Global Corporate Survey 2023: Net Zero Budgets, Priorities and Tech Preferences

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Executive Summary

This report, based on findings from the inaugural 2023 net zero and climate risk global corporate survey of 350 net zero leaders, provides a benchmark of net zero strategies against global peers. Net zero software and services suppliers can use the study to align product strategy with evolving demands of buyers across industries and geographies. The data were gathered via telephone interviews with corporate executives across 37 countries, representing 15 major business verticals. The report finds that net zero leaders anticipate a significant increase in spend on net zero initiatives in 2023, and are grappling with the challenge of implementing decarbonization measures across business operations. Concurrently, the report finds that digital strategies for net zero are yet to fully mature – signalling an exciting market opportunity for providers.

Table of contents

Global Survey Reveals Corporate Net Zero Strategic Priorities
Global Survey Features 350 Net Zero Executives Across Geographies And Industries
Sustainability Leaders Are Translating Net Zero Promises To Business Priorities
Climate Change Strategies Are Most Frequently Aimed At Gaining Competitive Advantage
Net Zero Target-Setting Dominated 2022 Climate Disclosures Work
Executives Will Prioritize Embedding Decarbonization In Operational Functions In 2023
Decarbonization Priorities Reveal The Need For Cross-Department Collaboration
Net Zero Strategies Still Lack Full Support From Accompanying Business Functions
Sustainability Leaders Control Large And Fast-Growing Budgets For Net Zero Progress
Most Firms Anticipate Double-Digit Spend Increases In 2023
Climate Change Digital Strategies Are Dominated By Carbon Management Concerns
Improving Carbon Data Quality Is The Top Digital Priority For Net Zero Leaders
Market Penetration Of Digital Technologies For Net Zero Use Cases Is Low

Table of figures

Figure 1. 85% Of Survey Respondents Represent Firms With Revenues Of $1bn Or More 
Figure 2. Survey Respondents Represent Five Core Geographical Regions
Figure 3. Survey Respondents Represent Industries With Varied Business Models
Figure 4. Corporate Emissions Profiles Reflect Core Business Models
Figure 5. Competitive Advantage Is The Most Common Climate Change Strategic Ambition
Figure 6. Brand Reputation Is The Most Important Factor Influencing Net Zero Strategies
Figure 7. The SBTi Was The Most Important Climate Disclosure Framework In 2022
Figure 8. Firms Will Prioritize Operational Decarbonization Over The Next Three Years
Figure 9. Most Firms Expect Scope 3 Data To Meet Financial Audit Requirements After 2025
Figure 10. Core Climate Change Functions Are Responsible For Corporate Net Zero And Climate Risk Strategies
Figure 11. Net Zero Strategies Are Challenged By A Lack Of Cross-Department Collaboration
Figure 12. More Than Half Of Respondents Anticipate Double-Digit Increases In Net Zero And Climate Risk Spend In 2023
Figure 13. CSOs Were The Chief Funders For Net Zero And Climate Risk Initiatives In 2022
Figure 14. Firms Expect Greatest Software Spend Increases On Carbon Accounting Use Cases Over The Next Two Years
Figure 15. Voluntary Carbon Reporting Is The Highest Priority Digital Use Case Over The Next Two Years
Figure 16. Respondents Prioritize Commercial Software Solutions For GHG Emission Reduction Use Cases
Figure 17. Majority Of Respondents Report Strong Support From IT Departments For Net Zero Strategies

About the authors

Connor Taylor

Senior Analyst
Connor is a Senior Analyst in the Verdantix Net Zero & Climate Risk practice. His current research agenda focuses on carbon management software, climate change consulting services, and the voluntary carbon markets. Connor joined Verdantix in 2021, with prior experience in EHS technology sales and development. He holds a BA from the University of Cambridge in Anglo-Saxon, Norse and Celtic.

Ryan Skinner

Research Director, Net Zero & Climate Risk
Ryan is the Research Director for the Verdantix Net Zero & Climate Risk practice. He guides the research team to develop compelling research at the intersection of net zero strategies, carbon management, climate risk and technology. Prior to joining Verdantix, Ryan was a principal analyst at Forrester Research, where he initiated the research into ESG data and analytics offerings. He also has extensive experience of helping software companies with their messaging, positioning, market and technology strategies. Ryan studied at Duke University, the University of Manchester and the University of Oslo, and speaks Norwegian fluently.

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