2019.32 The transport and public utilities sectors lead this trend, with 53% of companies having renewable energy targets in 2022; services are again on the opposite end, with 29% of companies having such targets.33 Both targets translate into actual changes in total and renewable energy consumption. Between 2019 and 2023, total energy consumption dropped by 20%, accounting for the majority of emission reductions. Over the same period, the share of renewable energy in total consumption grew from 10% to 16%.34 A recent study found that in 2024, 35% of European G2000 companies have energy efficiency targets, and 55% have renewable energy targets.35 The same research revealed that 97% of European G2000 companies actively leverage energy efficiency and renewables to lower their emissions.36 Energy consumption of European companies, kilowatt hours (kWh) FIGURE 5 Conventional Renewable00.511.522.53Energy consumption (kWh, trillions) 2019 2020 2021 2022 202390%10% 11% 13% 14%16% 84% 86% 87% 89% Note: Sample size: total N = 229; renewables N = 228. Source: Accenture analysis; ESG Book. Resource efficiency is an important measure of companies’ environmental impact, particularly in relation to the circular economy. The amount of waste produced by companies is one of the clearest indicators of resource use. In 2022, 45% of the analysed companies had waste-related targets, an increase from 34% in 2019.37 The manufacturing sector drives this trend, with 62% of companies having waste-related targets in 2022 compared to 48% in 2019.38 The service sector is on the opposite end, with just 14% having targets in 2022 and 10% in 2019.39 These targets have not yet translated into measurable progress in waste management, however. Between 2019 and 2023, the amount of waste generated by the analysed European companies grew by 16%.40 This growth is largely attributable to a single sector, as over 90% of waste comes from the mining sector,41 where mineral waste remains difficult to recycle. Excluding the mining sector, waste generation has been relatively stable between 2019 and 2023. This trend is also observed for recycling rates between 2019 and 2023, which grew slightly for the analysed companies from 64% to 67%.42The top three challenges related to the circular economy and implementation of circular waste solutions in business, as indicated by surveyed companies, are a lack of circular infrastructure along the supply chain, the cost and availability of solutions, and permitting processes.43 Water resource management is another key sustainability metric used by companies. In 2019, 25% of analysed companies had water resource management targets, which increased to 32% in 2022.44 Again, the manufacturing sector leads in setting water-related targets, with 38% of companies setting targets in 2019 and 50% in 2022.45 This is notable as the manufacturing sector consumes around 2 billion tonnes of water each year, accounting for half of total water consumption (the portion of water not returned to the original source after being withdrawn) of analysed companies.46 Water-related targets also translate to use efficiency improvements, as water withdrawals (freshwater taken from water sources and conveyed to a place of use) dropped by 5% between 2019 and 2023 and water consumption by 9% over the same period.47 1.3 Circularity and resource management Delivering on the European Green Deal: A Private Sector Perspective 10

Delivering on the European Green Deal A Private Sector Perspective 2025