INTELLIGENT BRANDS // Green Technology
Deloitte survey reveals over half Middle East C-Suite leveraging technology to drive climate action
Deloitte Middle East presented the key findings of its 2024 CxO Sustainability Report . The report , based on a survey of over 2,100 C-suite executives across 27 countries , highlights a significant shift in corporate priorities . Notably , 92 % of global executives believe their companies can achieve growth while reducing greenhouse gas emissions , signalling a widespread recognition of the alignment between business success and climate action . awareness of climate-related challenges in the region . Additionally , 43 % of Middle Eastern executives ranked climate change as one of the top three most pressing issues for the upcoming year , surpassing the global average of 37 %.
67 % of Middle Eastern executives also emphasize the importance of climate equity in their sustainability efforts , focusing on workforce retraining for green jobs and engaging vulnerable communities . key barriers , including increased insurance costs , lack of sustainable solutions , and stakeholder alignment challenges .
Daniel Gribbin , Sustainability Growth Lead at Deloitte Middle East said , “ The findings of our report demonstrate a clear shift in the overall corporate mindset , climate action is no longer just about compliance or a moral imperative , but also a driver of innovation , resilience , and long-term growth for companies .
A remarkable 85 % of global CxOs reported an increase in sustainability investments , up from 75 % last year . In the Middle East , 66 % of organisations have slightly increased their investments , with 19 % significantly boosting their sustainability budgets by 20 % or more , outpacing the global trend .
The report reveals that climate change remains a top priority for CxOs , with 70 % expecting it to significantly impact their strategies and operations over the next three years . In the Middle East , this figure rises to 73 %, reflecting a heightened
Innovation , including Artificial Intelligence , ranks as the most pressing challenge for CxOs , with 38 % listing it among their top three concerns .
The report highlights that 50 % of CxOs have already implemented technology solutions to achieve environmental goals , with another 42 % planning to do so within two years .
Despite recognising the looming impact of climate change , 27 % of organisations have taken minimal or no needle-moving actions towards sustainability . The report identifies
Only 21 % global enterprises using technology to reduce environmental footprint
Kyndryl released the second Global Sustainability Barometer study , commissioned by Microsoft . The study , conducted by Ecosystm , shows that while 84 % of organisations place a high strategic importance on achieving sustainability goals , only 21 % use technology to reduce their environmental footprint and shape their overall sustainability strategy .
Since last year , 38 % of organisations have increased their sustainability goals and programme execution – demonstrating progress as the world works toward a green future . By integrating sustainability into a company ’ s business strategy , processes and systems , organisations can maximise the value of their people and technology to achieve internal goals and deliver positive impact .
Daniel Gribbin , Sustainability Growth Lead , Deloitte Middle East
Pieter Bil , Senior Vice President and Managing Director at Kyndryl Middle East and Africa
“ Sustainability is at the heart of the Middle East ’ s vision for the future , with nations like the UAE and Saudi Arabia driving transformative initiatives to create a balance between economic growth and environmental responsibility ,” said Pieter Bil , Senior Vice President and Managing Director at Kyndryl Middle East and Africa . p
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