Deloitte 2023 CxO Sustainability Report

Deloitte 2023 CxO Sustainability Report

Over the last year, global executives have faced a number of challenges, including economic uncertainty, geopolitical conflict, supply chain disruptions, and talent shortages, among others. Despite these headwinds, concern over climate change continues to be a top priority for CxOs and their organizations. 

Accelerating the Green Transition

Deloitte’s survey of more than 2,000 CxOs across 24 countries finds that the majority of CxOs remain optimistic the world will take sufficient steps to avoid the worst impacts of climate change and feel a sense of urgency to take action.When asked to rank the issues most pressing to their organizations, many CxOs rated climate change as a “top three issue,” ahead of seven others, including innovation, competition for talent, and supply chain challenges. In fact, only economic outlook ranked slightly higher. Many CxOs (61%) said climate change will have a high/very high impact on their organization’s strategy and operations over the next three years. 

Key highlights:

1. 75% of CxOs said their organizations have increased their sustainability investments over the past year, nearly 20% of whom said they have increased investments “significantly.”

2. Almost all respondents indicated the effects of climate change have impacted their organizations in some way over the past year, and 82% of CxOs have been personally impacted

3. .CxOs said difficulty measuring environmental impact and cost of sustainability efforts are key barriers to climate action