A study by the UN Global Compact and Accenture pointed out that 66% of executives indicated that their companies are engaged in the cause
A study by the UN Global Compact and Accenture pointed out that 93% of CEOs are facing ten or more sustainability challenges and, of these, 87% believe that the current level of change is so high that it should impact the delivery of the Sustainable Development Goals of the UN (SDG).
According to the survey, 98% of leaders agree that sustainability is a key issue in their positions, a sentiment that has grown by 15% compared to the last 10 years of the study.
“In a world marked by conflict, power outages, high inflation and the threat of recession, this year’s study shows that CEOs no longer believe that the world is as resilient to crises as we had hoped. Business continues to be heavily impacted and, as As a result, they have a wide range of problems such as climate change out of control and the growth of social and economic inequalities.The actions of companies, now, do not have the necessary ambition and pace to achieve the Sustainable Development Goals in 2030, he said. Sanda Ojiambo, Assistant to the UN Secretary-General and CEO of the Global Compact.
With just seven years left to meet the SDGs, 43% of CEOs surveyed for the survey said sustainability efforts were hampered by the geopolitical environment. The percentage is even higher in developing countries, reaching 51%.
When it comes to zero carbon, Accentura has pointed out that almost all companies will fail their own targets if they don’t double the reduction of carbon emissions by 2030.
According to the survey, two-thirds of executives (66%) indicated that their companies are engaged in long-term strategic partnerships and building resilience, reconfiguring the supply chain, giving new skills to their teams, reassessing relationships with natural resources and reimagining planetary frontiers through technological breakthroughs that span physical, digital and biological solutions.
“Not achieving the SDGs is a real concern, but at the same time it is a huge opportunity for companies to reinvent themselves and place sustainability as a key force for change in the next decade. Clearly CEOs are concerned about resilience. But the resilience from one to growth opportunity for another. New waves of technology investment and breakthrough discoveries could put the SDGs within reach again. But only if leaders turn to sustainability to create new markets, products and services that can correct the current trajectory and guide growth in times of change, said Peter Lacy, global lead for sustainability projects at Accenture.
Survey respondents also identified the need to focus on technology to find solutions that can overcome global challenges and drive growth. According to the data collected, respondents are bringing sustainability to their businesses through new products and services (63%), improving sustainability data throughout their value chain (55%) and investing in renewable energy (49%) . Additionally, nearly half (49%) are shifting to a circular business model and 40% are increasing investments in sustainable innovation.
In their interviews, CEOs identified key initiatives for building business resilience: setting climate goals with science-based targets, investing in workforce diversity, partnering with other industries for technology solutions, increasing visibility supply chain and protect greater biodiversity. In addition, they continue to call on governments to change policies to prioritize measurable long-term goals, standardize work on ESG, a global carbon market, and encourage sustainable business models.
