September2024Deloitte2024CxOSustainabilityReportSignsofashiftinbusinessclimateactionAletterfromJenniferSteinmann©2024.Forinformation,contactDeloitteGlobal.ThisisthethirdconsecutiveyearDeloittehassurveyedglobalCxOsontheirsustainabilityandclimatechangeefforts,andweseeearlybutcriticalindicatorsthatexecutivesarerealizingtheprofoundbusinessopportunityinthetransitiontoalow-emissionsfuture.Reachingnet-zerowilltransformnearlyeveryaspectoftheglobaleconomy,andthespeedandscaleofthattransformationhasacceleratedinrecentyears(eventhoughitremainslessthanwhatisneededtoavertsomeoftheworstimpactsofclimatechange1).Executivesarerealizingthattransformationfirsthand.Manycompaniesseedirectfinancialandbusinessbenefitsfromtheirclimateactions.Mostseecompanygrowthandclimateactiongoinghand-in-hand.Manysaytheyareputtingsustainabilityattheheartoftheirbusinessstrategy,andtheirsustainabilityinvestmentsareincreasing.Wemaybeenteringanewphaseincorporateclimateaction,onewheresustainabilitystrategygoesbeyondafocusoncompliance,riskmanagement,andstakeholderresponsiveness.Instead,sustainabilityisincreasinglyservingasanenginefornewvaluecreation,acompetitivedifferentiator,andadriverofinnovationandtransformation.Weseethismostclearlyamongthecompaniesembracingasetof“needle-movingactions”tohelpdriveimpactinsideandoutsidetheirorganizations—evidencethataproactive,holisticapproachtosustainabilitycanleadtobusinessvalue.Buttoday’sleadingcompaniesalonecan’tcreatethesustainablefutureweneed.Toreachcriticalmassandacceleratethepaceofthetransition,themanycompaniesinthe“moderatemiddle”—thosetakingjustafewhigh-impactactions—willneedtoextendthebreadthanddepthoftheirefforts.Thegoodnewsisthattheseorganizationsareprimedforaction.Deloitte’s2024surveyshowsthattheyseethecurrentandpotentialfutureimpactsofclimatechangeontheirbusinessesandhavealreadybegunthesustainabilityjourneyinimportantways.Thismiddlegrouprepresentsasleepinggiant;ifitawakens,goingfrommoderatetomobilized,itcouldcreateatruetippingpointincorporateclimateactionandcatalyzerapidadvances.Eachorganization’ssustainabilityjourneyisunique…andsometimeslessthanstraightforward.However,weseethatthededicationofbusinessleaderstothiseffortisstrongerthanever.Thetransitionfromawarenesstoactionunderscoresadeeperunderstandingofthelastingbenefitsofinvestmentinsustainability,notonlyfortheenvironmentbutalsoforlong-termbusinessresilienceandgrowth.1UNEP,EmissionsGapReport2023,November2023.1UNFCCCSecretariat,Technicaldialogueofthefirstglobalstocktake.Synthesisreportbytheco-facilitatorsonthetechnicaldialogue,UnitedNationsClimateChange,September2023JenniferSteinmannDeloitteGlobalSustainabilityBusinessLeaderDeloitte2024CxOSustainabilityReport|2TableofContents©2024.Forinformation,contactDeloitteGlobal.3Deloitte2024CxOSustainabilityReport|1.Executivesummary4–5Pages2.Strategicprioritiesandchallenges6–123.Outlookandactions13–174.The“moderatemiddle”18–215.Recommendations:Frommoderatetomobilized22–236.Methodology247.Contacts25Imageclippingmask.TocopyitforclippingpurposesgotoView(tab)–>SlideMaster(button)Executivesummary(1of2)©2024.Forinformation,contactDeloitteGlobal.4Deloitte2024CxOSustainabilityReport|Deloitte's2024CxOSustainabilityReport,surveyingover2,100executivesacross27countriesontheirviewsandstrategiesrelatedtosustainabilityandclimatechange,marksapotentialseachangeinwhatben...
