Sustainability initiatives find a place in the sun, by organisations across the globe, finds a new study
According to the Environmental Sustainability Index, which is created quarterly by Honeywell in partnership with Futurum Research, sustainability initiatives will continue to be a top priority for organisations in the coming months. Surprisingly, the data shows that Asia Pacific emphasises sustainability goals more than any other region. When it comes to Sustainability Goals Optimism, in Asia Pacific, 46% are optimistic about achieving 12-month targets, 43% are optimistic about achieving 2030 goals.
It offers a quarter-over-quarter comparison of sentiment and progress on ES projects globally and compiles views from more than 600 business leaders who are directly involved with their organization's Environmental Sustainability (ES) initiatives.
The index's purpose is to inform the general public about the adoption of technologies that directly help environmental and sustainability projects, both currently and in the future.
In four categories—energy evolution and efficiency, emissions reduction, pollution avoidance, and circularity and recycling—the index gives information on how firms prioritise, make progress, and express optimism about achieving their objectives.
The poll found that 71% of respondents selected sustainability as the most essential effort, followed by 56% of respondents who supported digital transformation.
Over the next 12 months, 50% of firms plan their budgets for emissions reduction to increase by more than 20%. Sustainability was identified as the most crucial initiative by 71%. The general perception of progress made towards the ES goals is still positive. While 74% are confident about achieving 2030 goals and 74% are enthusiastic about meeting upcoming 12-month goals, 92% are successful with preceding 12-month goals. There is a discernible shift among organisations towards a more balanced strategy. Organisations concentrated on a process-driven strategy for sustainability activities during the previous quarter. More respondents this quarter are approaching process and technology-driven improvements in a balanced manner.
Energy Efficiency and Evolution Remain Key Priorities
Most chose energy evolution and efficiency and emissions reduction over pollution prevention and circularity/recycling when asked to name the top two categories for their organisations.
Energy efficiency and evolution were ranked as the top priorities by 63%, emissions reduction by 51%, and 35%. Pollution reduction is a top priority, and 33% of respondents cited recycling and circularity as top priorities. Compared to EMEA (which may include France, Germany, Israel, Italy, Netherlands, Nordics, Poland, Saudi Arabia, South Africa, UAE, United Kingdom, and other countries within Europe, Middle East, and Africa), Asia Pacific companies are excelling in energy evolution and efficiency, with a 55% success rate, while those in EMEA are trailing at 49%. Asia Pacific is in the lead with a combined 49% in every category except emissions reduction, followed by EMEA and South America.