Over the last year, global executives have faced a number of challenges, including economic uncertainty, geopolitical conflict, supply chain disruptions, and talent shortages. While the vast majority of CxOs surveyed share the view that the world can achieve global economic growth while also reaching climate change goals, there continues to be a gap between actions and impact as organisations are slower to implement the “needle-moving” actions that embed sustainability into the core of their strategies, operations, and cultures, according to Deloitte’s survey of more than 2,000 CxOs across 24 countries. The following deck examines how South Africa’s executives stand out from their global counterparts on key themes.
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 impact on their organisation’s strategy and operations over the next three years. Some 75% said their organisations have increased their sustainability investments over the past year, nearly 20% of whom say they’ve increased investments significantly.
CxOs are highly worried about climate change but also optimistic about their climate actions:
Companies are feeling broad pressure to act across stakeholder groups—from the board/management to customers to employees:
ORGANISATIONS ARE ACTING, BUT STRUGGLING TO MOVE THE NEEDLE
While companies are acting, 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.
Our report further explores the disconnects between ambition, action, and impact as well as steps CxOs can take to bridge the divide and accelerate progress to a green transition.