More than nine out of 10 (92 per cent) businesses need to make technology investments to help improve energy efficiency, says research.

Most EU-based corporates are now required by the EU Emissions Trading Scheme to account their CO2 emissions and face heavy fines for non-compliance.

But businesses are going to struggle to report accurately without investment in improved carbon measurement systems, according to Coleman Parkes director of research Ian Parkes.

"With 74 per cent of European companies not even sure how to measure their current impact, it seems that there is some way to go before business and government is joined up," said Parkes.

"Offering organisations technology to help them achieve their aims is one key way of ensuring we make our targets."

More than 90 per cent of companies surveyed said that government cannot make the required changes for the low carbon economy without the support of business.

Firms from the UK, France, Germany, the Netherlands and Sweden participated in the research.