ABB: 83% of companies worry about energy, cut investments

(CIANEWS) - Fluctuating energy costs and instability of supply continue to threaten the competitiveness of 92% of businesses. They are therefore reducing investment in recruitment, training, development and wages. This was revealed in an ABB Energy Insights survey of 2,300 business leaders in 10 countries. Energy supply problems are a concern for 83% of respondents, with more than half of them highlighting the impact of the situation on their companies' decarbonisation goals. Energy prices are causing lower profit margins (34%) and reduced spending in some areas (34%), leading to reduced investment in R&D etc. Spending on technology has been or is planned to be reduced by 38% of companies, 33% expect to reduce spending on infrastructure and 31% expect to reduce spending on marketing.



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