Recent figures show that business leaders are re-evaluating their ESG efforts, despite mounting warnings about the climate crisis and its impact on the planet
Businesses are contending with numerous challenges, from rising inflation to supply chain issues and soaring energy costs. While executives recognise the need to tackle the climate crisis – 90% of CEOs agree that climate change must be addressed urgently – sustainability budgets are coming under pressure as focus turns to these more immediate economic challenges.
A recent survey of chief executives by KPMG found that half of CEOs are contemplating pausing or reconsidering their ESG efforts because of economic pressures, with 34% already having done so. The most frequently cited factors impacting businesses ability to deliver on ESG strategy were the prevalence of other pressing business and economic matters.