culture that welcomes new ideas and adapts easily to change. Support research and explore new business opportunities to stay competitive.

  3. Communicate transparently with stakeholders: regularly update everyone involved with the company on energy transition goals and achievements to build trust and spark collaboration.

  4. Commit to sustainability: do more than merely comply with the rules. Choose options that benefit both the environment and society. In doing so, you will demonstrate your company’s dedication to ethical and sustainable practices.

  5. Use data and technology wisely: invest in technology for effective data collection and analysis. Use this data to make informed decisions about energy efficiency and sustainability.

Energy transitions can be challenging, but they present many business growth and innovation opportunities. Embracing change allows CEOs to guide their companies towards net zero and ultimately, a more sustainable future.


Make your ESG actions count.

Contact us

David McGee

David McGee

ESG Leader, PwC Ireland (Republic of)

Tel: +353 86 268 1522

Follow PwC Ireland