Climate change has been ranked among the top three issues of concern by CXOs with 75 per cent of those surveyed saying that companies have increased their sustainability investments over the past year, according to the Deloitte CXO Sustainability Survey 2023.
While globally, climate change is a bigger concern than innovation, talent, supply chain and geopolitics, it is second only to economic outlook.
In India, however, the Deloitte survey found climate change was a higher priority, ahead of ‘economic outlook’, as compared to global executives, with 57 per cent calling it a “top three priority” compared to 42 per cent of global CXOs.Compared to the global average, Indian CxOs are likely to report feeling more stakeholder pressure to act from board members - 78 per cent, the government 72 per cent and shareholders 71 per cent.
Sixty per cent of Indian CxOs rated a “just transition” to be extremely important to their organisation’s sustainability efforts, as compared to 46 per cent of global executives. A just transition seeks to ensure that substantial benefits of transitioning to a green economy are shared widely.
Deloitte surveyed 2,016 CxOs across 24 countries to gauge concerns and actions from business leaders on climate change and sustainability.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Tue, January 17 2023. 22:43 IST
RECOMMENDED FOR YOU