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 organisations.

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 organisations, 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 organisation’s strategy and operations over the next three years.

While organisations 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.

Leading the path forward

Our 2023 report shows that CxOs believe that both their organisations 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.