Reflecting on data from a global survey of executives conducted by The Harris Poll for Google Cloud, Karan Bajwa, vice president for Asia Pacific (APAC) Google Cloud, says there is a lack of sustainability programs and quantifiable measurements.
Citing the International Panel on Climate Change report, he comments that as organisations ramp up sustainability transformation efforts, technology innovation is what executives believe will have a lasting impact on the sustainability of their organisation and the planet.
Results don’t reflect the enthusiasm
APAC executives lead in optimism, with 77% believing that sustainability can drive significant business transformations, compared to 73% globally. Many identify environmental, social and governance (ESG) initiatives as their top organisational priority, ranking ESG on par with business model evolution and customer relationship and experience optimisation.
Executives in APAC are more likely to seek sustainability opportunities, with more agreeing that “I wish our board or senior leadership gave us more room to prioritise sustainability” (87% compared to 82% globally)—suggesting a growing recognition that sustainability is a serious driver for growth.
However, executives struggle to have sustainability programs in place or quantify their efforts—and APAC trails the pack. While nearly all executives report having at least one program in place to advance sustainability initiatives, APAC executives are more likely to say that their organisation does not have sustainability programs or strategic priorities in place—the highest of all regions (8% in APAC compared to 4% globally).
Measurement is a challenge, with only two out of five businesses in APAC (36%, on par with 36% globally) measuring their sustainability efforts, and only 16% in APAC (17% globally) using measurement tools to optimise results.
Technology innovation tops investment agenda
Compounding the challenge are competing priorities executives in APAC face, with revenue priorities and authenticity the biggest barriers to sustainability progress. Executives in APAC are as likely as those in other regions to agree with the statement
“My organisation is more focused on revenue growth, even if it is more harmful to the environment” (37%, comparable to 38% globally). Authenticity is also top of mind, with over half (61% in APAC, 58% globally) reporting that their organisation is guilty of greenwashing, and roughly two-thirds (65% APAC, 66% globally) question how genuine or effective their organisation's sustainability initiatives are.
Tech innovation is the top area executives believe will impact the sustainable growth of their organisation and of the planet. Over three in four executives (79% in APAC, 78% globally) believe that technology helps transform operations, socialise initiatives, and measure and report on the impact of their efforts. Executives are putting their money and time where it matters—the top two investment areas for 2022 are technology (61% in APAC, 62% globally) and sustainability (50% in APAC, compared to 55% globally).
Uneven sustainability transformation
The survey reveals a divergence in sustainability agendas and progress within APAC, with Indonesia and Taiwan leading in prioritisation and best practices:
Organisational priorities and programs – the good and the bad
Sustainability is increasingly top of mind for executives around the world as they seek to protect the environment and make sustainability a growth driver. The good news is that it is still early on many companies’ sustainability journey, with the majority in the planning and early implementation phases of programming. The evidence points to technology as the path forward, enabling executives to narrow the gap between ambitions and impact.
