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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.

Download the Deloitte 2023 CxO Sustainability Report

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Accelerating the green transition requires that C-suite executives lead the path forward and take action now.

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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.

Structure in a business area with buildings in the background

75% said their organizations have increased their sustainability investments over the past year

Almost every organization has felt the impacts of climate change over the past year, and CxOs have been personally impacted.

62%

Leaders feel concerned about climate change all or most of the time

82%

CxOs have been personally impacted by climate events in the last year

Yet leaders remain optimistic.

78%

Leaders are somewhat/extremely optimistic the world will take sufficient steps to avoid the worst impacts of climate change

84%

Leaders agree/strongly agree the world can achieve global economic growth while also reaching climate change goals

Business people walking in airport terminal

While organizations are acting, they’re struggling to move the needle:

Companies are acting: they are using more sustainable materials, increasing energy efficiency, training employees, and developing new climate-friendly products. But they’re less likely to implement actions that demonstrate they have embedded climate considerations into their cultures and have the senior leader buy-in and influence to effect meaningful transformation.

Moreover, when asked about how serious certain groups are about addressing climate change, only 29% of CxOs said they believe the private sector is “very” serious.

Which of the following actions/adaptations has your company already undertaken as part of its sustainability efforts?

Top actions taken

59%

Using more sustainable materials (e.g., recycled materials, lower-emitting products)

59%

Increasing the efficiency of energy use (e.g., energy efficiency in buildings)

54%

Using energy-efficient or climate-friendly machinery, technologies, and equipment

50%

Training employees on climate change actions and impacts

Harder-to-implement, needle-moving actions^*

^* As defined by Deloitte's analysis

49%

Developing new climate-friendly products or services

44%

Requiring suppliers and business partners to meet specific sustainability criteria

43%

Updating/relocating facilities to make them more resistant to climate impacts

33%

Tying senior leaders’ compensation to environmental sustainability performance

32%

Incorporating climate considerations into lobbying/political donations

Two people installing a solar photovoltaic panel system

Leading the path forward

Our 2023 report shows that CxOs believe that both their organizations and the global economy can continue to grow while reaching climate goals and reducing greenhouse gas emissions.

Download the report to explore how leaders can close the gap between ambition and impact, break through barriers to greater action, and start to balance the near-term costs of climate initiatives with the long-term benefits.