A new report by iResearch Services, a leading international thought leadership consultancy, reveals a lack of confidence in senior management within the technology industry on their companies’ sustainability efforts.
The Sustainability in Technology Report, which canvasses the views of 550 technology C-Suite executives from across 11 countries, found that 91% of respondents believe some, if not all, companies within the industry are guilty of greenwashing.
Nearly 9 in 10 (89%) of those surveyed say it is important that the public sees their company as being sustainable and ethical. In addition to benefitting from a regulatory perspective, 52 % of respondents expect to attract more customers from being sustainable, and 38% anticipate better financial returns.
However, there is a noticeable difference between the importance that CEOs give to sustainability (80%) and how content they are with the overall level of sustainability at their companies (65%).
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Other key findings from the report:
- The UK, Japan and Germany are leading the way, with more than half of organisations surveyed in these regions having a formal sustainability commitment in place.
- Out of the countries canvassed regarding the same criteria, France (35%) and China (36%) rank the lowest.
- Technology companies cite cost (39%), time constraints (38%) and speed of initiatives (34%) as the biggest challenges in addressing accessibility, diversity and inclusion in their organisations.
Yogesh Shah, CEO of iResearch Services, said, “Our latest Sustainability in Technology report reaffirms the emphasis of the C-Suite on sustainability issues but shows that we are still significantly far off from where we need to be. With COP27 starting this week the eyes of the world are once again on governments and political representatives as well as members from the private sector to move the needle in the world’s response to climate change.
“What remains clear is the need for private capital to do more. The tech industry represents one of the fastest growing sectors globally and the emphasis within the sector has always been one of growth and innovation. This report highlights how that needs to change, with that focus shifting to sustainability issues.”
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