Onu 2

OPPORTUNITY
UNLOCKING
INITIATIVES FOR
BUSINESSES TO
BUILD RESILIENCE
CEOS WHO ARE EMBEDDING
SUSTAINABILITY ACROSS
THEIR BUSINESS WILL CHART
THE COURSE FOR A STRONGER
PRIVATE SECTOR
60 61
THE 12TH UNITED NATIONS GLOBAL COMPACT-ACCENTURE CEO STUDY
INGREDIENTS FOR SUSTAINABILITY IS THE KEY TO BUILDING BUSINESS RESILIENCE
AND UNLOCKING A NEW WAVE OF OPPORTUNITY
RESILIENCE Global challenges will continue and likely rise

in number and complexity in the years ahead.
Companies therefore need a strong foundation
as a society to take more aggressive actions
towards reaching the SDGs by 2030. To achieve
the Global Goals, CEOs recognize the importance
to survive and grow in these uncertain times of actionable, measurable steps for the Global
To build true resilience, CEOs must embed protections across their business – in their strategy, and weather the storm. By choosing to invest Goal’s achievement. As AIG, Inc.’s Chairman &
workforce, supply chains, and greater ecosystems. in sustainability, companies can build their own Chief Executive Officer, Peter Zaffino, describes,
resilience and agility to respond to upcoming, “With sustainability, it’s important to make
unknown challenges. This strategy is critical short-term and medium-term commitments in
for a company’s ability to thrive in a competitive addition to having long-term goals. Setting 2050
environment. As Rob Fauber, President and Chief objectives is great, but if there’s no measurement
Executive Office of Moody’s, states, “Building a between now and then, are they really that
resilient business means embedding responsible meaningful?” Taking these steps towards the
WORKFORCE & SUPPLY CHAIN ECOSYSTEM and sustainable decision-making across our firm.” SDGs will allow CEOs to build resilience in the
STRATEGY
ORGANIZATION & DATA MANAGEMENT short-term, and the achievement of the SDGs
Adopting sustainability, however, moves beyond will ensure a more resilient future.
just building resilience. It offers opportunities
for industry transformation, business INGREDIENTS OF RESILIENCE
competitiveness, and new growth. Redefining
ADVANCE THE
supply chains, rethinking production, and Based on the insights of over 2,600 CEOs,
ADOPT INVEST IN THE reimagining core business offerings catalyzes
SUSTAINABLE MENTAL AND
COLLECTION OF ENGAGE IN one theme came through clearer than any:
STANDARDIZED, STRATEGIC innovation, allowing companies who successfully ambitious commitments to the SDGs are a
BUSINESS PHYSICAL HEALTH
HIGH-QUALITY PARTNERSHIPS
MODELS OF EMPLOYEES
DATA
embrace sustainability to gain a competitive great first step, but now is the time to focus on
edge. As Alan Jope, Unilever’s Chief Executive how we achieve them and build resilience to the
Officer, shares, “In this decisive decade, we are complex slate of challenges the private sector
redoubling our efforts on sustainability rather must navigate. This research yielded a set of
than backing down.” core initiatives CEOs should look to embed
ESTABLISH ADVOCATE FOR
AMBITIOUS, BUILD AND ENGAGE ENHANCE SUPPLY STRONG across the strategy, workforce, supply chain,
SCIENCE-BASED A REPRESENTATIVE CHAIN VISIBILITY SUSTAINABILITY Embedding sustainability helps build a more and greater ecosystem of their business that
CLIMATE TARGETS WORKFORCE AND ENGAGEMENT AND RESILIENCE
POLICY resilient private sector, which is required for us are critical to building resilience.
UPSKILL AND/OR APPLY ANALYTICS-

ADOPT A
RESKILL YOUR DRIVEN SCENARIO
NATURE-POSITIVE
WORKFORCE FOR PLANNING IN
BUSINESS
THE GREEN BUSINESS
STRATEGY
TRANSITION PROCESSES
ALIGN LEADERSHIP ACCELERATE

INCLUDE ESG INCENTIVES TO EMBED ADOPTION OF
IMPACTS IN SUSTAINABILITY- SUSTAINABILITY RENEWABLE ENERGY
INVESTMENT BASED VALUES CRITERIA INTO R&D TO SECURE YOUR
DECISIONS AND OUTCOMES ENERGY SUPPLY
62 63
STRATEGY
ADOPT SUSTAINABLE ESTABLISH AMBITIOUS, SCIENCE- ADOPT A NATURE-POSITIVE President, CEO, and Representative Director of
BUSINESS MODELS BASED CLIMATE TARGETS BUSINESS STRATEGY Asahi Group Holdings, Ltd., states, “As a group
of companies that operates businesses using
To embed sustainability into their core strategy, In our 2021 CEO Study, Climate Leadership in While biodiversity has been overlooked on the blessings of nature, including water and
CEOs are adopting sustainable business the Eleventh Hour, 57% of CEOs felt they were the CEO agenda, leading CEOs are taking agricultural products, we at Asahi show
models to transform their businesses for long- making sufficient efforts to limit the global rise sustainable business models to the next level sensitivity to biodiversity. Now that the TNFD
term growth. As CEO of Aena, Maurici Lucena in temperature to 1.5°C above pre-industrial by championing nature-positive strategies. framework has been put in place, we are working
Betriu, explains, “Being part of the sustainable levels. Yet only 2% of those same CEOs had a Leading examples holistically account for a to assess our impact on biodiversity to accelerate
transformation is now necessary. Due to validated target in line with the Science-Based business’ potential impacts on biodiversity. our efforts. However, biodiversity protection is
regulations, as well as the science of climate Targets Initiative (SBTi). As Lucara Diamond Most CEOs (80%) currently feel that they have something individual companies cannot do alone
change, we know we need to be a reliable Corp President and Chief Executive Officer, a strong understanding of how their business – we must work together as a whole industry and
company for our clients and customers.” Eira Thomas, shares, “It’s easy to talk about impacts biodiversity, and 72% of CEOs say that as whole society.”
your ambitions, but it’s much more difficult to they understand how to leverage nature-based
More than half of the CEOS (63%) are launching put in place tangible, achievable targets and solutions within their company. However, only
new products and service offerings for sustainability. programs that are realistic when it comes to 35% of CEOs are initiating nature protection and/
INCLUDE ESG IMPACTS IN
Embracing sustainability is therefore not only balancing sustainable development with other or restoration projects, indicating that this is a
INVESTMENT DECISIONS
spurring innovation, but also helping open new company priorities.” high-growth space. Adopting a systems-thinking
markets and attract or retain customers. approach that looks at relationships rather To ensure that investment decisions are
To maintain a competitive edge and stay ahead than components across an ecosystem helps made with long-term value in mind, CEOs
Other CEOs are making more transformative of regulations and industry norms, business companies understand their holistic impact and are reassessing how they evaluate capital
changes, transitioning to circular business leaders must adopt sustainability targets aligned encourages long-term strategic planning. allocations. In particular, leading CEOs are
models (49%). There are significant efficiency with the SBTi. SBTi reports that 35% of CEOs Embracing a nature-positive business strategy going beyond economic returns, and embedding
gains that come with a transition to a circular agree that setting science-based targets helps helps companies proactively address risks, ESG criteria in their investment decisions
economy, with the United Nations Industrial companies increase resilience against upcoming evaluate their overall impact, and often to deliver broader societal value from their
Development Organization (UNIDO) estimating regulation.24 Furthermore, 55% of CEOs share encourages collaboration with other industry capital. As Atsushi Katsuki, President, CEO, and
that by 2025, around $1 trillion could be saved they’ve gained competitive advantages from and government partners. As Keiichi Iwata, Representative Director of Asahi Group Holdings,
in materials under circular business models.23 setting science-based targets.25 Going through Representative Director & President of Ltd., states, “One way of building resilience is
Not only do these circular models reduce this rigorous process ensures companies are Sumitomo Chemical Company Ltd., says, evaluating investments in a new way – not just
waste flows, but they also increase businesses’ taking the time to think about their holistic “Nature positive is a concept or approach that the profit or cost reduction potential, but the
resilience to supply chain shocks through reducing impact, track and gather data, and set a plan encompasses carbon neutrality. Mitigating and value it provides for society and sustainability.”
their dependence on limited raw materials. in motion to reduce emissions aligned with the reversing the loss of the components of nature, Some CEOs are embedding this ESG mindset in
1.5°C target, helping them craft their overall such as air, water and soil, is a pressing issue internal projects – from developing sustainable
New, sustainable business models will sustainability strategy. faced by humanity, and we should meet this products, to modernizing factories, to acquiring
also facilitate structural transformation, challenge head-on, placing utmost and equal talent. In addition, some CEOs considering
creating jobs in resource recovery, repair, and importance on each of those components.” mergers & acquisitions (M&A) are integrating
remanufacturing. However, it is equally important ESG criteria into their due diligence process – a
to ensure workers share in the benefits of these Recently, the Taskforce on Nature-related lever companies can use to acquire the skills,
sustainable models, with an emphasis on living Financial Disclosures pilot program has launched products, and services they need to build a
wages and sustainable skills. with 23 member companies. The hope is that this sustainable future. Consequently, CEOs can
standard can set the tone and assist companies ensure all ventures have net-neutral or positive
in measuring and curbing their impacts on sustainability impacts, thereby proactively
nature, and drive further uptake of nature- mitigating risks and building a compelling case
positive business strategies. As Atsushi Katsuki, for investment decisions.
23. United Nations (2021) The circular economy, cooperatives and the social and solidarity economy.
64 24. Science Based Targets (2018) Six business benefits of setting science-based targets. 25. Ibid. 65
Case Study
ECOLAB WORKFORCE & ORGANIZATION
Leveraging technology and
expertise to enable circularity INVEST IN THE MENTAL AND UN Global Compact annual survey, 83% of
PHYSICAL HEALTH OF EMPLOYEES companies surveyed noted that gender equality
Ecolab, the global leader in water, hygiene, Part of building a resilient workforce today was embedded in their corporate sustainability
and infection prevention solutions and services, is addressing the mental and physical health strategy. Rohit Kapoor, Vice Chairman & CEO
is helping companies leverage the power of needs of employees. More than half (58%) of of EXL, shares, “The more diverse candidates
water to respond to climate change, water CEOs are offering physical and/or mental health we can attract, the more we are seen as a good
scarcity and the energy crisis, while also resources to their workforce in response to home for diverse candidates.”
advancing sustainable profitable growth. global challenges, with this number increasing
to 71% for CEOs of large companies. As Royal Attracting and engaging a representative
Water must be moved, heated, cooled and DSM’s Co-CEO and Member of the Managing workforce also helps build ties with the
treated to be fit for commercial use, all of Board, Geraldine Matchett, says, “We prioritized community, which contributes to resilience in
which require energy. Ecolab Water for physical safety and resilience. However, we now the long run. As Viviane Martins, CEO at Falconi,
Climate™ is a program that helps companies realize that we need to also look at psychological says, “Not only do our team members expect us
save water and energy—ultimately reducing safety and mental resilience. Strategies beyond to do concrete things to improve our diversity and
greenhouse gas emissions and costs. the regular inclusion and diversity agenda are inclusion polices and plans, but our customers
The program provides holistic solutions needed to remain resilient.” expect this as well. The people we are recruiting
including auditing, consulting, engineering, also look to our practices and our diversity and
advanced chemistries and digital technologies Taking these actions not only strengthens the inclusion (D&I) policies.”
that support water reduction, re-use, and current employee base, but also helps attract
recycling strategies across an enterprise. top-tier talent in today’s discerning market. To fully benefit from having a diverse workforce,
Carlos Roberto Rojas Aboumrad, CEO of Grupo leaders must also be willing to adopt an open
By gathering data, improving water use and Rotoplas S.A.B. de C.V., adds, “Today, it’s very mindset, embracing ideas regardless of origin,
quantifying the impact on energy, greenhouse important to consider the wellbeing of your especially when it comes to sustainability. As
gas emissions and the bottom line, Ecolab workforce, which requires a lot of empathy Lorenzo Simonelli, Chairman & CEO of Baker
customers can advance their climate and from leadership.” Hughes, notes, “As a CEO, as a leader, one of your
business goals all at once. In fact, Ecolab key traits must be a willingness to learn, and be
has helped many companies achieve their BUILD AND ENGAGE A open to feedback. And sustainability is one of the
net zero goals through more efficient water REPRESENTATIVE WORKFORCE key areas that you have to learn about these days,
management, saving 215 billion gallons and you have to be open to the feedback.” Noke
of water and 3.6 million metric tons of Building a representative workforce, inclusive of Kiroyan Executive Chairman & Chief Consultant
greenhouse gas emissions last year alone. different genders, ethnicities, and backgrounds, of PT Komunikasi Kinerja (Kiroyan Partners),
is key for companies to attract the best talent adds, “We have to constantly listen to what our
as well as cultivate the most innovative ideas. team members say. A company that imposes
However, recruiting a diverse workforce is top-down measures is doomed to fail.” This
not enough – companies must engage their learning mindset and open communication is
employees in problem-solving and solutions, to not only key for innovation, but also resilience.
reap the benefits of having diverse experiences As Marika Lulay, CEO of GFT Technologies SE,
and thoughts at the table. In our 2021 CEO shares, “Including employees in conversations is a
Study, Climate Leadership in the Eleventh Hour, matter of resilience. Leadership cannot anticipate
76% of CEOs said that they were building a everything: therefore, by including employees,
representative workforce in the communities you strengthen your ability to brainstorm and
where they operate. Furthermore, in this year’s identify promising ideas and potential risks.”
66 67
Case Study UPSKILL AND RESKILL YOUR WORKFORCE Case Study
FOR THE GREEN TRANSITION
ENEL APRIL GROUP
Upskilling and reskilling their workforce are primary
Just Transition in Energy actions CEOs are taking to build resilience (74%). Workforce Sustainability Education
With industry shifts, digitalization, and rapidly changing
workforces, companies need to invest in their people.
Enel, the Italian energy provider, To create strong company alignment to a
This can benefit companies by (1) helping current
is a leader in the renewable energy values-based culture, Singapore-headquartered
employees stay competitive and valuable, (2) attracting
transition, and is advocating for this forestry and paper company APRIL,
high-quality employees looking to continue to build their
transition to happen in a just and engages all levels of their workforce in their
own skill sets, and (3) educating the future generation of
equitable manner for their workforce. sustainability commitments, not only those
the workforce to ensure the skills needed for the future.
As the ILO defines it, the just transition in the boardroom. Before setting its 2030
As Takeshi Niinami, Chief Executive Officer of Suntory
refers to “greening the economy in commitments and targets (APRIL 2030),
Holdings Limited, puts it, “The most important thing a
a way that is as fair and inclusive as the company ran a series of workshops
workforce needs to build resilience is high quality training
possible to everyone concerned, while with management teams focused on
programs, to adapt to future markets and increase digital
creating decent work opportunities.” determining ambitious targets to ensure
skill knowledge for greater innovation and efficiency.”
buy-in. This process helped educate the teams
Enel, in their transition to producing on how sustainability targets could sustain
With sustainability also being a top priority for
renewable energy, embarked on the and even improve business performance and
CEOs, it is important that part of the upskilling and
challenge of gradually shutting down helped recognize the contribution APRIL 2030
reskilling process includes educating the workforce on
its coal power plants and replacing makes to the SDGs.
sustainability and equipping them with the skills needed
them with renewables. Instead of
for a green transition. As CEO of BDR Thermea Bertrand
leaving their coal workers by the Change sentence to: APRIL completed
Schmitt, shares, “Unless we have sufficient HVAC
wayside, they rethought how the workshops over 18 months, involving
installers with the right skills, the energy transition in
transition to a decarbonized economy managers and their teams across the
heating isn’t going to happen. The first step is upskilling
will be offset by new opportunities for organization, to understand joint aspirations
HVAC installers so that they’re able to do the work
employment and for the requalification and innovate actions to achieve the firm’s
that’s required. The second step is making the job more
of various sectors of society. Enel 18 ambitious targets, designed to have a
attractive for young people.”
reskilled the workforce from these positive impact on climate, nature, and people
historic coal plants, ensuring that their by 2030. This included the identification of
business maintained a strong culture ALIGN LEADERSHIP INCENTIVES champions to own each commitment and
and continuity, always committed to TO SUSTAINABILITY-BASED related targets. The company continues
implementing reskilling programs VALUES AND OUTCOMES to track and demonstrate its performance
during the transition. against the targets as part of its commitment
Sustainability needs to be one of the core values of to transparency and disclosure, supported by
a company today, and leaders need to reflect those cascaded awareness-driven communications.
company values – including sustainability. Already
98% of CEOs feel that it is their role to make their In these ways, strong company alignment
business more sustainable. To ensure that leaders are to a value-driven culture breeds resilience,
not only advocating for sustainability, but also taking with positive company change stemming from
the necessary actions to achieve concrete progress, employees who are motivated by purpose.
CEOs recommend tying leadership incentives – such
as bonus payments and promotions – to sustainability
objectives and outcomes. Al Monaco, President, Chief
Executive Officer and Director of Enbridge, Inc., says,
“At Enbridge we’ve tied our sustainability objectives and
priorities to compensation across the entire organization,
demonstrating our commitment and accountability to what
we believe in and the value of all Enbridge employees.”
68 69
SUPPLY CHAIN & DATA
ADVANCE THE COLLECTION OF ENHANCE SUPPLY CHAIN VISIBILITY

