2022

CxO Sustainability Report

The disconnect between ambition and impact

Introduction

CxOs’ apprehensions about the planet’s climate have increased over the last several months, as has their optimism that immediate action can make a difference. But there are multiple disconnects between these business leaders’ opinions and motivations, the actions their organizations are taking, and the impact they’re having, according to Deloitte’s survey of over 2,000 CxOs across 21 countries – including 148 executives in the Nordics.

Disconnects exist between ambitions, actions and impacts

While companies are acting, they are less likely to implement actions that demonstrate they have embedded climate considerations into their culture and have the senior leader buy-in and influence to effect meaningful transformation.

Additionally, CxOs continue to struggle with the short-term costs of transitioning to a low carbon future. The five lowest-ranked benefits of climate strategies cited by CxOs were: revenue from both longstanding and new business, asset values, cost of investment and operating margins.

The global report further explores the disconnect between ambition and action, as well as steps CxOs can take to start to bridge the gap.

Nordic highlights

The Nordic report examines how Nordic executives stand out from their global counterparts. Dive into the three key findings in the Nordics:

Global highlights

Approximately two-thirds of executives say their companies are very concerned about climate change and 79% see the world at a tipping point to act – a number that was 59% in a similar Deloitte survey taken in early 2021. Their concern is influenced by the impact climate change is already having:

  • 97% indicated their companies have already been negatively impacted by climate change, and about half said their operations have been affected (e.g., disruption to business models and supply networks worldwide).

  • Additionally, stakeholder groups – including regulators, shareholders, consumers, and employees – are all adding to the pressure to act.

  • Yet, there is a prevailing sense of optimism: 88% agreed that with immediate action, we can limit the worst impacts of climate change. Eight months ago, that figure was 63%.

Download the global report

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Contacts

Anders Dons

Nordic CEO, Climate & Sustainability Ambassador

Mette Schønnemann

Director of Marketing and Communications

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