Deloitte 2023 Sustainability Report: Most Organizations Have Increased Investment but Tough to Move the Needle

Deloitte | Release | Jan 16, 2023

75% of CxOs said their organizations have increased their sustainability investments over the past year

• Deloitte built upon past research by surveying more than 2,000 CxOs across 24 countries to gauge concerns and actions from business leaders on climate change and sustainability.
• While every CxO surveyed responded that their organization felt the impacts of climate change this past year, some concerns:
  • CxOs reported “resource scarcity/cost of resources” as the top issue already impacting their companies (46%),
  • 45% highlighted “changing consumption patterns or preferences related to climate change”
  • 43% reported “regulation of emissions” as other top issues impacting their companies.
  • Additionally, around a third of executives said climate change is negatively affecting their employees’ physical (37%) and mental (32%) health.
• 82% of executives said they have been personally impacted by climate events over the past year, with extreme heat the most frequently cited issue, and 62% said they feel concerned or worried about climate change all or most of the time.

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• Organizations are feeling broad pressure to act on climate change from across their stakeholder groups:
  • board members and management, regulators and government, and consumers and clients. Organizations are also feeling pressure from their shareholders and investors (66%), employees (64%), and civil society (64%).
• Employee activism is specifically driving increased action, with more than half of CxOs saying employee pressure on climate matters led their organizations to increase sustainability actions over the last year
• Nearly a quarter of CxOs said the difficulty of measuring their organizations’ environmental impact was a top barrier to increased action, and nearly one-fifth cited cost and focus on near-term issues as barriers.

Continue to the press release –> here

Download the 23 page PDF report –> here

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