STANDARDIZED, HIGH-QUALITY DATA AND ENGAGEMENT
CEOs call for all companies to invest in the Building on strengthening a company’s data
collection and standardization of data to enable strategy, CEOs want greater visibility into
visibility into their business and unlock the value their supply chain to help overcome current
of data-driven decision making. Nearly three challenges and better prepare for future ones.
fourths (72%) of CEOs are already digitizing Already, 54% of CEOs are strengthening visibility
their business, with 55% of CEOs enhancing into the social impacts of their company’s
sustainability data collection capabilities supply chain, as CEOs recognize the importance
specifically across their supply chain to of a human-rights based approach to building
build resilience. President and CEO of S&P resilience. Taking action helps businesses
Global, Douglas L. Peterson, notes, “The most (1) map their supplier network, (2) identify social
important competitive advantage in business, and environmental impacts and risks, and
and specifically ESG reporting right now, is (3) identify geographic and resource risks.
having access to high-quality, consistent data.” Greater visibility also helps companies collaborate
Chief Sustainability Officer of Asia Pulp & Paper across their supply chain, empowering them
(APP) Sinar Mas, Bernard Tan, expands, to make more sustainable and economical
“Data is key to tracking progress and decisions. System Bolaget CEO Ann Carlson
empowering leaders.” notes, “We have to be better about using the
technology that exists. We have the technology,
Having a single source of truth is crucial for we just don’t implement it. When it comes
empowering CEOs to monitor data and KPIs, to transparency and traceability of quality
identify opportunities and vulnerabilities, and and sustainability data connected to a single
properly report progress to stakeholders. product, better data management could enable
As Gagandeep Bhullar, Founder & CEO of us to collaborate more closely with suppliers
SuperHuman Race, remarks, “Technology does and make better decisions, using data more
not look at human stories, it looks at data. efficiently and effectively.”
Organizations often use stories to show their
impact, but that only leads to anecdotal impact. Greater visibility also helps CEOs decide where
To really address systemic inequalities, we need to dedicate limited time and resources to build
data analysis, thoughtful understanding of key resilience, such as strategically introducing
problems, and scalable solutions to cover redundancy and potential regionalization at
larger populations.” the greatest points of impact. To date, 37% of
CEOs are already duplicating and diversifying
their supply chains to strengthen their agility.
CEO of Physical Risk Solutions, Richard Wilson,
describes, “To build resilience, we must have
a strong knowledge of existing threats, put
mitigation plans in place, and build local
relationships with companies and communities.”
70 71
Case Study APPLY ANALYTICS-DRIVEN SCENARIO keen to see more R&D into creating lower-carbon Case Study
PLANNING INTO BUSINESS PROCESSES materials to reduce industry emissions.”
BRISTOL MEYERS SQUIBB VERIZON
Geopolitics, trade regulations, climate change For CEOs to maximize the benefits of sustainable
R&D with a Focus on Equity and weather events are increasing the range R&D, however, they will need to assess their full Renewables in Telecommunications
and ambiguity of possible scenarios, driving
value chain from a sustainability perspective,
CEOs to adopt analytics-driven scenario
Bristol Myers Squibb (BMS), an American not only their material sourcing and production. To help meet its climate-related
planning to prepare for the future. Currently,
multinational pharmaceutical company, Leading CEOs are looking to reduce the footprint commitments and facilitate the transition
62% of CEOs are strengthening their scenario
is committed to addressing inequity in of their products across the lifecycle including to a greener grid, Verizon, the global
planning and analysis capabilities, with a split of
healthcare, through providing equitable procurement, manufacturing, distribution, telecommunications company, embarked on
57% for CEOs of SMEs and 69% of CEOs from
access to medicines. For example, in product use, and reverse logistics phases. an ambitious renewable energy purchase
larger companies.
2020, BMS pledged to locate at least Malek Sukkar, CEO of Averda, shares, “There program and has become a leading corporate
As Alejandro Carrill, CEO of Masisa says, “In the
25% of US sites participating in new BMS is a transformation happening in materials. buyer of U.S. renewable energy. Verizon has
new norm, we need to perform more proactive
clinical trials in racially and ethnically We cannot treat materials the same way. We will entered into more than 20 renewable energy
risk analysis and learn quickly from our mistakes
diverse metro areas. By the end of 2021, have to look at how we can reuse materials at purchase agreements (REPAs). Verizon’s
to empower our people to make decisions faster.”
the company exceeded its goal, locating every stage of the journey.” With the full product REPAs are long-term virtual power purchase
54% of US clinical trial sites in highly lifecycle in mind, companies may explore paths agreements and generally are expected to
This serves the dual purpose of both helping
diverse communities. Ensuring diversity of such as refurbishing, reusing, and product sharing help finance the development of new third-
CEOs prepare for potential scenarios, but also
clinical trials enables underrepresented models, which can reduce resource intensive party solar and wind facilities. The facilities
communities to participate in the test the potential benefits and repercussions of associated with Verizon’s REPAs span 12
different courses of action. For more advanced manufacturing activities and dependence on virgin
development of critical and potentially raw materials. This wider scope of assessment states and have a projected aggregate
life-saving medicines, increasing healthcare analysis, 17% of CEOs are implementing artificial capacity of approximately 2.8 GW.
intelligence for real-time risk analysis, with further opens the door for innovation, as companies
accessibility and equity by helping address can iterate throughout the entire process.
blind spots in the health system.1 the financial services and high-tech industries
Funding for these agreements is substantially
leading the trend (28% each).
ACCELERATE ADOPTION OF supported by Verizon’s USD 4 billion green
Furthermore, the Bristol Myers Squibb RENEWABLE ENERGY TO SECURE bond program, which is one of the largest
President of CTC Group [The Central Trading
Foundation, an independent charitable YOUR ENERGY SUPPLY among corporate issuers in the USD market.
Company], Ahmed Abdellatif, shares, “We need
organization, started a trailblazing program The program operates in accordance with
stronger planning tools and analysis. We need
committed to training at least 250 clinical With cutting carbon emissions at the center of Verizon’s Green Financing Framework that
models that show, over a longer timeline, what is
trial investigators who are diverse and/ many sustainability plans, CEOs need to also aligns with internationally recognized green
the impact you can have and how you are driving
or committed to increasing diversity in secure green sources of energy and ensure financing principles and advances relevant
towards it. That will help drive sustainability
clinical trials in partnership with the the sustainability of their energy supply chain. U.N. Sustainable Development Goals. Verizon
implementation and building resilience.”
Virginia Commonwealth University and the Renewable energy generation is a promising has fully allocated the net proceeds from
American Association for Cancer Research solution, both offering affordable energy the first USD 3 billion of issuances primarily
(AACR) – a $100+ million dollar investment EMBED SUSTAINABILITY CRITERIA to finance REPAs for new renewable energy
and removing dependence on fossil fuels – a
over five years.2 INTO RESEARCH & DEVELOPMENT projects and provided related impact reporting.
volatile commodity in regard to pricing. As
Research & development (R&D) is a clear driver Arturo Gonzalo Aizpiri, Chief Executive Officer
1. https://www.bms.com/life-and-science/news-and-perspectives/
fulfilling-out-role-in-increasing-clinical-trial-diversity.html of growth and innovation in any company. It of Enagas, comments, “Security of supply and Verizon’s REPAs position it to achieve its
2. https://news.bms.com/news/philanthropy/2022/The-Robert- is therefore imperative that sustainability is decarbonization are two sides of the same coin.” goal to source or generate renewable
A.-Winn-Diversity-in-Clinical-Trials-Award-Program-Announces- energy equivalent to 50% of its total annual
the-Second-Group-of-Physicians-to-be-Trained-in-the-114-Million- embedded in R&D criteria, to ensure all new
Program/default.aspx innovations, as well as updates to existing CEOs recognize this promising opportunity, with electricity consumption by 2025.
products, have sustainability at their core. Already, 49% of CEOs investing in renewable energy sources
40% of CEOs are increasing their R&D funding for to reduce dependency on fossil fuels. Fleetwood
sustainable innovation, with the automotive and Grobler, Executive Director and President and CEO
chemical industries leading (58% agree in both). of Sasol, states, “At the heart of our pivot away
As CEO & Managing Director of Mirvac, Susan from carbon-intensive fossil fuels is the advent of
Lloyd-Hurwitz, elaborates: “We would like to see economically viable sustainable energy sources.
sustainability requirements driving research and We can now rely on renewables to produce the
development and innovation. For example, we are same products in a more sustainable way.”
72 73
ECOSYSTEM ENGAGEMENT
ENGAGE IN STRATEGIC ADVOCATE FOR STRONGER

