Sustainability is now the top priority for major organizations finds survey
- Published: Wednesday, 26 April 2023 09:28
The latest edition of the Futurum environmental sustainability index, produced quarterly by The Futurum Group in collaboration with Honeywell, has revealed that sustainability has now become the leading priority for major organizations.
Based on a double-blind survey of 751 business, technology, and sustainability professionals in leadership roles within organizations with a minimum of 1,000 active employees, the sustainability index measures four key sustainability categories: energy evolution and efficiency, emissions reduction, pollution prevention, and circularity/recycling. In addition to the survey findings, the sustainability index is designed to closely monitor and track business progress on a global scale towards climate change mitigation and other sustainability initiatives.
Key findings from the Q2 2023 survey include:
- Organizations are placing sustainability goals as their top priority for the next six months, surpassing financial performance, workforce development, and business continuity. The survey reported 75 percent of organizations ranked sustainability among their top five priorities, an increase from the previous quarter's figure of 71 percent. Interestingly, sustainability initiatives now hold a significant 19 percentage point lead over digital transformation initiatives.
- Energy evolution and efficiency is considered the top sustainability priority for the coming six months, followed by emissions reduction, pollution prevention, and circularity/recycling initiatives, with no significant changes from previous quarters. Circularity and recycling are poised for growth, indicating organizations are increasingly examining supply chains and material flows to improve the renewal and regeneration of products, services, and resources.
- The current economic and geopolitical environment continues to pose challenges in achieving sustainability goals for organizations, aligning with the trend from the previous survey.
- Organizations overwhelmingly believe they have been successful in achieving their environmental sustainability goals over the past 12 months, and optimism remains high for near-term goals. Long-term environmental sustainability targets are also viewed positively, with increasing optimism about achieving 2030 targets across all categories.