Climate change, materials use, air pollution, solid waste and resource availability were the top sustainability issues business executives identified for investment, according to a new global research study sponsored by SAP SE. But implementing and scaling plans for action are still obstacles many encounter.
“Improving the Environment at Planetary Scale: A Survey of Business Drivers and Actions” explores steps businesses are taking to improve the environment, and the challenges they face. The study was discussed at the recent virtual SAP Sustainability Summit. The summit focused on how companies are reducing their environmental footprints and managing limited resources productively while steering and reporting their businesses holistically.
Based on feedback from more than 7,400 business executives, spanning 19 countries and 16 industries, the survey also found:
“The results of this study show that that 83% of businesses do not believe that environmental impacts are material to their business right now,” SAP Chief Sustainability Officer Daniel Schmid said. “Businesses need to recognize that environmental issues are important now. With an increasing percentage of consumers focused on values and ethics of the businesses they buy from, we have an important responsibility to help organizations better understand the business impacts of the climate crisis, overcome the barriers identified in this report and accelerate their pace toward climate action.”