PARTNERSHIPS SUSTAINABILITY AND
RESILIENCE POLICY
Companies are engaging in collaborative
partnerships within their industry, across other To fully live up to their company’s values, CEOs
industries, as well as throughout their entire must also take the lead in advocating for policies
supply chain. Already 66% of CEOs are engaging that align with their values and encourage
in long-term strategic partnerships, with SMEs26 sustainable development. The majority (87%)
engaging in partnerships most to build resilience of CEOs feel they need greater government
(69% engage relative to the 62% of large support to build a more resilient business. Yet, in
companies).27 Richard Wilson, CEO of Physical Risk areas including corruption, climate change,
Solutions, explains: “As a SME, the relationships warfare, and refugee crises, where the private
we build within our network is key for our sector requires government intervention to make
survival and resilience.” meaningful progress, it is equally necessary
for business leaders to advocate for what they
Businesses also need to increase their believe in to help where governments should
engagement with competitors and industry focus their attention. Margaret Michaels, Founder
partners to foster a collaborative environment of Ezra Joel Group Corporation, notes, “If we
that enables innovation and the sharing of come together, set aside our differences, and
ideas, especially when it comes to addressing allow common sense to prevail, we can solve
sustainability and building resilience for the the problems we’ve created.”
private sector. Companies are recognizing that
joint collaboration can unlock unprecedented Often industry consortiums and international
value that is not possible when operating in governing bodies like the United Nations can play
silos. As South East Water (Australia) Managing an intermediary role, translating business asks to
Director, Lara Olsen, says, “Industry associations government officials. Engaging in these forums
and partnerships are key for gaining access will allow for more nuanced policy discussions
to pockets of innovation.” Mary Barra, General and greater, more effective collaboration. The private
Motors Chair and Chief Executive Officer, and public sectors must operate in lock step
expands, “We can’t make this transition on to build a world where we have a chance at
our own. We need to work very closely with achieving the SDGs.
governments and policymakers to ensure that
we are coming up with solutions that are not just
good for the businesses, but also for the people,
the country, and the environment.”
26. Defined as companies with less than USD 25 million in annual revenue.
74 27. Defined as companies with greater than USD 1 billion in annual revenue. 75
THE ROAD
TO 2030
BUSINESSES
ASKS OF
POLICYMAKERS
76 77
“I believe the market plays an
ASKS OF POLICYMAKERS
important role that is often overlooked.
ROAD TO 2030: BUSINESS ASKS Government needs to set the boundaries
OF POLICYMAKERS and allow the private sector to work
within those rules, so that the best
solution comes forward.”
The voice of private sector CEOs is clear –
CEOs are calling on governments to support and enable the private sector to achieve ambitious government must establish a transparent, Ronald Wuijster,
sustainability targets. equitable, and actionable playing field in which Executive Board Member of APG Group NV and
Chief Executive Officer APG Asset Management
businesses can take the reins and innovate.
Without collaboration between the public
sector, private sector, international governing
organizations, and NGOs, the hope of making “If you’re following good governance,
any type of meaningful progress toward the you will be more environmentally
SDGs will almost certainly be lost. CEO of MK conscious and that will motivate you to
ALIGN NDCS address critical issues and deliver on
AT 1.5°C Partners Inc., Matt Kaufman, notes “I want more
accountability. I want regulation. I want the your purpose commitments. But right
pressure to have businesses report on how we now, the G in ESG is overlooked. So, until
PROVIDE EDUCATION COOPERATE
the time we sort out the governance
& FINANCING ON CARBON are meeting our goals regularly to hold
FOR SMES PRICING part, the rest will not get resolved.”
us accountable.”
Nitin Mantri,
While there is significant progress to be made, Group CEO of Avian WE
the European Union (EU) is serving as a guiding
light for how clear policy objectives can spur
private sector action. Through the recently “We need more effective roundtables
SUPPORT
POLICY FOR
REALIZE A released Taxonomy Regulation, experts hope that are held accountable. The UN and
BIODIVERSITY that investment will be accelerated massively
A JUST
FRAMEWORK
other global organizations need to help
TRANSITION into climate action to support the transformation keep companies accountable.”
of the EU economy to meet its European Green
Francisco Estupiñán,
Deal objectives. The Taxonomy outlines six core
ASKS OF objectives: (1) climate change mitigation, (2)
CEO Fexlaw Lawyers
POLICYMAKERS
climate change adaptation, (3) sustainable use
and protection of water and marine resources,
(4) transition to a circular economy, (5) pollution “We are moving towards a global
prevention and control, and (6) protection and context in which strong public-private
INVEST IN policy networks are big contributors to
SUSTAINABLE
ACTION ON restoration of biodiversity and ecosystems.28
ADAPTION Through this ambitious framework, a common a more resilient world that is prepared
BASIC
FINANCING for an uncertain future. The private
INFRASTRUCTURE language has been established between
sector must lend its expertise to help
investors, policymakers, and business leaders. the public sector shape policy.”
This helps investors to assess the alignment
of their investments to robust climate plans Arturo Gonzalo Aizpiri,
and targets. Chief Executive Officer of Enagas
ALIGN
ENABLE THE REGULATORY While it is true that some countries have
CIRCULAR SYSTEMS TO FOSTER adopted new regulations and are investing in a “As regulations and governmental
ECONOMY INNOVATION sustainable future, outcomes from COP27 show policies shift, it is paramount that
STANDARDIZE that we still have a long way to go. Building on businesses worldwide come together
ESG REPORTING
FRAMEWORKS
the policymaker asks of the 2021 CEO Study, to help each other thrive. If we come
we have refreshed CEOs asks for policymakers together and collectively address
to advance resilience and sustainability in policymakers, we will be able to drive
today’s climate. positive change.”
Margaret Michaels,
Founder of Ezra Joel Group Corporation
78 28. Principles for Responsible Investment (2022) EU Taxonomy. 79

