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BUSINESS

97 pct C-level business companies negatively impacted by climate change -- Deloitte

26/01/2022 12:57 PM

KUALA LUMPUR, Jan 26 -- Ninety-seven per cent of global C-level business leaders (CxOs) have indicated that their companies have already been negatively impacted by climate change, according to the Deloitte Global’s 2022 CxO Sustainability Report.

The report themed “The Disconnect Between Ambition and Impact” also revealed about half of those surveyed said their operations have been impacted through disruptions to business models and supply networks worldwide.

“Eighty-one percent of CxOs have been personally impacted by a climate event, for example, extreme heat, and worsening storms and wildfires over the last 12 months.

“Additionally, stakeholder groups -- including regulators, shareholders, consumers, and employees -- are all adding to the pressure to act,” the report said.

Deloitte Global climate and sustainability marketplace leader Jennifer Steinmann said climate change is no longer in the distant or even near future.

“It’s here now and the choices we make today will determine the quality of life for generations to come. A better future depends on a profound and lasting change in attitude and behaviour from governments, businesses, and individuals.

“The business community can help model new forms of cooperation that identify the best ideas, regardless of source -- and create new and lasting solutions that will have the greatest impact for them, their stakeholders, and their communities,” she said.

According to the report, two-thirds of CxOs said their organisations are using more sustainable materials and increasing the efficiency of energy use; more than half have adopted energy-efficient or climate-friendly machinery, technologies, and equipment; and a majority are intentionally reducing air travel and training employees on their climate actions and impact.

-- BERNAMA


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