57% of Surveyed Fortune 1000 C-suite Plan to Increase Sustainability Investments Despite Economic Uncertainties, Stem Survey Reveals
28 Junho 2023 - 9:30AM
Business Wire
Investor demand and revenue opportunities drive
C-suite leaders’ sustainability plans
Stem (NYSE: STEM), a global leader in artificial intelligence
(AI)-driven clean energy software and services, today announced the
results of a new survey that reveals Fortune 1000 C-suite leaders’
perspectives on and investment plans for sustainability. According
to the survey, despite current economic uncertainties and ongoing
energy challenges, a majority (57%) of leaders are increasing their
investments in sustainable solutions and clean technology. The
survey findings highlight a critical shift in the business
landscape, driven by two principal factors: (40%) investor demand
and (39%) the potential for new revenue sources. Investments in
sustainability technology, specifically AI-powered software and
clean energy storage solutions, emerged as a priority among Fortune
1000 leaders in the U.S. to tackle energy costs, decrease
emissions, and unlock new revenue streams.
Importantly, the urgency of sustainability investments was
confirmed with nearly all (93%) respondents agreeing energy
challenges will negatively impact their business in the next 12
months, and 99% are planning to focus on cleantech solutions over
the next 12 months to help address those energy challenges.
Leaders’ sustainability investments encompass many new
energy-efficient technologies and digital software solutions.
Fifty-three percent are specifically tapping the power of software
to improve efficiency. Above all, the survey showed that battery
storage (60%) and energy optimization software (60%) are the main
energy technologies that leaders are currently adopting or planning
to adopt. Thirty-five percent plan to combine these powerful
technologies together. Leaders also see data integration (53%),
artificial intelligence (AI) software (52%), and application
integration (51%) as top digital technologies they need to reach
their sustainability goals.
Beyond their core sustainability investments, leaders are also
taking advantage of new government legislation and policies: 92% of
leaders are using tax incentives offered by policies like the
Inflation Reduction Act. Over half (53%) have made minor
improvements to their existing sustainability initiatives based on
new policies and legislations, and 39% have started major new
initiatives. They are funding these projects with re-distributed
budgets (55%), incentives from utilities (50%) as well as federal
or state tax incentives (46%).
“Sustainability investments can fuel growth and better position
businesses for future success. In the short term, these investments
can save costs and counter the negative effects of energy
challenges, and in the long term they can provide an additional
revenue source,” said John Carrington, CEO of Stem. “Stem believes
that by integrating advanced clean energy technologies, businesses
are better able to achieve enhanced resilience, a competitive edge,
investor support, and long-term profitability, demonstrating that
the drive toward sustainability is not just a moral or social
commitment, but a key business strategy. At Stem, we’re seeing this
take shape as our customers, including multiple Fortune 500
companies, leverage our integrated, AI-driven solution to maximize
value across their clean energy assets that include battery
storage, solar, and EV charging.”
Conducted by Wakefield Research on behalf of Stem, the survey
highlights a critical shift in the business landscape, with
sustainability emerging as a true priority among Fortune 1000
C-suite leaders in the U.S. To view more results from the survey,
visit https://www.stem.com/lp/stem-sustainability-survey/.
Methodology
The Stem survey was conducted by Wakefield Research among 100
C-Level leaders at Fortune 1000 Companies, between March 24 and
April 4, 2023, using an email invitation and an online survey.
About Stem
Stem provides clean energy solutions and services designed to
maximize the economic, environmental, and resiliency value of
energy assets and portfolios. Stem’s leading AI-driven enterprise
software platform, Athena®, enables organizations to deploy and
unlock value from clean energy assets at scale. Powerful
applications, including AlsoEnergy’s PowerTrack, simplify and
optimize asset management and connect an ecosystem of owners,
developers, assets, and markets. Stem also offers integrated
partner solutions to help improve returns across energy projects,
including storage, solar, and EV fleet charging. For more
information, visit www.stem.com.
Source: Stem, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20230628230202/en/
For News Media:
Stem Investor Contacts Ted Durbin, Stem Marc Silverberg,
ICR IR@stem.com
Stem Media Contacts Suraya Akbarzad, Stem
press@stem.com
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