ALIGN NATIONALLY DETERMINED sustainable action through market methods. Case Study
CONTRIBUTIONS (NDCS) TO A 1.5°C As Ana Botin, CEO of Banco Santander, states,
WARMING TRAJECTORY “If we want habits, decisions to be changed, IBERDROLA
we need to change incentives, pricing and
The ambition of global climate pledges needs to signals to the market.” Birds, Biodiversity and Wind Energy
be raised. At today’s level of commitment, the
world is on track to increase temperatures 2.5°C
REALIZE A GLOBAL BIODIVERSITY Iberdrola, the Spanish renewable energy company,
above industrial levels by the end of the century,
FRAMEWORK THAT SETS AMBITIOUS has announced a new objective of achieving a
which could have disastrous repercussions. CEOs
TARGETS TO HALT BIODIVERSITY LOSS net positive impact on biodiversity by 2030.
are therefore demanding more from governments,
They are applying a comprehensive approach to
asking them to align NDCs to the 1.5°C targets. The majority of CEOs (80%) recognize that their new infrastructure construction, and integrating
business impacts biodiversity, yet only 35% nature considerations into the impact assessment
Over 70 countries have pledged to reach net zero are initiating nature protection and restoration of new projects moving forward.
emissions, including some of the world’s largest projects in response to global challenges. As Bank
emitters – such as the United States, China, and al Etihad CEO, Nadia Al Saeed, says, “Loss of
As a leader in offshore and onshore wind
the European Union – amounting to approximately biodiversity is an economic and financial risk.
development, Iberdrola is focusing on its
76% of global emissions.29 Despite these pledges, They both depend on the ecosystem services
impact on birds and bats for all projects moving
few governments have solidified NDCs that are provided by biodiversity and the environment.
forward. By adopting more ambitious monitoring
ambitious enough to make a 1.5 C future a reality. In turn, our investment decisions affect the
programs, Iberdrola is able to better understand
Recognizing this gap at COP26, the Glasgow biodiversity around us, and more companies
how different species are interacting with their
Climate Pact called on countries to strengthen need to adopt that lens when making
assets. They are also looking to improve these
their NDCs when returning the following year investment decisions.”
monitoring systems, exploring how to deploy the
to COP27. This effort fell short, however, with
latest available technology and invest in emerging
only 24 new or updated climate plans at COP27, CEO inaction can be traced back to the
solutions, such as pairing cameras and radar with
a strong contrast to the 163 countries offering uncertainty around the biodiversity business case
AI, aerial monitoring, and GPS technology.
no updated target. This highlights the need for as well as how to measure biodiversity impacts
governments to take bold action and strengthen and actions. As Representative Director and
their NDCs immediately. As an example, in their wind farm in Southern
President of Nippon Koei Co., Ltd., Hiroaki Shinya,
California, Iberdrola has implemented geofencing
says, “Regarding biodiversity, there is no definite
COOPERATE TO ESTABLISH technology to monitor the risks to the California
as well as universally (commonly) accepted
A GLOBAL CARBON PRICE condor. A majority of condors in the southern
criteria yet for judging which direction to proceed
California population have been equipped with
for maintaining/conserving diversity. Therefore,
CEOs consistently note that without a common, I feel that the majority of companies are still not
radio frequency and GPS technologies to track
equal set of standards, the world will never be sure how to act in relation to biodiversity.”
their movements. When a condor fitted with a
able to achieve the Global Goals, and climate transmitter crosses the geofence boundary,
impacts will continue to intensify. Alexandre While the Taskforce on Nature-related Financial
a third party remotely supervising the condor’s
Ricard, Chairman & Chief Executive Officer Disclosures (TNFD) is a start, there is a need movements notifies the Avangrid Renewables
of Pernod Ricard, explains, “We have a basic for a globally accepted standard, supported National Control Center and by tracking the birds’
sustainability framework globally, but the playing by governments, to kickstart company action flight trajectory can decide to stop a particular
field is not level still. We have work to do.” on biodiversity conservation. Fortunately, at wind turbine to avoid a possible collision.
COP15, nearly 190 countries approved a new Furthermore, Iberdrola looks to shutdown energy
To encourage global action – and accountability United Nations agreement to prevent further generation in certain hours when bats are active to
– on carbon emissions, CEOs are requesting biodiversity loss. Among a suite of 23 measures avoid collisions. These measures not only protect
governments cooperate to establish a global to protect nature, the most notable is the 30x30 species, but also allows the company to better
carbon price. The International Monetary Fund target, which aims to safeguard 30% of the understand the ecosystem and how species interact
(IMF) notes, “An international floor price for world’s land and sea by the end of the decade. with its infrastructure. This information helps
carbon could speed the world’s transition to Though the agreements at COP15 are a step Iberdrola, in collaboration with conservation
green energy without compromising countries’ in the right direction for biodiversity protection, organizations, regional and national governments,
competitiveness.”30 This would ensure further government regulation is needed to and research institutions, develop better
equal impact across sectors, and encourage mobilize private sector contributions. mitigation tactics to protect biodiversity.
29. United Nations (2022) For a livable climate: Net-zero commitments must be backed by credible action
80 30. IMF (2022) Why Countries Must Cooperate on Carbon Prices 81
DELIVER ON THE COP26 GOAL TO stands at less than one-tenth of that amount.” In addition to removing harmful barriers, Foundation, sums it up, “We need to find a
DOUBLE INVESTMENT IN ADAPTATION Even with this drastic increase, financing must companies are calling on governments to take commonly accepted framework that works for
FINANCING FROM 2019 LEVELS BY 2025 go to the right sources to build a more resilient an active role in setting up incentive systems most people, otherwise all we will be doing
future. Accelerating adaption and resilience that support the development of sustainable is translating one framework and reporting
Companies around the world do not have equal finance is key to make sure that countries can practices and spur innovation, while allowing standard to another, wasting limited resources.”
access to finance that will help them achieve keep up with and protect themselves from the for the market to determine the best path for CEOs hope that these new standards will
their sustainability goals. In fact, 34% of CEOs in worst climate impacts. achieving the desired outcome. Incentivizing extend globally, not just to a country or region,
developing countries feel that a lack of financial programs like renewable energy infrastructure, to make sure that everyone is working towards
resources is a high impact barrier to building a disease discovery and prevention, sustainable the same goal. Luis Maroto, President and CEO
ALIGN INCENTIVE MECHANISMS
resilient business, relative to just 18% of CEOs AND REGULATORY SYSTEMS TO food systems, and water conservation will of Amadeus IT Group S.A., explains, “Uniform
of businesses in developed countries. Clearly, FOSTER INNOVATION drive towards delivery of a cleaner, more sustainability standards are necessary to
this financing gap must be addressed, otherwise, sustainable world. As Gimena Peña Malcampo, move everyone in the same direction. Different
even with action in the developed world, the Today’s regulatory system perpetuates old habits CEO of Pier 2 Marketing, explains, “I really think standards allow for different interpretations.
world will still experience significant climate and cycles, often prolonging existing problems that government encouraging businesses to To be able to keep everyone aligned and
impacts. However, the question is not purely by propagating harmful subsidies, such as those follow sustainability principles would make a accountable, we need one unified standard. The
about the amount of finance, but also where for fossil fuels, stifling innovation, creativity, and difference. A lot of organizations voluntarily do ideal scenario would be if governments released
the funds are flowing. progress. As Krishna Mohan Puvvada, Regional it because they are passionate about it. Even those global standards.” Sanjay Banka, Executive
President & Business Director, CB India of if the government cannot change laws and Chairman of Banka Bioloo Limited, adds, “There
To meet the COP26 goal of doubling investments Novozymes South Asia Pvt. Ltd., states, “We regulations in the short-term, creating incentives has to be standardization of standards – both
from 2019 levels by 2025 to help finance need to stop the subsidies of the past because to encourage behavior change is critical.” nationally and globally.” A standard framework
adaption, specifically from climate impacts and that is not our future. We need a future that would not only help companies clarify what
related effects, there need to be a significant is very different. It’s a paradigm shift that we STANDARDIZE SUSTAINABILITY data and KPIs to track themselves, but also
acceleration. The annual adaptation gap report need to make – governments, society, and other REPORTING FRAMEWORKS FOR increase transparency and ensure companies
just released by UN Environment Program stakeholders – so that we can work towards GLOBAL ACCOUNTABILITY are fairly evaluated on their performances. Pat
(UNEP) at COP27, estimates this gap to be this new future.” The IMF estimates that on McCafferty, Managing Director of Yarra Valley
USD 160 billion to USD 340 billion by the end our current trajectory, fossil fuel subsidies will Companies are finding that multiple Water Melbourne Australia, remarks, “What
of the decade, and up to USD 565 billion by increase to over USD 7 trillion by 2025,31 an sustainability frameworks are not only confusing, gets measured get done. Efficient measurement
2050. Secretary General Guterres reiterates, astronomic sum that remains one of the greatest but also taxing, as companies look to report and governance systems, holding countries and
“Adaptation needs in the developing world are financial barriers to the clean energy transition. information through multiple formats. Vaishali companies accountable, and providing roadmaps
set to skyrocket to as much as USD 340 billion It is therefore imperative that global governments Nigam Sinha, Chief Sustainability Officer of and progress reports will be key to unlocking the
a year by 2030. Yet adaptation support today remove harmful subsidies of fossil fuels and coal. ReNew Power & Founding Chair of ReNew change, pace, and scale we need.”
82 31. IMF (2022) Fossil Fuel Subsidies 83

Case Study
SASOL | AMEX GBT
Sustainable Aviation Fuel
Sustainable aviation fuel (SAF), made from American Express Global Business Travel
renewable energy and sustainable carbon (Amex GBT), together with Shell and
sources such as renewable biomass, waste Accenture, recently launched Avelia, one of the
resources and industrial carbon, has the world’s first blockchain-powered book-and-
potential to deliver the performance of claim digital platforms for SAF. Avelia is the
petroleum-based jet fuel, but with a fraction largest pilot at launch with one million gallons
of its carbon footprint. SAF could have a of SAF to start – a meaningful step in the right
massive impact on the future of transportation, direction for the industry. However, nearly 100
but significant investment, R&D, and innovation billion gallons of jet fuel were consumed in
are still required to make the widespread use 2019 (prior to pandemic), proving that progress
of SAF a reality. requires acceleration by all.
Sasol, the integrated energy and chemicals CEOs in the industry agree that government
company from South Africa, is investing further must step up to create the infrastructure
in catalyst research for production of SAF. for the SAF industry to take off. As Paul
According to Sasol’s Executive Director and Abbott, CEO of Amex GBT, notes: “Sustainable
President and CEO, Fleetwood Grobler, “Sasol’s technologies and innovations, such as
proprietary, commercially proven Fischer sustainable aviation fuels, are the only way
Tropsch technology, agnostic to the source of we can make significant progress. And that
the carbon or hydrogen, and our expertise in won’t happen unless there is massive
catalysts makes us the ideal partner to help the investment in infrastructure, primarily from
world decarbonise the aviation sector and make governments, to drive long-term structural
it sustainable over the long-term”. This process change.” Indeed, public-private-partnership
may eventually allow for sourcing of carbon is mission critical.
through direct air capture of CO2.
84 85
ENABLE THE CIRCULAR ECONOMY However, governments alone are not solely PROVIDE EDUCATION AND FINANCING
THROUGH ESTABLISHING STANDARDS responsible – businesses must be ready to do FOR SMALL AND MEDIUM-SIZED
FOR TRANSBOUNDARY MOVEMENT their part as well. President and CEO of S&P ENTERPRISES (SMES)
Global, Douglas L. Peterson, expresses, “We need
Businesses are increasingly trying to move to a more to see a much bigger emphasis on rebuilding, Business leaders are looking to governments
more circular business models to not only counter upgrading, and modernizing infrastructure, but to to support the private sector as a whole, not
current geopolitics, economic uncertainty, and increasing finance this, we’re going to need public-private only by engaging with the largest companies,
costs, but also proactively address future concerns, such partnerships – a combination of public sector but by supporting SMEs. CEOs of SMEs
as resource shortages or upcoming regulations. financing and private investment. feel that support has been limited: 82% of
SMEs32 feel that they need increased access
Governments are a key player in the circular transition to financial resources to build resilience
INCORPORATE WORKER AND
and have multiple levers to pull, including raising (relative to 72% of the largest companies), 33
COMMUNITY IMPACTS INTO POLICY
standards for recycling and repairing products, and 85% feel they need educational resources
DECISIONS
providing incentives for sustainable products and on business resilience (relative to 78% of
services, and removing regulatory barriers. As CEO To support business actions in the just transition, the largest companies). 34 As Krishna Mohan
of Braskem, Roberto Simões, says, “Support from CEOs are calling on governments to step up Puvvada, Regional President & Business
governments and international bodies in supporting and facilitate a just transition for the global Director, CB India of Novozymes South Asia
the circular economy and sustainability initiatives workforce. As Lucara Diamond Corp President Pvt. Ltd., explains, “The SMEs do not have the
is key to speeding up the implementation of strong and Chief Executive Officer, Eira Thomas, says, resources, and it becomes a responsibility
actions for carbon reduction.” “Companies need to design sustainability of industry bodies, governments, and trade
programs in collaboration with governments and associations to recognize that we need to
Specifically, CEOs are calling on governments to local communities to ensure they are working learn and develop a language where [SMEs]
develop standards for transboundary movement – the together to address their priorities and needs.” can connect with us. Today, the language
movement of products/waste products across country of sustainability is still quite complex and
or regional borders. Without internationally accepted A truly just transition can only be achieved with not everybody can understand it. If you’re
standards for transboundary movement, companies collaboration. Government, businesses, and able to translate sustainability into impact,
struggle with reclaiming their products, even if they workers must cooperate to ensure that, as the sustainability action into financial terms,
are designed to be circular. These regulations, while economy transitions to embrace renewables and articulate measurement criteria,
put in place to protect the public from toxic materials, and sustainability, the people currently sustainability starts to resonate a lot better.”
are having an unintended consequence of limiting the powering our economy are not left behind.
viability of a global, circular economy. CEOs highlight the criticality of the just Green Touches’ CEO, Adrienne Doolan,
transition being community and worker-led. concurs, “SMEs are the backbone of the
INVEST IN SUSTAINABLE BASIC Dr. Bisi Bright, CEO of LiveWell Initiative LWI, economy,” but currently they are at risk
INFRASTRUCTURE, INCLUDING ROADS, notes, “The problem with governments is that of being left out of the picture. Without
BRIDGES, AND ENERGY SYSTEMS people at the top often do not see the bottom SMEs, the SDGs will remain out of reach;
clearly. To include the people’s voice, there governments therefore need to prioritize
One of the most impactful levers that governments needs to be more collaboration between the assisting small and medium-sized business
can pull is investing in sustainable infrastructure. With leaders of communities and government, owners to incorporate sustainable practices
this investment in sustainable, equitable infrastructure, for example, through town hall meetings.” into their operations.
there is not only an opportunity to make a positive
environmental and social impact, but also the
possibility of creating new markets for sustainable
products, services, and processes. As Paul Abbott, CEO
of American Express Global Business Travel (Amex
GBT), says, “At the moment, sustainable technologies
and innovations, such as sustainable aviation fuels,
are the only way we can make significant progress.
And that won’t happen unless there is massive For more information on the role of business in ensuring a just transition, please refer to
infrastructure investment, primarily from governments, the United Nations Global Compact’s Introduction to a Just Transition Business Brief.
to drive long-term structural change.”
32. Defined as companies with less than USD 25 million in annual revenue. 33. Defined as companies with greater
86 than USD 1 billion in annual revenue. 34. Defined as companies with greater than USD 1 billion in annual revenue. 87
INSIGHTS
INDUSTRY
THE FUTURE OF
INDUSTRIES WILL BE
SHAPED BY CEOS’
ABILITY TO TRANSFORM
THEIR BUSINESSES
AND EMBRACE
SUSTAINABILITY
88 89
THE MOST PRESSING CHALLENGES AGRICULTURE CROSS INDUSTRY
1 CLIMATE CHANGE 2 INFLATION 3 TRADE REGULATION
AGRICULTURE
26% 2% 21%
59% 59% 57% 52%

