Global Corporate Survey 2022: ESG & Sustainability Budgets, Priorities And Tech Preferences

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Executive Summary

This report, based on a global survey of 400 respondents, is designed to assist senior executives in benchmarking their firms' budgets, investment priorities and technology preferences relative to their global peer group. The data collected through the Verdantix survey also support strategic decision-making and business planning by executives at ESG and sustainability consulting and technology providers. The data were gathered via telephone interviews with executives from 35 countries and 30 industries between July and September 2022. Respondent data reveal increased maturity in corporates' commitment to ESG and sustainability, with expanding budgets for ESG and sustainability services and software in 2023.

Table of contents

Global Survey Reveals Priorities And Tech Preferences Of ESG And Sustainability Executives
Global Survey Features 400 Executives Across Geographies And Industries

ESG And Sustainability Is Becoming A Clearly Defined And Articulated Priority
Firms’ ESG And Sustainability Approaches Are Maturing And Becoming More Integrated Within Their Business
Reputational Pressure, More Buy-in From The C-Suite And New Climate Disclosure Rules Are Driving ESG Commitment And Spending Among Corporates

New Players Emerge, But Chief Sustainability Officers Lead On Sustainability Decisions
The C-Suite Continues To Play A Significant Role In Defining Sustainability Strategy And Spend 
Other Business Functions Help Define, Influence, Implement And Provide Data For ESG And Sustainability Strategy

Despite Economic Uncertainties, ESG And Sustainability Budgets Are Rising, Driven Predominantly By Climate Risk Disclosures
Mandatory And Voluntary ESG Reporting Are Major Driving Forces For ESG Budgets
Firms Expect Increases In ESG And Sustainability Consulting Budgets In 2023
Market Adoption Of ESG And Sustainability Software Solutions Is Expanding, But Still Immature 
Spend On ESG Software Is Set To Increase In 2023 As Regulatory And Stakeholder Pressure Mounts

Table of figures

Figure 1. Survey Respondent Firm Size Breakdown
Figure 2. Survey Respondent Geographical Breakdown
Figure 3. Survey Respondent Industry Breakdown
Figure 4. ESG And Sustainability: Level Of Commitment
Figure 5. ESG And Sustainability: Future Integration Into Business Decision-Making
Figure 6. ESG And Sustainability Definitions
Figure 7. Drivers Behind Increased Commitment To ESG And Sustainability
Figure 8. Decision-Makers Responsible For Defining ESG Strategies
Figure 9. Decision-Makers Responsible For Funding ESG Strategies
Figure 10. Business Functions Responsible For Implementing ESG Strategies
Figure 11. Rules And Frameworks That Influence ESG And Sustainability Spending
Figure 12. ESG And Sustainability Processes Funding Priorities
Figure 13. ESG And Sustainability Consulting Services Spending Priorities In 2023
Figure 14. Priorities When Selecting A Consulting Provider For ESG And Sustainability Initiatives
Figure 15. Technology Approaches To Manage ESG And Sustainability Use Cases
Figure 16. Priorities When Selecting A Software Provider For ESG And Sustainability Initiatives
Figure 17. Projected Spend Change On Software Categories In 2023

About the authors

Alessandra Leggieri

Industry Analyst
Alessandra Leggieri is an Industry Analyst in the Verdantix Net Zero & Climate Risk practice. Her current research agenda focuses on solutions for GHG emissions and net zero management, covering technologies and services. Prior to joining Verdantix, Alessandra completed an MSc in Environmental Technology at Imperial College London.

Lily Turnbull

Industry Analyst
Lily is an Industry Analyst in the Verdantix ESG & Sustainability practice. Her current research agenda focuses on ESG and sustainability services, ESG assurance, and sustainable finance. Lily joined Verdantix in 2022 and has previous experience in social impact research and ESG software development. She holds an MSc in Women, Peace & Security from the London School of Economics and Political Science and a BA in Theology & Religion from the University of Bristol.

Kim Knickle

Research Director, ESG & Sustainability
Kimberly Knickle is Research Director of the ESG & Sustainability practice at Verdantix. Her research areas encompass ESG regulations and reporting, ESG risk, supply chain sustainability, circular economy, social impact, and sustainable finance. Kim has worked for more than 20 years in the IT industry, providing research and analysis to help companies invest wisely in new technologies. Before joining the analyst industry, she held various roles in IT services, engineering and product safety testing, beginning her career at Underwriters Laboratories, Inc. Kim holds an MBA from Boston University and a BS in Electrical Engineering from Cornell.

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