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Executive Summary

This report helps EHS executives benchmark their firms’ budgets, investment priorities and technology preferences relative to their global peer group. The data collected through the Verdantix survey also provide context and evidence for strategic decision-making and long-term planning by EHS consulting and technology providers. The 2023 version of the annual global Verdantix EHS survey spanned 30 countries and 25 industries. Of the 301 respondents, 75% represented firms with revenues greater than $1 billion and 67% held titles of director or above. Respondent data indicate increased spending over the next 12 months, with more than 75% of participants noting a rise in amounts directed towards new or ongoing projects. Higher budgetary expenditure stems from continued and accelerating pressure around environmental concerns and ESG reporting mandates. Firms are also applying novel technology such as AI across multiple use cases, and taking steps to confront and address evolving risks. Verdantix expects the pace and breadth of EHS technology adoption to continue to grow across the digital landscape. 

Table of contents

Global survey shows EHS budgets and priorities shaped by economic recovery and continued ESG focus
Annual global survey features 301 EHS executives across 25 industries
The EHS function continues to evolve, to address new challenges
EHS function remains a key player in achieving corporate ESG initiatives, but challenges still plague integration
Firms seek a consolidated EHS platform to meet diverse strategic goals
EHS function sees broad applications of software for traditional processes
Novel digital technology penetration continues, as innovation opens up new opportunities for EHS enhancement
Recovering economic situation drives rebounding EHS budgets
EHS budgets shift away from COVID-19 response, with a surge towards ESG and safety
AI incorporation remains a priority across multiple use cases
Risk vectors are increasingly weighed for EHS inclusion

Table of figures

Figure 1. Industry categorization of firms 
Figure 2. Geographic location of respondents 
Figure 3. EHS priority areas for the next two years
Figure 4. Granular EHS contribution to ESG initiatives
Figure 5. Changes in spending directed towards ESG and sustainability initiatives
Figure 6. Barriers to improving ESG performance
Figure 7. EHS digitization strategies over the next two years
Figure 8. Drivers for EHS IT system consolidation
Figure 9. Adoption of software by EHS process in 2024
Figure 10. Digital technology adoption in 2024
Figure 11. Change in EHS spend over the next 12 months
Figure 12. Internal EHS investment case criteria
Figure 13. Change in spend across EHS categories in 2024
Figure 14. AI EHS use cases by importance
Figure 15. Risk management importance by category

About the authors

Bill Pennington

VP Research, EHS & Risk Management
Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management, evaluating emerging strategic risks and benchmarking technology buyers’ budgets, priorities and preferences globally.

Rain Chiang

Rain is an Analyst in the Verdantix EHS practice. His current research agenda focuses on the intersection between EHS and ESG priorities. Prior to joining Verdantix, Rain gained consulting experience from internships at EY and P&G. He holds an MA in Economics and Politics from the University of Edinburgh.

Nathan Goldstein

Senior Analyst
Nathan is a Senior Analyst in the Verdantix EHS practice out of the New York office. His current research agenda focuses on the intersection of sustainability and ESG trends within the EHS operational sphere. Prior to joining Verdantix, Nathan worked at Bluefield Research, where he covered the global water industry, with a focus on the energy, industrial and digital segments. Nathan holds a MSc in Water: Science and Governance from King’s College London.

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