33% 31%
Climate change, resource scarcity,

and land deterioration, coupled
with an increase in demand due CURRENT LANDSCAPE
to a rising population, creates TOP RESILIENCE ACTIONS FOR AGRICULTURE CEOS
a challenging environment for
agriculture CEOs to provide
affordable, high-quality food for
81% of CEOs are
upskilling or
reskilling their workforce for
73% of CEOs are
enhancing
sustainability data collection
73% of CEOs are
engaging in
long-term strategic
a growing world. Factors such the future labor market capabilities across their partnerships
value chains
as supply chain disruptions and
price volatility, exacerbated The agriculture industry operates on the front lines of the climate crisis, facing droughts, floods, and extreme weather patterns, along
by geopolitical tensions, are with biodiversity loss, arable land deterioration, and growing water scarcity. All these factors impact daily operations, not only damaging
crops, but also straining food system infrastructure. Agriculture CEOs are looking to technology to inform their decision making, starting
compounding the pressure, by focusing on digitization and real-time data collection to identify risks and be more efficient in their use of natural resources. As Sanjay
highlighting the need for a Gupta, MD, and CEO of National Commodities Management Services Limited describes, “Value chain concerns have been mitigated to
some extent by advancements in technologies, such as internet of things, drones, mobility, cloud computing, big data, remote sensing,
fundamental transformation machine learning and logistics in agriculture and agri-bots which are playing a transformative role in converting traditional agriculture
of the global food system. into data-driven, precision farming for generating sustainable profits.”
Connected technologies, such as drones or blockchain-based solutions, are transforming the industry to be able to react to impacts
in real time. However, for a large-scale transformation, companies are cognizant that they must upskill their workforce on these new
ways of working and engage with the smaller farmers who make up the majority of the supply chain. CEOs are, therefore, investing in
strengthening their partnerships with suppliers to enhance visibility and support the adoptions of digital and sustainable practices.
WHERE IS THE INDUSTRY GOING?
TOP SUSTAINABILITY PRIORITIES FOR AGRICULTURE CEOS
“The reality is we will have to produce

more food in the next 40 years than 56% of CEOs are
constructing
a responsible supply chain
48% of CEOs are
protecting and
restoring biodiversity
48% of CEOs are
lowering
GHG emissions
potentially the last 1,000 years,
which is an incredible challenge.”
The future of agriculture calls for healthier, sustainable practices that create more food to satisfy the needs of rising populations with
Juan Ricardo Luciano, less impact on the natural environment. While digital practices are a strong first step, a wide-scale transformation is needed. Bold
CEO of Archer Daniels Midland actions, such as adopting regenerative agriculture practices that take into consideration the entire ecosystem, are necessary to this
transformation. Regenerative practices not only reduce soil erosion and water usage, but also help protect and restore biodiversity.
TRANSFORMATIVE INNOVATIONS
Regenerative agriculture practices 75%
Seed technology 71%
Digital agriculture 67%
Advanced aquaculture 52%
Controlled environment agriculture 35%
HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT
90 91
THE MOST PRESSING CHALLENGES AUTOMOTIVE CROSS INDUSTRY
1 INFLATION & PRICE VOLATILITY 2 TALENT SCARCITY 3 THREATS TO PUBLIC HEALTH
11%
4% 4%
AUTOMOTIVE
68% 57% 46% 42% 44% 40%
Global decarbonization efforts,
fueled by climate change concerns
and fuel price changes, are
shaping the long-term outlook CURRENT LANDSCAPE
for the automotive industry.
While companies are struggling TOP RESILIENCE ACTIONS FOR AUTOMOTIVE CEOS
with logistics in the short term,
including price volatility, supply 78% of CEOs are
digitizing
business processes
76% of CEOs are
upskilling or
69% of CEOs are
enhancing
sustainability data
chain disruptions, and infrastructure
the future labor market collection capabilities
needs, they remain committed
to trends like electrification and
circular product management to The energy crisis, rising gas prices, limited access to materials such as nickel and lithium, coupled with consumer pressure to address
climate change and increasing restrictions from governments, is fueling change in the automotive industry. As a first step, CEOs are
unlock the green transition. looking to increase their digital and data capabilities to build a more resilient supply chain, as well as upskill their people to support a
just transition. Companies are also investing in affordable and accessible EV charging infrastructure. As Mary Barra, General Motors’
Chair and Chief Executive Officer, states, “We want to help make sure that the transition to a more sustainable economy is inclusive,
focusing especially on offering EVs across price points and segments, as well as convenient access to the charging infrastructure.”
Yet, they are calling on government to support the broad infrastructure investments needed. To truly transform, the automotive industry
will need to take an ecosystem approach, not only collaborating with governments, but also partnering with the utilities and energy
sectors to make EVs convenient and affordable for consumers.
TOP SUSTAINABILITY PRIORITIES FOR AUTOMOTIVE CEOS

“The automotive industry is
experiencing an irreversible trend
in electrification. This is key to 79% of CEOs are
upskilling their
workforce for the future
69% of CEOs are
prioritizing
lowering GHG emissions
59% of CEOs are
prioritizing
constructing a responsible
achieving a net zero economy. labor market supply chain
The magnitude of change
electrification brings may have
parallels drawn only to the In the future, sustainability in the automotive industry will go beyond switching from fossil-fuel engines to EVs, to addressing the entire
transition from horse-drawn lifecycle of a vehicle, from design and manufacturing through to end-of-life. Circular product management, supported by strong digital
and data management capabilities to enable traceability, is a promising solution for CEOs. It not only satisfies the growing focus on
carriages to internal combustion sustainability, but also addresses issues such as resource scarcity and price volatility of raw materials.
engines in the early 1900s.”
Girish Wagh,
Executive Director of Tata Motors Limited
Electrification 64%
Circular vehicle lifecycle management 63%
Software-connected vehicles 58%
Real-time supply chain data management 51%
92 93
THE MOST PRESSING CHALLENGES CHEMICALS CROSS INDUSTRY
1 INFLATION & PRICE VOLATILITY 2 TRADE REGULATION 3 CLIMATE CHANGE
8%
10% 7%
65% 57% 41% 31% 41% 34%
CHEMICALS
As a large emitter of greenhouse
gases, the chemical industry is
CURRENT LANDSCAPE
facing intense pressure to reduce
its environmental footprint. At the TOP RESILIENCE ACTIONS FOR CHEMICALS CEOS
same time, as an energy-intensive
industry, it is disproportionately
impacted by the volatility in the
79% of CEOs are
upskilling or
73% of CEOs are
engaging in
long-term strategic
69% of CEOs are
digitizing
business processes
the future labor market partnerships
energy and resources markets.
CEOs are, therefore, looking to
sustainable business models and Digitization, new technologies, and innovations across the sector are at the heart of the sustainable transformation of the chemicals
industry. Actions such as embedding software-connected components into the manufacturing system help to better identify risks and
materials as a resilience booster decrease material waste, while investing in new materials with lower-emission footprints helps the industry decarbonize.. In particular,
and growth path. plastics producers are developing new reusable and recyclable materials, addressing public scrutiny over plastic pollution. To enable
these industry shifts, chemical CEOs are taking a people-first approach, upskilling and reskilling employees to develop expertise in
sustainable production processes to ensure that their R&D and technology investments are implemented quickly and effectively.
TOP SUSTAINABILITY PRIORITIES FOR CHEMICALS CEOS
72% of CEOs are

lowering
GHG emissions
59% of CEOs are
introducing new
and sustainable business models
53% of CEOs are
reducing waste
from products and operations
“Climate neutrality, nature
conservation, and social inclusion
are critical for business. This is a The demand for green alternatives to traditional chemical products will continue to grow, as companies face increasing consumer
and regulatory pressure. As Sarfaraz Ahmed Rehman, Managing Director and Chief Executive Officer of Fauji Fertilizer, states,
transformational paradigm shift in “The reality is we don’t know if our industry will exist in 30 years’ time. We need to pursue a path of adaptability in a rapidly changing
business management, and we need world.” To contend with this shift, chemicals CEOs are exploring new ways to harness renewable energy to fuel chemical processes for
to move from ambition to action.” the short term, while looking towards larger-scale shifts, such as advanced recycling and circular business models, for the long-term.
Not only will this unlock new avenues of sustainable growth for the chemicals industry, but will also accelerate overall sustainability
Ilham Kadri, transformation in other industries as chemicals are a core component of most materials.
CEO and President of the
Executive Committee of Solvay
Emerging fossil fuel alternatives to power chemical processes 58%
Advanced recycling 57%
Shift toward circular business models of production to limit virgin inputs 52%
Carbon capture, utilization, and storage (CCUS) 46%
Biodegradable materials 35%
94 95
COMMUNICATIONS

THE MOST PRESSING CHALLENGES COMMUNICATIONS & MEDIA CROSS INDUSTRY
4% 9%
& MEDIA
53% 57% 51% 42% 40% 40%
The shift to digital has placed

CURRENT LANDSCAPE
the communications & media
industry under severe stress. TOP RESILIENCE ACTIONS FOR COMMUNICATIONS & MEDIA CEOS
To address the rise in demand,
CEOs are investing heavily in
building resilient and efficient
77% of CEOs are
digitizing
business processes
76% of CEOs are
upskilling or
75% of CEOs are
launching new
product and service offerings
the future labor market for sustainability
infrastructure, as well as fostering
a strong workforce and underlying
governance to be able to provide The COVID pandemic has elevated connectivity as a necessity to the global economy and the individual. Industry CEOs are therefore
tasked with providing this basic necessity in an affordable and equitable manner. As Joost Farwerck, CEO and Chairman Board of
affordable, equitable access to all. Management of Royal KPN N.V., explains, “Our business comes with the responsibility of making our infrastructure available, accessible,
and secure. Internet has become a lifeline. It serves as an engine for progress to connect everyone to a sustainable future.” Yet, talent
scarcity issues can inhibit progress. CEOs are, therefore, investing heavily in upskilling and reskilling their current workforce, while
investing in enhancing diversity and inclusion initiatives to attract more top-tier talent in a competitive environment. CEOs are also
advancing sustainability efforts, particularly new product and service offerings, to attract new customers and employees, thereby
strengthening their competitiveness.
TOP SUSTAINABILITY PRIORITIES FOR COMMUNICATIONS & MEDIA CEOS
“It is imperative that we bridge

the digital divide, but the answer 69% of CEOs are
advancing
digital transformation
66% of CEOs are
investing in
skills development
59% of CEOs are
enhancing
diversity and inclusion
isn’t just more broadband, it’s
accessibility and affordability of
devices, digital education, digital
In a rapidly evolving market, communications and media CEOs are investing in advancing their digital abilities, particularly in cloud-
infrastructure – those are the based capabilities, to grow at speed and scale. However, there are also rising governance concerns that the industry is navigating,
things that will change the world.” including responsible media consumption, cybersecurity, and information validation to protect against misinformation.
Hans Vestberg,
Chairman and CEO of Verizon
Cloud-native cybersecurity 54%
Virtualized, cloud-native communications infrastructure 52%
Resources for responsible media consumption 48%
Information validation to protect against misinformation 47%
Circular economy principles and responsible resource management 40%
96 97
THE MOST PRESSING CHALLENGES CONSTRUCTION & MATERIALS CROSS INDUSTRY
CONSTRUCTION
& MATERIALS
13%
8%
1%
70% 57% 50% 42% 41% 40%
As one of the greatest consumers

