Almost a quarter of all companies will be carbon neutral by the end of this decade, according to Fidelity International’s annual Analyst Survey.

The survey also finds that European companies are further along with analysts estimating that 30% will be carbon neutral by 2030, with 23% of Asian firms expected to be net zero by 2030. Of Fidelity analysts covering China, 25% report a growing emphasis on ESG at the majority of their companies, up from around 15% in the previous three years.

Jenn-Hui Tan, Global Head of Stewardship and Sustainable Investing, Fidelity International comments: “Our net zero forecasts are based on companies’ current plans, so we expect them to be revised higher in the coming years, as regulations tighten and robust environmental, social and governance (ESG) practices become a baseline for attracting investor capital.”