Over 80% of companies set to boost environmental spending


More than 80% of companies aim to elevate their financial allocation for environmental sustainability objectives within the coming year.

According to ESG Today, the emphasis on achieving sustainability goals continues to be a dominant corporate agenda, with increased confidence from executives in realising these objectives.

Honeywell’s Environmental Sustainable Index was introduced in Q4 2022, offering a quarterly snapshot of business leaders’ sentiments towards their firm’s sustainability commitments.

The collaboration with Futurum Research led to insights gathered from over 750 professionals actively involved in environmental sustainability projects across diverse regions and sectors.

Sustainability goals have been recognised by 75% of organisations as a top near-term agenda, reflecting a 10% rise from the previous year.

Among the environmental sustainability aspects, Energy Evolution & Efficiency emerged as the leading category, with Emissions Reduction and Pollution Prevention following suit.

There is a noticeable spike in the executive’s optimism towards achieving short and long-term sustainability objectives, especially in the Emissions Reduction sector.

Notably, over 90% of executives reported achieving their sustainability targets in the past year across all categories.

A fresh element in this quarter’s report focused on extreme weather’s influence on sustainability efforts. Around 62% felt that events like wildfires and floods will substantially impact their green initiatives.

Honeywell Chief Scientist for Sustainability and Chief Sustainability Officer Gavin Towler said, “The extreme weather events this year have increased the sense of urgency for immediate action at organizations. As a result, we should expect to see more organizations looking to accelerate their sustainability efforts and, in particular, adopting a technology-driven approach to their energy transition plans.”

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