of raw materials globally, as CURRENT LANDSCAPE
well as a major carbon emitter, TOP RESILIENCE ACTIONS FOR CONSTRUCTION & MATERIALS CEOS
the construction & materials
industry is radically altering
their business models, from the 77% of CEOs are
upskilling or
reskilling their workforce
71% of CEOs are
digitizing
business processes
63% of CEOs are
strengthening
scenario planning and
materials they use to the design of for the future labor market analysis capabilities
the buildings. Material shortages
and price volatility, coupled As supply chain disruptions hit the construction & materials industry, resulting in significant delays and backorders, CEOs are investing
with stakeholder pressure, in digital tools and processes to strengthen their supply chain visibility, enable better scenario planning, and better prepare for
inflation and price volatility. In addition to challenges with sourcing raw materials, the industry is also facing talent shortages linked
are incentivizing a sustainable to the pandemic, hindering the industry’s ability to recover. Along with the disruption to the ways of working caused by the pandemic,
revolution within the industry. construction & materials companies are focusing on building strong, resilient cultures, fostering employee well-being, and adapting to
hybrid work environments.
TOP SUSTAINABILITY PRIORITIES FOR CONSTRUCTION & MATERIALS CEOS
59% of CEOs are

investing in
skills development
56% of CEOs are
introducing new
sustainable business models
55% of CEOs are
lowering
GHG emissions
“We need to demonstrate that our

industry has a future in a carbon The United Nations Environment Programme estimates that the built environment accounts for 37% of CO2 emissions, pressuring the
neutral or low carbon economy, construction & materials industry to adopt low-emitting materials and practices to reduce their footprint.1 Construction & materials
CEOs are responding by investing in green alternatives to basic materials such as aluminum, steel, and concrete. To further accelerate
which is a tremendous challenge” their path to net zero, construction & materials CEOs are unlocking the power of innovative technologies, such as digital twins,
to improve resource efficiency – from energy to water usage – across the entire lifecycle of infrastructure.2 These technologies and
Fernando Gonzalez, innovations are also fueling a modular component trend within the industry, enabling a more circular model to emerge as items can be
Chief Executive Officer of CEMEX disassembled, adapted, or reused for renovations or the construction of new buildings.
Innovative low-carbon materials 62%
Distributed renewable energy generation 58%
Use of modular components designed for circularity 48%
Water conservation appliances and systems 45%
Sensors and analytics to monitor building occupancy for operational efficiency 44%
1. Accenture (2022) Sustainability in engineering and construction: The way forward.

98 2. UNEP (2022) 2022 Global Status Report for Buildings and Construction. 99
THE MOST PRESSING CHALLENGES CPG RETAIL CROSS INDUSTRY

1 INFLATION & PRICE VOLATILITY 2 THREATS TO PUBLIC HEALTH 3 TRADE REGULATION
10%
CPG & RETAIL

4% 6%
CPG
67% 57% 44% 40% 37% 31%
1 INFLATION & PRICE VOLATILITY 2 TRADE REGULATION 3 THREATS TO PUBLIC HEALTH
10%
With consumer pressure putting
RETAIL
17% 1%
sustainability front and center
67% 57%
for the consumer-packaged 48% 31% 39% 40%
goods (CPG) and retail industries,
CEOs are increasingly looking
CURRENT LANDSCAPE
to launch new sustainable
products and offerings to increase TOP RESILIENCE ACTIONS FOR CPG & RETAIL CEOS
competitiveness. Paired with
supply chain disruptions, which 72% of CEOs are upskilling or
for the future labor market
81% of CEOs are upskilling or
for the future labor market
RETAIL
are creating resource instability
70% 78%
CPG
of CEOs are digitizing of CEOs are digitizing
and price fluctuations, the business processes business processes
concept of circularity is becoming
increasingly viable and attractive
for both sectors to build resilience
64% of CEOs are launching
new product and/or
service offerings for sustainability
75%
partnerships
of CEOs are engaging
in long-term strategic
and embrace sustainability.

Rising costs of goods, inconsistent trade regulations, labor shortages, and shifting consumer demand have placed pressure on the CPG
and retail industries. However, sustainability offers a solution by providing new avenues for growth, enticing consumers while attracting
employees, and even proactively addressing trade regulations. To innovate and launch these new products and service offerings, CEOs
are investing in strategic cross-industry and cross-value chain partnerships to build networks of shared knowledge. These networks
allow CEOs to plan for risks more effectively and scale their innovations to broader markets. In addition, CEOs are focused on upskilling
their workforce to respond to the changing business environment and run their new, sustainable business models.

TOP SUSTAINABILITY PRIORITIES FOR CPG & RETAIL CEOS
“Changing our business to fit 55% of CEOs are introducing new

sustainable business models 59% of CEOs are constructing
RETAIL
the needs of clients and the
55% 58%
CPG
of CEOs are reducing waste of CEOs are investing
times is how we’re looking to from products and operations in skills development
build resilience. If we adapt
to changes in that way, we can also
induce changes in our supply chain 55% of CEOs are constructing
a responsible supply chain 50% of CEOs are introducing new
and make sure we share a vision
with the suppliers who support us.” As consumer-facing industries, CPG and retail CEOs are under intense pressure to transform to more sustainable models. To unlock the promise
of sustainability, a responsible value chain is the first step. CEOs are looking to map fully their supply chains, leveraging data to track ESG
Ryuichi Isaka, metrics down to a product level for holistic transparency and to enable end-to-end traceability. Some CEOs are looking to take it a step further,
President & Representative Director embracing circularity from product design to adopting bio-based materials to using digital product IDs to enable these circular practices.
of Seven & I Holdings
Circular business models 55% Sustainable and refillable packaging practices 45%
Product-level ESG data to follow for
end-to-end supply chain traceability 43% End-to-end carbon calculators to help manage
45%
and report Scope 3 emissions with suppliers
RETAIL
Data integration across value chain partners 37% Artificial intelligence and predictive
analytics to efficiently drive merchandising 44%
CPG
AI and predictive analytics to efficiently drive and production decisions
merchandising and production decisions 27%
Bio-based materials derived
from waste by products 44%
Dynamic, real-time inventory management 26%
Product-level ESG data to allow for
Geolocation technology to map supply chain risk 24% end-to-end supply chain traceability 39%
Digital product IDs to enable
Alternative proteins 15% circular business models 33%
HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT
100 101
THE MOST PRESSING CHALLENGES ENERGY CROSS INDUSTRY
1 INFLATION & PRICE VOLATILITY 2 CLIMATE CHANGE 3 TRADE REGULATION
1% 23%
9%
58% 57% 57% 40%
34% 31%
The energy industry is enduring

massive disruption, with the
ENERGY
pandemic and the war in Ukraine CURRENT LANDSCAPE
triggering spikes in energy prices TOP RESILIENCE ACTIONS FOR ENERGY CEOS
and threatening the security of
supply. This disruption presents
a unique opportunity for CEOs to
75% of CEOs are
upskilling or
73% of CEOs are
digitizing
business processes
71% of CEOs are
investing in
renewable energy sources
accelerate their adoption of low- the future labor market to reduce their dependency
on fossil fuels
carbon fuels, invest in innovations
to decarbonize, and expand energy Mounting pressure from geopolitical conflicts, as well as regulatory changes and consumer pressure to address climate change
access and equity. concerns, are accelerating the energy sector’s sustainability transition and decarbonization efforts. The volatile supply of fossil fuels
is prompting the industry to reimagine a cleaner, more secure energy system for the future. To tackle the challenge of decarbonizing
energy production, companies are embracing renewables, exploring cleaner production methods, and investigating carbon-capture
methods. Taking action towards decarbonization in the energy industry in particular addresses both the demand and supply side of the
net-zero equation. As part of the transformation, a top priority for CEOs is to ensure that they promote a just transition, not only for
employees – which companies are prioritizing reskilling for clean energy jobs – but also for the wider society by striving to avoid new
forms of inequity or infrastructure poverty.
TOP SUSTAINABILITY PRIORITIES FOR INDUSTRIAL CEOS

“Ten years ago I’m not sure how
many CEOs would have said
sustainability is something they
69% of CEOs are
lowering
GHG emissions
49% of CEOs are
enhancing
49% of CEOs are
investing in
skills development
would discuss with their board at
every meeting, or even something
they would focus on with their Energy sector CEOs are also looking at transformative ways to diversify their fuel sources, aiming to build a diversified, distributed
employees. Now, it’s an essential energy system. In terms of diversification, CEOs are especially embracing low-carbon fuel sources like clean hydrogen fuels, and
part of doing business.” biofuels (including sustainable aviation fuel). To further decarbonize the industry, the energy sector is exploring innovative avenues
like carbon capture and storage (CCS) to produce and distribute energy as cleanly as possible. The removal of carbon from the energy
Lorenzo Simonelli, system with CCS and industrial efficiency technologies provides significant potential in terms of emissions reduction and economic
value. These innovations are redefining the energy industry, setting the stage for a more diverse, multi-fuel system.
Chairman & CEO of Baker Hughes
Renewable energy 77%
Energy storage and battery technology 69%
Interconnected power girds (cross-country) 61%
Carbon capture, utilization, and storage 51%
Hydrogen fuel 46%
Circular energy systems 46%
102 103
THE MOST PRESSING CHALLENGES FINANCIAL SERVICES CROSS INDUSTRY
1 INFLATION & PRICE VOLATILITY 2 CYBERCRIME 3 THREATS TO PUBLIC HEALTH
6%
SERVICES
16% 4%
51% 57% 42% 44% 40%
CEOs in the financial services 26%
sector are in a unique position to
drive sustainability action, as they
have the power and capital to fuel CURRENT LANDSCAPE
progress on global sustainability
FINANCIAL
TOP RESILIENCE ACTIONS FOR FINANCIAL SERVICES CEOS
goals, which are often hindered
by a lack of access to finance.
While significant progress has 75% of CEOs are
digitizing
business processes
74% of CEOs are
launching new
73% of CEOs are
upskilling or
reskilling their workforces
been made in deploying capital for for sustainability for the future labor market
sustainability progress, it is not
uniform and is largely yet to reach Climate risk is here, and financial capital is needed to address the associated problems more urgently than ever before. The financial
the Global South. services sector is in a distinct position to contribute through investment decisions. As Ana Botín, Executive Chair of Banco Santander,
notes, “We are engaging with our customers in aviation, steel, oil & gas, and power generation because we want to support them in this
transition, and we’re willing to help. However, we do have decarbonization targets, which means that we need to be prepared to say
no to customers or projects that do not fit our targets.” In addition, the financial services industry can accelerate the green transition
and address the sustainable finance gap between developed and developing nations. The UN estimates that developing countries
alone need $1 trillion per year to stave off the worst effects of climate change, with an additional USD 40 trillion investment by 2030
in infrastructure alone.1 Advancing digitization of the financial services industry will be an important enabler to address this gap, as it
improves financial accessibility for previously excluded groups and regions in the world. Christos Megalou, Chief Executive Officer and
Executive Member of Piraeus Bank’s Board of Directors, explains, “As we digitize the economy, I think finance will become more equally
available to all. The digital footprint helps democratize access to banking.”

