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Towards sustainable business practices, more than half of business leaders are poised to increase their investments in sustainability this year.
According to ESG Today, this upward trend represents a significant change from the previous year and indicates greater alignment between business strategy and environmental management.
The findings are part of the comprehensive study “Embracing a brighter future: investment priorities for 2024” conducted by Capgemini Research Institute. This study takes a closer look at the investment trends of companies in a variety of sectors with annual revenues of more than $1 billion.
The report highlights growing optimism among business leaders regarding their companies’ growth prospects, with a remarkable 56% having a positive outlook for their organization, up from the previous year. This is an increase from 42%. This upbeat sentiment underpins a strategic shift towards sustainability, with 52% of organizations indicating plans to increase their investments in sustainability, a significant increase from 33% a year ago.
Capgemini’s research further reveals that executives are increasingly aware of the specific risks and opportunities associated with sustainability. 63% agree that there is a clear business case for sustainability, up from just 21% in 2022. Furthermore, almost half of respondents expect climate change to be the main disruptor to business operations over the next decade, and 61% recognize that a lack of sustainable practices will We believe that our survival may be threatened.
Government incentives are particularly fueling this investment surge. The US Anti-Inflation Act and the EU’s Green Deal industrial plan are critical for most business leaders to step up investment in clean technology. Additionally, the survey reveals a strategic response to stringent ESG regulations, with 52% of organizations restructuring their supply chains through nearshoring.
Capgemini CEO Ayman Ezzat sums up this sentiment: “Business leaders are starting the year more confident than they were 12 months ago, as technology and AI will drive the next stage of the transition to a more digital and sustainable global economy. .”. The good news is that business leaders are increasing investment in a wide range of critical business areas, from customer experience and innovation to people and supply chains, and perhaps even more importantly, sustainability. ”
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