Sustainability is a business imperative, and even if sustainability hasn’t impacted your business yet, it will. All you have to do is look at the increasing regulations on climate-related disclosures, PFAS, and Extended-Producer Responsibility (EPR), or big box retailers demanding sustainability-related disclosures from brands, as well as the increase of consumers that are demanding product transparency and supporting brands that align with their values and the writing is on the wall. Sustainability will soon become a compliance issue, but what do global executives think?
Here’s the key findings from the Deloitte CxO Sustainability Report, which surveyed over 2,100 executives across 27 countries on their views and strategies related to sustainability and climate change:
Climate change is a top-three priority
- 85% have increased sustainability investments
- 70% expect climate change to significantly impact strategies and operations over the next three years
- 92% believe their company can grow while reducing greenhouse gas emissions
- 45% are transforming their business model and strategy to address climate change
Top actions taken – 2024
- 51% using more sustainable materials
- 50% implementing technology solutions to help achieve climate or environmental goals
- 49% increasing energy efficiency
- 49% purchasing renewable energy directly, contractually, or from renewable energy certificates
- 48% developing climate-friendly products or services
Additional actions taken
- 47% requiring suppliers and business partners to meet specific sustainability criteria
- 46% reconfiguring operations, infrastructure, and/or supply chain to be more climate-resilient
- 44% lobbying for or making political donations in support of climate initiatives
- 43% tying senior ‘leaders’ compensation to environmental sustainability performance
Time for your business to take action!
Sustainability is here to stay, and once every company is measuring their sustainability performance, how will you differentiate? The key is to get started immediately and to begin authentically embedding sustainability into your culture and values, and the companies that do so now will have the first/early-mover competitive advantage for years to come.
Our Sustainability Consulting Services
We have helped companies in the fishing/hunting/outdoor industry, travel & tourism industry, manufacturers, and brands that sell to big box retailers not only demonstrably measure and improve their sustainability performance, but also make the business case for sustainability through reduced costs, enhanced reputation, and increased customer loyalty. Additionally, we save our clients thousands of dollars by not having to hire, train, and retain a full-time sustainability team by acting as your company’s outsourced sustainability team!
Check out our Sustainability Consulting Services, and contact us today to start your sustainability journey!