Sustainable Business Redefined: Resilience and Opportunity

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Sustainable Business Redefined: Resilience and Opportunity

14 February 2024 / Report

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Since 1999, The Conference Board has surveyed CEOs and later C-Suite executives across the globe to identify the most critical issues they face and the strategies they are developing to meet them. This report examines the perspectives of European C-Suite executives on sustainable business issues.

Trusted Insights for What’s Ahead™

Facing increased regulation and reporting mandates, European C-Suite executives are focused on the environmental aspect of sustainability. European C-Suite executives have zeroed in on carbon and greenhouse gas (GHGs) emissions, the transition to renewable energy, and climate as their top three 2024 ESG priorities. They give higher precedence to the environmental aspects of sustainability compared to their counterparts from other regions. To address these priorities, executives will need multifaceted strategies encompassing clean energy investments, sustainable practices throughout the value chain, and measurable emissions reduction pathways.
The drive to foster sustainable and resilient supply chains will continue. Almost 70% of European C-Suite executives say their organizations either plan to alter their supply chains in the next 3-5 years or have already done so. Despite the recent turbulent years in supply chain management, EU executives are displaying cautious optimism, with 61% feeling prepared or well-prepared for potential disruptions in their supply chains in 2024. They say they will prioritize building environmentally and socially responsible supply chains while complying with the EU Corporate Sustainability Due Diligence Directive.

As European businesses lead the way with AI implementation, responsible governance is essential. One-third of CEOs in Europe say their organizations have already integrated AI into their operations. While AI might not as yet affect or reshuffle the top ESG priorities, the urgency for establishing clear governance and AI usage policy is becoming essential to ensure its ethical and beneficial use and meet future regulation.

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Authors

Paula Byrne

Program Director, ESG Center, Europe
The Conference Board

Manali Paranjpe

Manali Paranjpe

Program Director, ESG Center, Europe
The Conference Board

Ioannis Siskos

Senior Research Fellow, Environmental, Social & Go…
The Conference Board

Anuj Saush

ESG Center Leader, Europe
The Conference Board

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