Organizations around the globe are making significant progress in both environmental and social sustainability, according to the latest survey from the Capgemini Research Institute. The comprehensive study involved 2,152 executives from 727 organizations, each with annual revenues exceeding $1 billion, spread across 13 countries. In addition, 6,500 consumers from these countries were surveyed to obtain a dual perspective on sustainability efforts.
The third edition of the “A World in Balance” series reveals notable advancements in various sustainability domains such as circularity, sustainable design, and water stewardship, among others. Despite these improvements, challenges persist, particularly with Scope 3 emissions and consumer engagement.
Key Findings from the 2024 Report:
- Regulatory Impact: Regulations are a significant driver of sustainability, with many organizations still adapting to upcoming mandates like the EU Corporate Sustainability Reporting Directive (CSRD).
- Progress Across Domains: There has been a marked improvement in recycling practices, product redesigns to eliminate fossil fuel dependencies, and the implementation of water stewardship programs. For instance, 72% of executives now consider recycling a core aspect of manufacturing, up from 53% in 2022.
- Challenges in Consumer Trust: There is a growing skepticism among consumers regarding the authenticity of corporate sustainability claims, with 52% believing that companies are engaging in greenwashing.
- Digital and Climate Technologies: Adoption of climate tech and digital solutions is seen as crucial for achieving sustainability goals. Two-thirds of executives believe that technologies like low-carbon hydrogen and industrial carbon capture are essential for reducing greenhouse gas emissions.
- Geopolitical Influences: Current geopolitical dynamics are perceived as slowing down sustainability investments, with 65% of executives noting a deceleration in their regions.
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This comprehensive report underscores the importance of continued regulatory adaptation, stakeholder engagement, and technological integration to navigate the complex landscape of global sustainability challenges. It calls for a strategic focus on both environmental and social aspects to achieve a more sustainable future effectively.
For a deeper dive into the findings and strategic recommendations of this report, view the full report here.
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