Carrier Global Corporation Survey: U.S. Companies Prioritize Building Decarbonization as Sustainability Spending Rises

Building decarbonization is becoming a major focus for U.S. companies as they ramp up efforts to combat climate change, according to a recent survey conducted by Carrier Global Corporation. The survey, which gathered responses from over 200 C-suite executives, revealed that 83% of U.S. executives plan to increase their sustainability spending over the next two years. Among those surveyed, 57% identified sustainability as a top priority, while 52% specifically emphasized decarbonization as a key focus.

The survey, conducted in July 2024, underscored the increasing importance of building decarbonization, with executives ranking it as the highest priority in their sustainability strategies through 2025. Despite the challenges, companies are committed to this effort as part of their broader environmental initiatives.

David Gitlin, Chairman and CEO of Carrier, stressed the multifaceted benefits of investing in climate change solutions. He noted that addressing environmental concerns not only benefits the planet but also brings value to investors, customers, and the companies themselves.

Government incentives play a crucial role in driving these sustainability initiatives. However, the survey revealed that 81% of respondents would continue or even increase their investments in sustainability, regardless of potential changes to legislative support such as the Inflation Reduction Act (IRA). This shows a strong commitment to sustainability, even amid regulatory uncertainties.

Despite these positive developments, only 44% of executives expressed strong confidence that the global net-zero goals outlined in the Paris Climate Accord would be met by 2050, highlighting ongoing challenges in reaching decarbonization targets.

The survey also pointed to differences in how various C-suite roles view sustainability. Chief Sustainability Officers (CSOs) are more focused on actionable items such as decarbonization and navigating new ESG regulations. Meanwhile, CEOs and CFOs are more concerned with overarching business priorities. This divergence highlights the growing responsibility of CSOs to lead sustainability efforts within their organizations.

Gitlin also emphasized the broader role of corporate America in driving the sustainability agenda. According to the survey, 85% of executives believe that businesses have a responsibility to lead sustainability actions in the U.S.

As part of its ongoing commitment to climate action, Carrier will host an event during Climate Week in New York City on September 24 titled “Reimagining the Built Environment for a Net Zero Future.” This event will bring together sustainability leaders, business executives, public officials, and investors to discuss the future of climate initiatives and building decarbonization.

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