Intelligent CIO APAC Issue 30 - Page 75

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THE C-SUITE IS READY FOR A SUSTAINABLE FUTURE – TECHNOLOGY WILL GET THEM THERE

More companies are focusing on sustainability than ever before . Alister Dias , Vice President , Google Cloud Australia and New Zealand , takes a look at how intentions may not be translating into desired outcomes , as well as providing some possible solutions to improve ESG success .

Up against the increasingly adverse effects of climate change , Australians are calling on real action from businesses to reduce their impact on the environment .

With 40 % of consumers believing a company ’ s social and environmental efforts are very or extremely important when purchasing products or services , changing customer attitudes are beginning to impact the bottom line . This mounting public concern over climate action is pushing corporate leaders towards green opportunities to improve sustainability outcomes .
Recent research from The Harris Poll for Google Cloud found Environmental , Societal and Governance ( ESG ) initiatives are a top priority for global executives , with 80 % of 1,500 executives surveyed giving their organizations an above-average grade on sustainability efforts .
But there is a disconnect between this above-average grade and reality .
Despite increased spending and the belief reported by 86 % of executives surveyed that their efforts are advancing sustainability , two-thirds question how genuine their organization ’ s sustainability initiatives are . Further to this , only one-third of organizations have measurement tools in place to quantify their efforts .
While progress is being made , the uncertainty on display begs the question ; what is the true impact of these sustainability efforts and what is holding organizations back from converting intention to action ?
Barriers including cost , lack of understanding and conflicting business priorities all impact an organization ’ s ability to execute climate strategy , but
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