The latest edition of the Environmental Sustainability Index, released in July 2023, indicates that companies are increasing investments toward sustainability efforts such as improving energy efficiency.
The Environmental Sustainability Index, a quarterly report released by Honeywell in partnership with The Futurum Group, surveys more than 700 professionals involved with their companies’ environmental sustainability efforts to provide insights on how businesses are prioritizing sustainability investments and approaching sustainability priorities.
In an episode of “The Future Is…” podcast, Honeywell Chief Commercial Officer John Waldron discussed how the Environmental Sustainability Index can help identify trends and increase transparency about sustainability efforts among future-focused companies.
Watch below to learn more, and keep reading for insights from the latest report.
What's new in the Q3 2023 Environmental Sustainability Index? Here's a preview of the top trends:
Political and regulatory factors have led companies to focus more on sustainability
Seven in 10 surveyed companies said the political and regulatory environment has had a positive impact on their sustainability initiatives in the past 12 months.
Energy and manufacturing companies are prioritizing sustainability in the short-term
Approximately 80% of global manufacturing and energy companies say sustainability is their most important initiative for the next six months.
Globally, companies are prioritizing making their operations more energy efficient
Among four categories of sustainability efforts – energy evolution and efficiency, emissions reduction, pollution prevention, and circularity/recycling – respondents said that energy efficiency is a focus area for their companies, with 87% of respondents citing it as a priority.
Overall, companies are increasing their sustainability investments
Of the 750 global companies surveyed, 86% indicated that they plan to increase their sustainability budgets in the coming year.
More organizations report taking a combination of technology- and process-driven approaches to achieve their sustainability goals
The Environmental Sustainability Index surveys respondents on how much they are using technology or changing processes to make progress in four categories of sustainability. The findings from the Q3 2023 index, compared to Q2 2023 results, show that companies are continuing to take a process-driven approach to sustainability initiatives but the number of companies who reported combining technologies with processes is increasing.
For more insights, download the full Environmental Sustainability Index.