Sustainability is top of mind for business leaders around the world. Deloitte’s 2024 CxO Sustainability Report surveyed over 2,100 executives across 27 countries on their views and strategies related to sustainability and climate change, and found that climate change is a top three issue for global C-suite level business leaders (CxOs), surpassing political uncertainty, competition for talent, and the changing regulatory environment, among others.
In fact, 85% of CxOs say they have increased investments in sustainability in the past year—up from 75% in 2023—and 70% of executives expect that climate change will significantly impact their companies’ strategies and operations over the next three years.
The research reveals early but promising signs that we are at the start of a new chapter for corporate sustainability. Leaders are beginning to recognize the potential of sustainability as an engine for new value creation, a competitive differentiator, a driver of innovation and transformation, as opposed to merely a compliance and risk management exercise. Notably, nearly half (45%) say they are transforming their business models to address climate change and sustainability in a way that is central to their organization’s strategy. What’s more, few executives foresee trade-offs between business success and climate action; 92% of CxOs believe their company can grow while reducing greenhouse gas emissions, and 90% believe the world can achieve economic growth while reaching collective climate change goals.
Every organization’s sustainability journey is unique and not always straightforward, but most of the organizations Deloitte surveyed have a critical opportunity to drive broader and deeper action, potentially tipping the balance for rapid change. Uncover insights on how executives are realizing the business opportunity in the transition to a low-emissions future and recommendations for leaders to mobilize for meaningful impact.