“We are entering a new era where
the S side of ESG is on the rise. TOP SUSTAINABILITY PRIORITIES FOR FINANCIAL SERVICES CEOS
Investors and regulators are
accelerating their demands on
reporting and disclosures on both 61% of CEOs are
investing in
skills development
61% of CEOs are
enhancing
60% of CEOs are
advancing
climate change and social impact.
Investors’ consciousness has been
raised, and now the reporting and As risks become more interconnected, complex, and volatile, financial services companies are investing in stronger risk analysis tools
and methodologies to make better decisions. CEOs have also begun to integrate ESG assessment into these tools, which has proven
disclosure bar is being raised.” challenging given the fragmentation of frameworks and standards globally. In addition, reporting requirements are becoming more
robust, with significant focus being placed on social impacts. As an effective, global framework is developed, financial services CEOs will
Suni Harford, further embed data-driven innovations, from real-time portfolio risk analysis to AI-powered scenario analysis for climate change impact,
President Asset Management and to better understand the risks they face. These insights will allow financial services CEOs to be able to allocate capital and report to
UBS Group Executive Board Lead for their stakeholders more effectively.
Sustainability and Impact
Real-time portfolio risk analysis 40%
Standards to assess the risk profile of private companies 39%
Learning platforms for ESG upskilling 35%
Artificial intelligence – empowered scenario analysis to mitigate climate risk 31%
Impact underwriting 26%
104 105
THE MOST PRESSING CHALLENGES HEALTH & LIFE SCIENCES CROSS INDUSTRY

1 THREATS TO PUBLIC HEALTH 2 INFLATION & PRICE VOLATILITY 3 TALENT SCARCITY
28%
2%
68% 55% 57%

40% 42% 42%
LIFE SCIENCES
CURRENT LANDSCAPE
TOP RESILIENCE ACTIONS FOR HEALTH & LIFE SCIENCES CEOS

LIFE SCIENCES
The healthcare and life sciences reskilling their workforce reskilling their workforce
HEALTH &
for the future labor market for the future labor market
(LS) industries are undergoing
HEALTH
a period of compressed
transformation, driven by the
73%
partnerships
of CEOs are engaging
in long-term strategic 77% of CEOs are digitizing
business processes
global pandemic. In health, these

changes focus on a more resilient, 71% of CEOs are strengthening
analysis capabilities
74% of CEOs are enhancing
sustainability data collection
capabilities across our value chain
equitable healthcare system,
that provide access to all. The LS In recent years, health and life sciences CEOs have been forced into the spotlight as the global pandemic spurred question on the
industry is focused on technology- world’s ability to protect the human right of health in a safe, affordable, and equitable way. As Giovanni Caforio, MD, Chairman of the
Board and Chief Executive Officer of BMS notes, “The pandemic has highlighted in a very clear way, to policymakers, governments and to
enabled drug discovery and the private sector, the extent to which inequities of access can create challenges within individual countries, and then how those impacts
development that provides better ripple around the world.” The pandemic clearly exposed the limits of the world’s global health infrastructure, with talent shortages
leading to long wait times, facility closures, and ultimately lack of healthcare access. To strengthen the system, CEOs are engaging in
health outcomes and relieves cross-industry and public-private collaborations, as well as embedding data at the core, strengthening their scenario planning efforts to
pressure on the global healthcare better predict the types of drugs and therapies they will need to provide, and how to deliver them more effectively. Furthermore, CEOs
are embracing technologies like artificial intelligence and machine learning to improve R&D productivity and efficiency. CEOs in health
infrastructure. and life sciences are extremely focused on the human element of their work, with leaders embedding diversity within their drug
development, clinical trial, and disease diagnosis capabilities to enable a more inclusive and resilient health ecosystem.

TOP SUSTAINABILITY PRIORITIES FOR HEALTH & LIFE SCIENCES CEOS
65% of CEOs are constructing

61% of CEOs are investing in
LIFE SCIENCES
a responsible supply chain skills development
HEALTH
61% of CEOs are investing in
skills development 58% of CEOs are lowering
greenhouse gas emissions
“Healthcare in the future should
be personalized, and the basis
of that is data. Proper collection
52% of CEOs are introducing new
sustainable business models 52% of CEOs are enhancing
diversity and inclusion initiatives
and management of that data is

Precision medicine – tailored, predictive medicine based on unique individual characteristics enabled by data – is the future of the healthcare
instrumental to our industry.” industry. With the massive investment placed on understanding the human genome over the past two decades, the industry is beginning to
reach a point where precision medicine is viable – both from the perspective of tailored treatment options and for pharmaceutical production
Isao Teshirogi, Ph.D., that is better tied to demand. The ability to unlock this shift hinges on the ability to collect high-quality, consistent data, and translate into
Chief Executive Officer of Shionogi usable insights. Data is also transforming the patient experience. Providers are using data to rework the patient process – triaging patients to
& Co., Ltd. telehealth platforms where applicable – reducing pressure on the healthcare infrastructure and delivering faster, more affordable care.
Artificial intelligence to transform
Digital health services delivery 63% precision medicine 48%
Artificial intelligence to transform
precision medicine and diagnosis 52% Biosynthetic drug production 42%
HEALTH
LIFE SCIENCES
Augmented and virtual reality enabled Machine learning to optimize drug
health services or patient care services 43% candidate design 42%
Machine learning for Artificial intelligence for
epidemic/pandemic modeling 42% efficient clinical trials 39%
Artificial intelligence-enabled real time staffing Ecosystem regeneration to protect
and inventory monitoring 31% nature-based drug ingredients 39%
Data-sharing environments for information
Robot-assisted surgery and procedures 30% sharing with global health authorities 39%
Virtual clinical trials 29%
HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT Digital twins of humans to model treatment
HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT hypotheses and test therapeutics 26%
3-D printed medical devices 23%
106 107
THE MOST PRESSING CHALLENGES HIGH TECH CROSS INDUSTRY
1 TALENT SCARCITY 2 INFLATION AND PRICE VOLATILITY 3 THREATS TO PUBLIC HEALTH
11% 11%
2%
HIGH TECH
53% 42% 46% 57% 40%
38%
High tech CEOs face ongoing

supply chain disruptions,
CURRENT LANDSCAPE
inflationary pressure, trade
wars, and geopolitical conflicts TOP RESILIENCE ACTIONS FOR HIGH TECH CEOS
impacting profitability and
business operations. In response,
CEOs plan to decouple their
80% of CEOs are
upskilling or
74% of CEOs are
digitizing
business processes
68% of CEOs are
engaging in
long-term strategic
for the future labor market partnerships
business from volatile regions
by re-networking supply chains,
doubling down on talent and The high tech industry creates foundational hardware and technologies for our increasingly connected and digital world. However,
there’s a limited pool of available hardware engineering talent, challenging high tech companies to retain, upskill and grow talent within
focusing on raw material the currents ranks by becoming an employer of choice in career path, corporate values, diversity partnerships and product innovation.
procurement to strengthen their The Representative Director, President & CEO of Tokyo Electron, Toshiki Kawai, agrees, “Ultimately, our corporate growth is enabled by
people, and our employees both create and fulfill company values.” High tech CEOs put weight behind their words by ensuring that their
business resiliency. workforce has the right skills to grow in a hypercompetitive market and investing in corporate values such as diversity, equity, and inclusion.
TOP SUSTAINABILITY PRIORITIES FOR HIGH TECH CEOS
70% of CEOs are

investing in
skills development
63% of CEOs are
enhancing
53% of CEOs are
advancing
“We have been driving significant

High tech companies face urgent calls to use more sustainable inputs to create greener outputs. The industry is natural resource-
geographic diversity in our supply intensive, consuming a tremendous amount of raw materials. The rising scarcity of core inputs like rare earth metals, an increasingly
chain to eliminate reliance on any fragmented global supply chain, and pressure to report on Scope 3 emissions are driving high tech CEOs to focus on innovative solutions
country – a complicated action, to create a more resilient, transparent, and data-driven materials sourcing program. Innovation powered by AI and analytics to help
especially in the semiconductor drive sourcing and supply chain management, coupled with continued R&D investment, promotes industry resilience in the short-term.
Longer-term initiatives such as circular business models require more time and investment. Toshimitsu Taiko, President & CEO of
industry.” Konica Minolta, Inc., observes, “Circular business models can have a significant impact for our industry, but we need them to be more
economically viable.” Core to this viability is having visibility into supply chains to understand where various inputs are coming from,
Chuck Robbins, which processes can be made circular, which inputs can be replaced, and gain insight into their Scope 3 emissions footprint.
Chair and CEO of Cisco
R&D to identify substitutes for existing material inputs 46%
Development of recyclable components in products 43%
Real-time supply chain data management 41%
Circular business models 39%
108 109
THE MOST PRESSING CHALLENGES INDUSTRIAL CROSS INDUSTRY
INDUSTRIAL
8%
3% 3%
65% 57% 39% 42% 37% 40%
Inflation, supply chain instability
spurred by the pandemic,
and increasing consumption CURRENT LANDSCAPE
of technology products have
converged in the industrial sector TOP RESILIENCE ACTIONS FOR INDUSTRIAL CEOS
to create a difficult, volatile

operating environment. To weather 75% of CEOs are
upskilling or
70% of CEOs are
digitizing
business processes
60% of CEOs are
launching new
the storm, CEOs are turning to for the future labor market
powered by strong sustainability Industrial CEOs were severely impacted by the pandemic. Shortages of key raw materials, compounded by limited slack in the system
talent and responsible supply and price volatility, shed light on the weak spots of the industry’s value chains. CEOs are, therefore, reshaping their business models to
reduce their dependency on volatile markets by embracing sustainability, and launching new products while simultaneously improving
chain practices. existing products and processes. To support these new business models, CEOs are investing in skills development opportunities for
the workforce. In addition, many CEOs are focusing on building a responsible supply chain, harnessing renewables for industrial
manufacturing processes, and increasing transparency in supply chains through real-time tracking and data monitoring to predict
capacity issues.
TOP SUSTAINABILITY PRIORITIES FOR INDUSTRIAL CEOS

“My understanding of a resilient
business is ‘responsive to change’.
There are two types of responsive 64% of CEOs are
constructing a
responsible supply chain
56% of CEOs are
lowering
55% of CEOs are
introducing new
and sustainable business
to change; one is abnormal models
(challenging) time and the another
is normal (quiet) time. Resilient
To build the future of the industry, industrial CEOs believe in the transformative power of sustainable product design – reimagining their
business must be able to respond products to reduce environmental impact across the product lifecycle. To enable the development of these sustainable products, some
to both, but I think that resilience industrial CEOs are investing in artificial intelligence (AI) and digital twin capabilities to understand where there may be sustainable
is more on how to deal with it in improvements across the production chain. This end-to-end approach does not just focus on sourcing sustainable materials that reduce
normal times in order to prepare for environmental impact, but also allows CEOs to understand product performance across the lifecycle down to product remanufacturing
and recycling at the end of life.
the challenges ahead.”
Hiroaki Shinya, Representative Director
and President of Nippon Koei Co., Ltd. TRANSFORMATIVE INNOVATIONS
Sustainable products design 57%
R&D to identify new sources for sustainable material inputs 48%
Low-or-no waste production processes 47%
Concentrated renewables for heavy industrial manufacturing 37%
Alternative fuels 36%
Materials passports for value chain transparency 34%
Electrification 33%
110 111
THE MOST PRESSING CHALLENGES NATURAL RESOURCES CROSS INDUSTRY
NATURAL
1 INFLATION & PRICE VOLATILITY 2 CLIMATE CHANGE 3 BIODIVERSITY LOSS
4% 17%
24%
RESOURCES
53% 57% 51% 42%
34% 18%
CURRENT LANDSCAPE
The natural resources industry is
TOP RESILIENCE ACTIONS FOR NATURAL RESOURCES CEOS
facing a massive transformation
– once a historically human-
intensive industry, the industry is 73% of CEOs are
engaging in
long-term strategic
66% of CEOs are
upskilling or
66% of CEOs are
strengthening
now rapidly embracing technology. partnerships for the future labor market analysis capabilities
The adoption of drones, robotics,
and data analytics are radically Climate change and biodiversity loss are two core challenges particularly top of mind for natural resources CEOs. As a resource-
changing the way the industry can intensive industry, many companies are engaging in restoration efforts to halt and reverse further degradation. With greater scrutiny
from the public, natural resources companies are also extending their reach to engage meaningfully with communities. Since most
manage raw materials in real time. natural resource companies’ plants or manufacturing locations are contingent on a region’s landscape, it is critical that companies
engage with their communities to help mitigate potential social, economic, or environmental risks from operations. T V Narendran, CEO
& MD of Tata Steel, notes, “The steel industry is an integral part of the global economy and as a responsible corporate citizen, we will
continue with our efforts to engage with different stakeholders to spearhead development of new technologies to decarbonise steel.”
Further, to gain trust from the global community, natural resource companies are increasing their collaboration with supply chain
partners to operate with greater transparency.
TOP SUSTAINABILITY PRIORITIES FOR NATURAL RESOURCES SERVICES CEOS
“It’s important that geopolitics

