Some 83% of global executives have increased their sustainability investments in the past year, with 14% reporting a ‘significant’ increase, the latest C-suite Sustainability Survey from Deloitte Global has found.
The survey, of more than 2,100 executives across 27 countries, found that sustainability ranks among the top three considerations for global business leaders, alongside technology adoption, innovation, and economic outlook.
The role of AI
A notable takeaway from the report is that AI adoption is playing an increasingly important role in furthering the business sector’s sustainability efforts, with 81% of respondents saying they are using AI to advance sustainability, through better monitoring and reporting, scenario analysis, product development, and operational improvements.
In addition, 16% of respondents said that while they were not currently using AI in a sustainability context, they planned to in the next year, making the technology ‘already ubiquitous’, according to Deloitte.
Business outcomes
In terms of the most cited business outcome associated with sustainability initiatives, respondents pointed to revenue generation, alongside improved compliance, brand, reputation, risk, and resiliency, with just 10% of respondents reporting negative impacts on business outcomes from their sustainability initiatives.
Elsewhere, there has been a slight drop in the percentage of respondents that are tying compensation packages to sustainability performance, with 36% of respondents doing so, compared to 43% last year.
Fewer respondents also require suppliers to meet specific sustainability standards (38%, compared to 47% last year), and are reducing emissions through renewable energy purchasing (42%, compared to 49%), which may be interpreted as a shift toward more selective prioritisation rather than a broader move away from sustainability targets.
‘Forward-thinking leaders have an opportunity to assess whether their sustainability strategy and investments are integrated with key performance drivers, material risks, and strategic priorities – helping ensure they continue delivering value and operational resilience into the future,” commented Jennifer Steinmann, Deloitte Global sustainability business leader. Read more here.
