According to ‘Deloitte 2022 CxO Sustainability Report: The Disconnect Between Ambition and Impact’ (research released by DTTL (‘Deloitte Touche Tohmatsu Limited’ or in short, ‘Deloitte Global’), Indian business corporations have ranked fifth in terms of their concern for climate change. Indian business organizations are now more likely than their global counterparts to take responsible climate actions.
In comparison to the study performed in January-February 2021, the Deloitte survey conducted in September-October 2021 indicated a higher number of top-level executives in India reacting to the issue of climate change.
The study was conducted by Deloitte and KS&R Inc. On accord to Deloitte, the study drew more than 2,000 top-level executives, including 163 CXOs from India.
What Did The Study Reveal About Climate Change For Business Enterprises?
As per the report, 80% of Indian CEOs believe the world is at a tipping point in terms of responding to climate change, up from 53% eight months ago. The study also revealed that 96% of respondents were of the same opinion that their organizations had already been affected by the adverse impacts of climate change. Many of them also expressed their concern about the health issues of employees due to the climate crisis that ultimately affects Indian organizations.
Despite the seriousness of the situation, there is a general sense of hope, with 94 percent agreeing that rapid action can limit the worst effects of climate change (compared to 61%, 8 months ago).
According to the Deloitte report, the rise in both anxiety and optimism suggests that more leaders are mindful of the need to act immediately.
The results of the study assure us that Indian CXOs are concerned about climate change and are taking steps to address it, and the recent climate-centric legislation that is being implemented will assist in increasing responsibility.
Indian business organizations are enjoying the benefits of their sustainable climate actions:
The survey demonstrates that Indian organizations are much ahead of their worldwide rivals in identifying and incorporating daring activities into their culture, said Viral Thakker, a partner at Deloitte India.
According to the report, 80% of Indian CEOs believe the world is at a tipping point in terms of responding to climate change, up from 53% eight months ago. The study indicates that over the next three years, CXOs are increasingly focused on incorporating climate into their plans and operations, according to the study.
The study exemplifies a deeper understanding of the sustainable climate actions taken by Indian organizations. It also evinces the business benefits of those actions.
The study shows that now a lot of Indian business organizations are coming forward to provide new environmentally friendly products and services. To meet their sustainability criteria now, many of them require responsible business partners and suppliers. Nowadays, many Indian companies are relocating and updating their facilities in an effort to increase their resistance to climate change. Indian businesses are also trying to include climate considerations in campaigning and political donations.
The abovementioned climate efforts by Indian business organizations are now proving successful in increasing their brand reputation and customer satisfaction, besides saving the climate of our country and our planet as well.