The remarkable rise of 'greenhushing'

Businesses once trumpeted their climate goals. Now they are quietly plugging away.

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Read the headlines and the easy conclusion is that big business has abandoned the fight against climate change. In the past two weeks, BP, an oil giant, sold its American onshore wind business; Jaguar Land Rover, a carmaker, has reportedly delayed the launch of its new electric Range Rover; and HSBC, a bank, left the Net-Zero Banking Alliance (NZBA), a group committed to lending in a greener way. But these bits of news are only part of the picture. Taken as a whole, companies are quietly making progress on their climate goals.

Consider a report published in March by PwC, an auditor. It found that of the 4,000-odd firms that reported climate commitments in 2024 to the CDP, a non-profit, only 16 per cent dialled back their goals, while 47 per cent stood by them and 37 per cent became more ambitious.

The analysis also found that 67 per cent of companies with targets were on track to meet them, a proportion which had inched up by 3 percentage points compared with 2023.

Once, firms were accused of "greenwashing": making nonsense promises and doing nothing to achieve them. Now they seem to be "greenhushing" - getting on with the job of decarbonisation without making a fuss.