Post by account_disabled on Feb 18, 2024 1:44:25 GMT -5
Although organizations recognize the need for sustainability and most have announced net -zero commitments , a gap remains between long-term goals and concrete short-term actions, according to a new report from Capgemini Research Institute, “One World in balance: why sustainability ambition does not translate into action» . The report also points out that the feasibility study for applying sustainability measures is underestimated or not understood, since only 21% of executives consider it to be clear.
To find out whether companies have taken Middle East Mobile Number List the urgency of achieving sustainability seriously enough, and evaluate their progress over the years, the Capgemini Research Institute conducted the first edition of an annual global research study, surveying to 2,004 executives from 668 large organizations (with annual revenues greater than USD 1 billion) from 12 countries and key sectors.
Companies see sustainability as a cost
Although the vision of sustainability is being integrated into the remodeling of business strategies and nearly two-thirds (64%) of executives affirm that sustainability is on the agenda of each of their organization's senior managers, it is still There is a gap between climate ambition and concrete actions: less than half (49%) have a defined list of initiatives for the next three years, and just over a third (37%) of respondents say their company is redesigning its operating model. In general terms, the level of investment in sustainability initiatives of companies, whose revenues exceed USD 20 billion, is just 0.41% of total revenues on average, while smaller companies (with revenues between USD 1 billion and USD 5 billion) are investing more (an average of 2.81%), compared to an average of 4% for Research and Development (R&D) spending by S&P 500 companies in 2020.
Additionally, the report reveals that many organizations continue to view sustainability as a cost and lack a collective vision and coordination around sustainability efforts across their operations, and that different teams continue to work in silos. For example, only 43% of respondents say sustainability-related data is available and shared across the organization, and less than half (47%) of companies actively hire new talent with strong sustainability competencies. of sustainability.
sustainability as cost
Employee expectations and regulations are the main drivers of sustainability initiatives
Currently, the main drivers of sustainability initiatives are pressure from current and future employees (for 60% of executives) and the need to anticipate stricter future regulation (57%), while 52 % of executives say they expect this will increase their income in the future. Most companies hesitate for fear of the possible short-term economic implications. Sustainability is seen as a cost, rather than a value center, especially in the context of the global macroeconomic situation. In this sense, only one in five (21%) respondents believe that the viability of sustainability is clear, while 53% believe that the cost of undertaking such initiatives exceeds the potential benefit. In contrast, the report reveals that organizations that prioritize sustainability are already outperforming organizations that view sustainability as a cost.
To find out whether companies have taken Middle East Mobile Number List the urgency of achieving sustainability seriously enough, and evaluate their progress over the years, the Capgemini Research Institute conducted the first edition of an annual global research study, surveying to 2,004 executives from 668 large organizations (with annual revenues greater than USD 1 billion) from 12 countries and key sectors.
Companies see sustainability as a cost
Although the vision of sustainability is being integrated into the remodeling of business strategies and nearly two-thirds (64%) of executives affirm that sustainability is on the agenda of each of their organization's senior managers, it is still There is a gap between climate ambition and concrete actions: less than half (49%) have a defined list of initiatives for the next three years, and just over a third (37%) of respondents say their company is redesigning its operating model. In general terms, the level of investment in sustainability initiatives of companies, whose revenues exceed USD 20 billion, is just 0.41% of total revenues on average, while smaller companies (with revenues between USD 1 billion and USD 5 billion) are investing more (an average of 2.81%), compared to an average of 4% for Research and Development (R&D) spending by S&P 500 companies in 2020.
Additionally, the report reveals that many organizations continue to view sustainability as a cost and lack a collective vision and coordination around sustainability efforts across their operations, and that different teams continue to work in silos. For example, only 43% of respondents say sustainability-related data is available and shared across the organization, and less than half (47%) of companies actively hire new talent with strong sustainability competencies. of sustainability.
sustainability as cost
Employee expectations and regulations are the main drivers of sustainability initiatives
Currently, the main drivers of sustainability initiatives are pressure from current and future employees (for 60% of executives) and the need to anticipate stricter future regulation (57%), while 52 % of executives say they expect this will increase their income in the future. Most companies hesitate for fear of the possible short-term economic implications. Sustainability is seen as a cost, rather than a value center, especially in the context of the global macroeconomic situation. In this sense, only one in five (21%) respondents believe that the viability of sustainability is clear, while 53% believe that the cost of undertaking such initiatives exceeds the potential benefit. In contrast, the report reveals that organizations that prioritize sustainability are already outperforming organizations that view sustainability as a cost.