A majority of UK companies are taking the issue of climate change seriously, with over three quarters claiming to measure their carbon emissions, according to a survey of FTSE 350 companies carried out by Investec Asset Management.
Some 92 per cent of respondents said climate change was an issue for them, with 78 per cent claiming to measure their carbon emissions and 69 per cent reporting on them.
But despite the high level of recognition of the issue, the survey found only 54 per cent of companies are actually targeting a reduction in emissions.
Half of the respondents felt government policy on climate change was sufficiently clear for companies to make their investment decisions.
John Hildebrand - the head of charity fund management at Investec AM - said: "This year's survey was aimed to give us an updated snapshot of how seriously business is taking the issue of climate change, what actions they are taking, how it might affect them and importantly for us, whether this is a factor for investors."
He added: "It is clear respondents believe the government needs to communicate its climate change policy more clearly to business and in turn, more companies need to convert their awareness of climate change into actually targeting a reduction in emissions."
Investec said its climate change survey was carried out for the second year running and expanded from the FTSE 100 to also include the FTSE 250, with the aim of discovering how attitudes to climate change are changing and the likely impact on companies.