Global Corporate Survey 2023: ESG & Sustainability Budgets, Priorities And Tech Preferences

Global survey reveals priorities and tech preferences of ESG and sustainability executives
Global survey features 400 executives across geographies and industries
ESG and sustainability commitments are a clear and strategic priority
Firms’ ESG and sustainability strategies are maturing
A variety of drivers are influencing corporate ESG commitment
Several challenges impede ESG and sustainability performance improvement
Chief Sustainability Officers are the principal ESG and sustainability decision-makers, but other functions play a critical role
The C-Suite defines and funds ESG and sustainability strategy
Beyond ESG teams, other functions emerge to define, influence, implement and provide data for sustainability strategy
Despite a difficult macroeconomic climate, ESG and sustainability budgets are increasing, driven primarily by ESG regulations
Mandatory and voluntary ESG reporting and frameworks are influencing sustainability spending
ESG and sustainability consulting budgets are set to increase
Investments in ESG and sustainability software will rise as regulations roll in, but many firms still rely on manual processes

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. Approaches to materiality
Figure 6. Approaches to increasing ESG and sustainability commitment
Figure 7. Drivers behind increased commitment to ESG and sustainability
Figure 8. Top challenges faced by firms
Figure 9. Decision-makers responsible for defining ESG strategies
Figure 10. Decision-makers responsible for funding ESG strategies
Figure 11. Business functions responsible for implementing ESG strategies
Figure 12. Required data for sustainability performance improvement
Figure 13. Funding priorities for processes
Figure 14. Significant rules and frameworks
Figure 15. Spend on consulting services for 2024 compared with 2023
Figure 16. Priorities when selecting a consulting provider for ESG and sustainability initiatives
Figure 17. Approaches to managing ESG and sustainability use cases
Figure 18. Technology to support sustainability strategy
Figure 19. Projected spend change on software categories in 2024
Figure 20. Priorities when selecting a software provider for ESG and sustainability initiatives