Global business leaders accelerate sustainability investments: Capgemini report
Over half of the global business leaders plan to increase investments in sustainability this year, notes a report from Capgemini (French multinational IT services and consulting company). Sustainability investments are expected to rise at 52% of organizations in 2024. Last year, the number was at 33%.
Capgemini notes that economic incentives drive sustainability investments, with 57% of the global business leaders planning to boost their cleantech investments in the US over the next 2–3 years, thanks to the Inflation Reduction Act (IRA). A similar percentage intends to increase investments in the EU, driven by the EU Green Deal Industrial Plan.
Two thousand respondents from firms with over $1 billion in annual revenue from 15 countries were surveyed. The respondents were from 9 industries. The survey included top-level executives, such as directors and above, from different areas like general management, finance, risk, IT/technology, supply chain, sustainability, operations, and human resources.
The report added that there is widespread recognition of climate change, with 48% of business leaders believing that climate change will cause the majority of operational disruptions in the coming decades.
About 61% of the organizations note that a lack of sustainable practices will be an existential threat. “The only way IKEA can be successful in the future is to be in a hurry to get sustainable,” agrees Jesper Brodin, CEO of Ingka Group in the report.
Aiman Ezzat, Chief Executive Officer at Capgemini, said in a release: “Business leaders are beginning the year with an increased sense of confidence compared to 12 months ago, with technology and AI set to drive the next phase of the transition towards a more digital and sustainable global economy. It is good news that business leaders are increasing investments in a wide array of critical business areas, from customer experience and innovation to talent and supply chains and, perhaps even more importantly, sustainability. We have only scratched the surface of what digital tools and technologies, in particular AI, can achieve to reach these business objectives.”
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