While scientists have been warning about the impacts of global warming for decades, it is only recently that those warnings have been taken seriously by the business community at large. Signs point to more business leaders waking up to the threat of climate change, a sign that the needle is hopefully moving in the right direction. A recent survey from Capgemini surveyed business leaders from 2000 organizations across 15 countries on a range of issues. Their results found that more business leaders are recognizing the existential threat posed by climate change stating that:
“Close to half (48%) of business leaders believe that climate change will cause the majority of operational disruptions in the coming decade. Already, droughts linked to climate change have brought water levels to record lows along major transportation routes such as the Panama Canal, the Rhine and Danube rivers in Europe, and the Mississippi river in the US, causing significant logistical issues. Business leaders expect such impacts to intensify”
Even more respondents (66%) believe that the relentless pursuit of growth is incompatible with addressing the climate and ecological crisis. Additionally, 52% of respondents report plans to increase investments in sustainability in 2024, compared to 33% in 2023.
These survey results are generally in-line with others that we have seen indicating that the landscape around sustainability may be changing rapidly. As more business leaders recognize the underlying threats climate change poses to their business, emissions reductions move from “nice to have” to a necessity. These survey results bode well for ESG and hopefully will result in more programs, funding, and staffing for tackling sustainability issues. Even so, ESG professionals and their external advisors will need to maintain business sense in their pursuits.
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