In the overcrowded market research and survey sector the PwC CEO survey stands out and has everyone in the media waiting eagerly for its findings. As it seeks the opinions of more than 4,700 CEOs in 105 countries it has earned the right to be seen as defining. Thanks to the excellent reporting skills of ESG Today and EDIE, the EBN can fulfil one of our mandates (resource investigator) and direct you to the full articles but, if you don’t have time here are some of the things that stood out for us.
ESG Today reported “A significant majority of CEOs are planning, currently undertaking, or have already completed a series of actions to prepare their companies to address the risks and opportunities presented by climate change, including two thirds looking to upskill or reskill their workforce, (with) more than three quarters innovating new, climate friendly products or services.”
Interestingly the article went on to say that “an increasing number of CEOs (are) reporting that they are less confident in their companies’ viability over the next decade on their current path – 45% vs 39% last year – leading to increased initiatives to reinvent their business models.” In other words they need to change their own behaviour and change it fast! So, if these are words of warning from corporate leaders, what are the implications for their suppliers?
Respondents listed climate change as having one of the most significant increases as a factor driving change in the way their companies will create, deliver and capture value, with 30% of CEOs anticipating a “large” or “very large” change over the next three years, compared to only 22% over the past 5 years.
EDIE’s headline ran “Climate crisis forcing quicker business reinvention, thousands of CEOs say”.
In a slightly more hard-hitting tone they went on to report “Almost half of chief executives believe that their business will cease to exist within a decade without reinvention, with the climate crisis being a major driver of physical, reputational and competition-related risks.
Climate was identified as a core driver of the need for business reinvention along with macroeconomic volatility and technological disruption.
Many are foreseeing changes to their supply chains and preparing to offer different products and/or services.
Six in ten of the chief executives said their business has already launched one or more new products, services or technologies with either a lower emissions footprint or another climate-related benefit.”
Anyone still in any doubt that massive changes in how we do business are coming?