CEOs say that at the same time as non-public sector can lead the response, mobilize the capital and deploy the technology needed, climate trade is impacting their enterprise and deliver chains a whole lot earlier than anticipated
Only 18% of CEOs stated that governments and policymakers have given them the readability had to meet their sustainability and climate change targets, says Accenture and the UN Global Compact.
In the most critical sustainability have a examine conducted thus far by means of the United Nations Global Compact and Accenture (NYSE: ACN), simplest 18% of CEOs stated that governments and policymakers have given them the clarity needed to meet their sustainability and climate trade objectives. Released nowadays in advance of COP26 in Glasgow, agency leaders also are sounding the alarm at the early onset of weather-prompted disruption and seeking out government motion — specifically in regions of clean carbon pricing, infrastructure investment and monetary commitments to an equitable net-zero transition inside the Global South — as the window to meet the 1.5°C target by 2030 has started to close.
According to Climate Leadership within the Eleventh Hour — which includes enormous 1:1 interviews with greater than 100 main chief executives and a survey of over 1,100 CEOs throughout 113 countries and 21 industries — non-public sector leaders are suffering to boost up their climate targets, despite the fact that almost three-quarters (seventy three%) say they sense growing pressure to act. More than 1/2 (fifty seven%) of surveyed executives say they’re prioritizing weather movement amid their restoration from the COVID-19 pandemic.
Forty-nine percent of CEOs point to supply chain interruptions because of severe weather as a pinnacle risk, but most effective 7% said they are ‘superior’ in setting up early warning structures to put together for climate-danger events. Moreover, 71% say they are actively operating to expand a net-zero emissions goal for his or her organisation and fifty seven% believe they are operating in keeping with the 1.5°C intention. Yet as an indicator, most effective 2% of these companies have a formal target validated with the aid of the Science Based Targets initiative.
“There are two feasible roads ahead: a deeply wrong business as common approach, or a worldwide economy that protects humans, the planet and the herbal structures that preserve us,” said Sanda Ojiambo, CEO and Executive Director of the UN Global Compact. “Business as ordinary is now not an alternative. It is obvious from the CEOs we surveyed that the business network feels unprepared to address our climate emergency. The UN Global Compact has a important function to play in assisting agencies develop sensible tools and powerful quality practices to deal with the demanding situations in advance, while also making sure they could engage with governments on coverage and regulation.”
The landmark observe additionally factors to a key stakeholder shift in terms of driving CEOs’ weather management and motion. The largest shift seen in 14 years of the look at become buyers and capital markets moving from 8 in 2019 to pinnacle three inside the minds of CEOs going into COP26. The fashion displays the largest leap in stakeholder have an effect on since the have a look at’s inception in 2007, as buyers positioned ever more pressure on groups to map the risks and apprehend the opportunity supplied by way of the transition to a 1.Five°C internet-0 world.
But with simplest a slender window of time left to satisfy these goals, and with the bodily outcomes of weather alternate being felt sooner than most CEOs anticipated, leaders must stand up and be held chargeable for measurable performance,” stated Peter Lacy, Accenture’s international Sustainability Services lead, chief obligation officer and member of the Global Management Committee.
The UN Global Compact-Accenture observe highlights efforts from main CEOs to increase their sustainability budgets, diversify their operations and workforces, and boost up R&D in climate-resilient solutions, using better standards of responsibility and displaying what’s feasible when ambition meets movement on weather. Though almost -thirds (sixty five%) of leaders are already advancing new net-0 commercial enterprise fashions and answers to meet their desires, best 16% of all CEOs stated their adulthood is at a complicated degree nowadays.
“CEOs used to mention that the applicable technology had been too nascent. Well, they’re now mature. Or they might say that buyers and capital markets were now not fully on board with ESG facts. But they’re now. What we virtually don’t have extra of now is time. Governments need to act, and CEOs are equipped to step up. This is not just the proper aspect to do — there is actual business value at stake as well,” brought Lacy.
The upcoming COP26 assembly affords a pivotal second for trade in sustainability. With business leaders carefully positive on worldwide cooperation to clear up the weather disaster, they are highlighting 5 vital asks for negotiators to help them take bolder movement and deliver at the dreams of the Paris Agreement commitments. They are:
“Confronting a triple planetary emergency — a weather crisis, a biodiversity crisis and a pollution crisis — every body needs to scale up our goals and accelerate our movements. The personal zone has a unique responsibility in our collective attempt to build a sustainable, net 0, resilient and equitable global, and to behave on pledges with credible timelines, objectives, and plans. We have what it takes to recognize the promise of the 2030 Agenda and the Paris Climate Agreement — however it’ll take the overall dedication of each one people,” concluded United Nations Deputy Secretary-General Amina J. Mohammed.
About the Research:
The United Nations Global Compact-Accenture 2021 CEO Study represents greater than a decade of studies on sustainable commercial enterprise. Together with the UN Global Compact Progress Report, it bureaucracy the arena’s maximum comprehensive studies thus far on enterprise contribution to the Sustainable Development Goals. In this Special Edition of the CEO Study, the world’s biggest software of CEO studies on sustainability, 1,232 CEOs throughout 113 countries and 21 industries deliver their genuine, unfiltered perspectives on the private area’s contribution to climate motion.
About the United Nations Global Compact
As a special initiative of the UN Secretary-General, the United Nations Global Compact is a name to agencies everywhere to align their operations and techniques with Ten Principles in the regions of human rights, labour, environment and anti-corruption. through accountable businesses and ecosystems that allow alternate. With extra than 13,000 corporations and 3,000 non-business signatories based totally in over one hundred sixty nations, and 69 Local Networks, the UN Global Compact is the arena’s biggest company sustainability initiative — one Global Compact uniting business for a better global. For greater information, follow @globalcompact on social media and go to unglobalcompact.Org
Accenture is a worldwide expert offerings agency with leading capabilities in digital, cloud and safety. Combining unrivaled revel in and specialised competencies throughout extra than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered thru the area’s biggest community of Advanced Technology and Intelligent Operations centers. Our 624,000 human beings supply at the promise of era and human ingenuity every day, serving customers in more than a hundred twenty worldwide locations. We embody the electricity of alternate to create rate and shared achievement for our customers, people, shareholders, partners and groups.
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