APAC CEOs Prioritize Sustainability as Key Growth Driver for 2024

79% of CEOs in the Asia-Pacific (APAC) region consider sustainability a prime business growth opportunity for 2024, according to a Gartner survey. This figure surpasses the global average, where 69% of CEOs deem sustainability crucial to their business strategies. The survey underscores that sustainability has become a top business priority, outstripping traditional metrics like productivity and efficiency.

Conducted between July and December 2023, the survey included over 400 CEOs and senior executives from various industries and regions, including North America, Europe, APAC, Latin America, the Middle East, and South Africa.

The survey revealed that CEOs are leveraging several methods to drive growth through sustainability: sustainable products and services (33%), sustainable business practices (18%), stakeholder engagement (18%), and decarbonization initiatives (18%). Digital investments and innovation, though important, were ranked lower at 8%.

Kristin Moyer, Distinguished Vice President Analyst at Gartner, highlighted the growing integration of environmental sustainability into long-term business strategies. She noted that despite potential economic pressures to revert to profit-centric models, the CEO’s commitment to sustainability remains strong. Moyer emphasized the role of digital technology in advancing sustainability goals, stating that it can go beyond compliance to help businesses meet targets, enable new models, and generate revenue.

The survey also indicated that 54% of CEOs reported that their businesses are affected by changing weather patterns. In response, 51% have planned or implemented operational changes. The most significant impacts were noted in operating dynamics (30%), including logistics such as warehousing and delivery scheduling. Additionally, relocations (14%) and advancements in automation, technology, and data (13%) were key areas affected by climate change.

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