Recent Release | 11 Nov 2022
2022 Climate Check: Business’ views on climate action ahead of COP27
Thought Leadership Team
Oxford Economics
In the last year, the world has been upended by the war in Ukraine, soaring inflation, and the ongoing COVID-19 pandemic—each of which has competed for the attention and funds needed to address climate change.
Ahead of this year’s COP27, Deloitte teamed up with Oxford Economics to understand the climate initiatives currently being taken by business, as well as the reasoning by the business leaders behind these efforts. The resulting survey of 700 executives worldwide sheds new light on their goals, concerns, and tradeoffs surrounding the climate crisis in a world of competing priorities.
The study’s key findings include:
- Executives still see investing in environmentally sustainable practices as good business; 87% believe such practices provide long-term financial benefits.
- Nearly 40% of businesses will accelerate sustainability efforts in the next year, although inflation and geopolitical challenges are constraining corporate climate and sustainability strategies.
- While 55% of executives support new government climate regulations, only 27% want governments to prioritize the enforcement of existing regulations.
- Most companies have initiated climate mitigation and/or adaptation strategies, but certain industries are obviously lagging.
- Executives’ primary global concerns are security risks related to climate change.
About the team
Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:
Sundus Alfi
Senior Research Manager, Thought Leadership
Kayla Luparello
Research Associate, Thought Leadership
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