doesn’t stall the climate agenda. 59% of CEOs are
investing in
skills development
56%
water usage
of CEOs are
minimizing 56% of CEOs are
lowering
As companies, we need to keep
climate change front and center as
an issue that we all must address.” The natural resources industry is particularly focused on reducing its environmental impacts, specifically around water usage and
GHG emissions, and restoring biodiversity and ecosystems. Leveraging technologies, such as drones and geospatial mapping, can help
Praveen Singhavi, businesses use resources more efficiently and precisely while promoting healthier ecosystems. Circularity is also a rising topic, with
President and CEO of April Group mining companies leading the charge, embedding circularity within site operations to eliminate mineral waste streams and limit raw
material extraction.
Ecosystem restoration 68%
Circular business models of production to limit material extraction 53%
Real-time supply chain data ecosystem health 38%
Digital modeling of ecosystem health 33%
Precision factory 33%
3-D printed parts for industrial machinery 30%
Robotics-enabled mining 25%
Asteroid and deep-sea mining 12%
112 113
THE MOST PRESSING CHALLENGES SOFTWARE & PLATFORMS CROSS INDUSTRY
SOFTWARE
1 TALENT SCARCITY 2 CYBERCRIME 3 LACK OF RELEVANT SKILLS
17%
14% 6%
& PLATFORMS
59% 42% 40% 26% 36% 30%
While the software and platforms

industry drives a more efficient,
CURRENT LANDSCAPE
interconnected market, CEOs are
looking to raise their ambition and TOP RESILIENCE ACTIONS FOR SOFTWARE & PLATFORMS CEOS
lead in sustainability and security.
Protecting the world’s data, using
it responsibly, and doing so in
77% of CEOs are
digitizing
business processes
73% of CEOs are
upskilling or
68% of CEOs are
engaging in
long-term strategic
a climate-friendly manner will
define whether the software and
platforms industry can continue to With the global pandemic forcing the world online, industry CEOs are experiencing significant growth as economies become increasingly
reliant on digital infrastructure. Core to meeting this demand is a skilled, productive workforce. However, high competition for talent –
deliver the outsized returns it has compounded by a lack of skilled employees to meet this demand – has severely impacted the software and platforms industry. CEOs are,
generated over the last two decades. therefore, focusing on upskilling their workforce on topics such as AI, machine learning, and computer vision skills, to ensure that they
have the right set of skills to address upcoming needs. To scale their impact and minimize their footprint, CEOs in software and platforms
are engaging in strategic partnerships with their upstream and downstream value chain partners to tackle their scope 3 emissions.
Leaders see this as core to their decarbonization strategy.
TOP SUSTAINABILITY PRIORITIES FOR SOFTWARE & PLATFORMS CEOS
70% of CEOs are

investing in
skills development
64% of CEOs are
advancing
61% of CEOs are
enhancing
“Companies’ ability to train and
upskill employees in the newest
technology skills – such as While the software and platforms industry remains in near-constant evolution, a few trends are certain: the green transition is underway,
coding for AI and robotic process big data will continue to get bigger, and demand for software-based efficiencies will only grow. As CEOs develop their strategies,
automation – ensures employee sustainability sits at the center of leaders’ approaches. Those furthest along are integrating sustainability directly into their business
retention, as well as employer models – whether by developing tools to better manage carbon footprints, transitioning to green hardware and efficient data centers, or
adopting energy-efficient cloud systems. As pressures continue to mount on the infrastructure deployed by the software and platforms
attractiveness.” industry through the adoption of artificial intelligence, the internet of things, blockchain, and the metaverse, these sustainable evolutions
will transform the industry to be more resilient through limiting dependency on volatile energy markets.
Rohit Kapoor, Vice Chairman & CEO
of Exl Service
Cloud computing and data architecture 71%
Cloud-native cybersecurity 63%
Data integration across value chain partners 56%
Digital tools for management of sustainability data 54%
Low-carbon data centers 40%
114 115
THE MOST PRESSING CHALLENGES SUPPORT SERVICES CROSS INDUSTRY
11%
4% 2%
SUPPORT
46% 57% 46% 42% 42% 40%
As industries across the world CURRENT LANDSCAPE

struggle with the results of the
pandemic, economic volatility, TOP RESILIENCE ACTIONS FOR SUPPORT SERVICES CEOS
and geopolitical tensions, support
74% of CEOs are
73% of CEOs are
67% of CEOs are
SERVICES
services CEOs are focusing on upskilling or digitizing engaging in
building resilient workforces reskilling their workforce business processes long-term strategic
and leveraging the power of
technology to meet the ever-
In order to contend with an ever-changing business environment, CEOs in the support services industry are laser-focused on taking a
changing needs of their clients. people-first approach. As the private sector evolves and the skills that clients require to address their most pressing challenges shift,
CEOs are heavily investing in attracting, retaining, and upskilling their talent. Sustainability is rising in importance, not only for business
performance but also for talent retention, as employees search for purpose and value in their everyday work in addition to monetary
benefits. To brace for an economic downturn, CEOs are looking to strengthen partnerships to gain a competitive advantage and scale
their impact. As sustainability becomes a top priority for companies across industries, support services CEOs are utilizing partnerships
to build offerings and technologies to support their clients.
TOP SUSTAINABILITY PRIORITIES FOR SUPPORT SERVICES CEOS
“Education is key to building a

resilient business. Leaders need 68% of CEOs are
investing in
skills development
58% of CEOs are
advancing
56% of CEOs are
introducing new
more training as the business
for sustainability
environment has become
more complex, especially with
globalization and geopolitics.” As COVID-19 changed the way the support services industry interacted with clients, digitization became a focus point for CEOs.
Technologies, such as artificial intelligence, machine learning, and predictive intelligence allow for increased efficiency and accuracy
Grace Kwok May Han, Chairman and through the automation of repeatable tasks. Emerging technologies, such as virtual reality and the metaverse, provide nascent
Executive Director of Allied Sustainability opportunities for reshaping client interactions. In addition, as the world transitions towards a more sustainable future, support services
and Environmental Consultants companies are key partners for both the private and public sector to accelerate their goals. As Susan Chodakiewicz, CEO of Nathan
Group Limited Associates, notes, “Governments and society at large don’t have the resources to invest in the capital projects and fundamental shifts
that are necessary to meet climate change challenges right now. And this is where public-private partnerships are going to be crucial –
getting like-minded organizations, regardless of business models, to collaborate on certain key objectives such as infrastructure.”
Cloud computing 48%
Artificial intelligence and predictive analytics for risk planning 40%
Virtual reality enabled collaboration spaces 30%
116 117
THE MOST PRESSING CHALLENGES TRAVEL CROSS INDUSTRY
1 THREATS TO PUBLIC HEALTH 2 INFLATION & PRICE VOLATILITY 3 TALENT SCARCITY
37% 12%
13%
77% 69%
40% 57% 55% 42%
With shutdowns and travel
restrictions, the travel industry
has been one of the hardest hit
TRAVEL
by the impacts of the pandemic. CURRENT LANDSCAPE
As travel bounces back, the
TOP RESILIENCE ACTIONS FOR TRAVEL CEOS
industry is struggling to keep
up with increased demand for
domestic and international travel 80% of CEOs are
digitizing
business processes
74% of CEOs are
engaging in
long-term strategic
71% of CEOs are
upskilling or
as it builds up its staff and faces partnerships for the future labor market
increasing operating costs for
labor and energy. Travel CEOs are Travel levels are returning back to pre-pandemic rates, but the nature of this travel is changing, with shorter trip durations and remote
embracing sustainable business working blurring the lines between leisure and business trips. Travel companies are looking to staff up to meet this demand; however,
CEOs are facing extreme talent shortages, causing operational issues and straining trust with customers. To help address staffing
models as they rebuild, focusing shortages, CEOs are turning to digital tools, such as contactless check-in and artificial intelligence-powered customer service. To survive
heavily on renewables and circular during the early days of the pandemic, many travel companies put their sustainability investments on pause. Now, sustainability efforts
are picking back up and being leveraged to help de-risk supply chains and secure energy costs. With a growing trend for sustainable
models to transform the future of travel among customers, travel CEOs are looking into close partnerships with local communities to support them as they recover from
the industry. pandemic impacts, as well as provide unique experiences for travelers.
TOP SUSTAINABILITY PRIORITIES FOR TRAVEL CEOS
56% of CEOs are

lowering
GHG emissions
55% of CEOs are
investing in
skills development
55% of CEOs are
constructing
“The challenge for tourism is how to Sustainability is a key challenge and top priority for the future of travel as travel companies are already experiencing the physical risks
of climate change with increasing frequency. Hospitality CEOs are most focused on addressing the physical impacts of climate change,
balance the responsibility to protect while those in transportation are more focused on decarbonizing. Hospitality companies are looking at circular business models to
and preserve nature while allowing incorporate waste management frameworks and bio-based products into their offerings. Transportation CEOs are exploring innovative
more people to access it.” paths to decarbonize, such as embracing renewable energy and investing in sustainable aviation fuel. The travel industry’s appetite for
green solutions is there, yet significant investment in infrastructure and economic incentives are needed to achieve widespread adoption.
James Thornton,
CEO of Intrepid Travel
Renewable energy 83%
Sustainable aviation fuel 63%
Alternative propulsion 62%
Biometrics to facilitate contactless interactions 32%
118 119

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OPPORTUNITY

RESILIENCE Global challenges will continue and likely rise

UPSKILL AND/OR APPLY ANALYTICS-

ALIGN LEADERSHIP ACCELERATE

ADVANCE THE COLLECTION OF ENHANCE SUPPLY CHAIN VISIBILITY

ENGAGE IN STRATEGIC ADVOCATE FOR STRONGER

78 28. Principles for Responsible Investment (2022) EU Taxonomy. 79

82 31. IMF (2022) Fossil Fuel Subsidies 83

Sustainable Aviation Fuel

1 CLIMATE CHANGE 2 INFLATION 3 TRADE REGULATION

59% 59% 57% 52%

Climate change, resource scarcity,

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR AGRICULTURE CEOS

“The reality is we will have to produce

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

1 INFLATION & PRICE VOLATILITY 2 TALENT SCARCITY 3 THREATS TO PUBLIC HEALTH

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR AUTOMOTIVE CEOS

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

1 INFLATION & PRICE VOLATILITY 2 TRADE REGULATION 3 CLIMATE CHANGE

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR CHEMICALS CEOS

72% of CEOs are

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

THE 12TH UNITED NATIONS GLOBAL COMPACT-ACCENTURE CEO STUDY

1 INFLATION & PRICE VOLATILITY 2 TALENT SCARCITY 3 THREATS TO PUBLIC HEALTH

The shift to digital has placed

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR COMMUNICATIONS & MEDIA CEOS

“It is imperative that we bridge

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

As one of the greatest consumers

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR CONSTRUCTION & MATERIALS CEOS

59% of CEOs are

“We need to demonstrate that our

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

1. Accenture (2022) Sustainability in engineering and construction: The way forward.

THE 12TH UNITED NATIONS GLOBAL COMPACT-ACCENTURE CEO STUDY

CPG & RETAIL

1 INFLATION & PRICE VOLATILITY 2 TRADE REGULATION 3 THREATS TO PUBLIC HEALTH

and embrace sustainability.

WHERE IS THE INDUSTRY GOING?

“Changing our business to fit 55% of CEOs are introducing new

1 INFLATION & PRICE VOLATILITY 2 CLIMATE CHANGE 3 TRADE REGULATION

The energy industry is enduring

WHERE IS THE INDUSTRY GOING?

TOP SUSTAINABILITY PRIORITIES FOR INDUSTRIAL CEOS

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

1 INFLATION & PRICE VOLATILITY 2 CYBERCRIME 3 THREATS TO PUBLIC HEALTH

WHERE IS THE INDUSTRY GOING?

HIGH IMPACT MODERATE IMPACT LOW IMPACT NO IMPACT

THE 12TH UNITED NATIONS GLOBAL COMPACT-ACCENTURE CEO STUDY

68% 55% 57%

76% of CEOs are upskilling or

global pandemic. In health, these

WHERE IS THE INDUSTRY GOING?

65% of CEOs are constructing