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Deloitte’s 2022 Climate Check Survey: Climate action ahead of COP27

Since COP26 in November 2021, the world has been upended by the war in Ukraine, rising inflation and global economic uncertainty, among many other geopolitical crises. Each of these poses a risk to the sustained action needed to address the climate crisis. Ahead of this year’s COP27 in Egypt, Deloitte surveyed 700 executives to better understand the state of climate action from the perspective of business leaders.

 

 

 

Deloitte’s latest climate survey, conducted in August and September 2022, sheds new light on executives’ top concerns surrounding the climate crisis, the actions they are taking and those they would like to see governments take and the gap that must be closed between sentiment and action to advance progress towards a more sustainable future.

  • Executives are optimistic. 75% agree COP27 will generate the outcomes needed to conform to the Paris Agreement—and 87% say investing in environmentally sustainable practices has long-term economic benefits.
  • Nearly 40% of organisations will accelerate sustainability efforts over the next year. Yet, external factors such as inflation and geopolitical issues are having an impact on some corporate climate and sustainability strategies.
  • Mixed views on government support. While 55% of executives support new government regulations and policies, only 27% say they want governments to prioritise enforcing existing regulations and policies.
  • Most organisations have initiated climate mitigation and/or adaptation strategies. 69% are executing mitigation and 68% are executing adaptation strategies, but some industries are lagging.
  • Security risks related to climate change lead list of global concerns. Executives also flag greenwashing and ensuring a just transition as key issues that need more global attention.

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