Quarterly Index reveals a growing number of
organizations globally are boosting annual sustainability
investments by at least 50%, and are optimistic about achieving
short- and long-term objectives
CHARLOTTE, N.C., Nov. 1, 2023
/PRNewswire/ -- More than six in 10 organizations globally (62%)
say recent wildfires, floods, and storms during 2023 will have
a material impact on their environmental initiatives, according to
the fifth edition of Honeywell's Environmental Sustainability Index
(ESI.) Another 45% admit the extreme heat will have or has already
had a material effect on their near-term plans. Compiled quarterly
by Honeywell (NASDAQ: HON) and The Futurum Group, the ESI gauges
movement in corporate sentiment and investment on the
sustainability front.
"The extreme weather events this year have increased the sense
of urgency for immediate action at organizations," said
Gavin Towler, Chief Scientist for
Sustainability and Chief Sustainability Officer at Honeywell. "As a
result, we should expect to see more organizations looking to
accelerate their sustainability efforts and, in particular,
adopting a technology-driven approach to their energy transition
plans."
The findings shed light on the plans and progress made in
sustainability efforts across regions and industry sectors:
- Nearly nine in 10 (88%) organizations are planning to increase
their budgets for energy evolution and efficiency initiatives.
- Almost three-quarters (73%) of organizations are at least
somewhat optimistic about achieving near-term goals, up from 62% a
year ago. The energy sector shows the highest level of confidence
among the industries covered in the study.
- Nearly one in five organizations are now taking a
technology-driven approach to their sustainability initiatives –
the highest percentage since the launch of the Index.
- Ninety-two percent of respondents have an ESG reporting process
in place, while 30% say the responsibility resides in the
C-suite.
Honeywell's quarterly Index measures corporate sustainability
commitment globally in aggregate. It also compiles data to gauge
activity in four specific sustainability areas: energy evolution
and efficiency; emissions reduction; pollution prevention; and
circularity and recycling. The Index further breaks down its
findings by four regions (Asia
Pacific, EMEA, Latin
America and North America)
and eight industry sectors (banking, consumer goods, energy,
government/public sector, healthcare, technology,
manufacturing/construction and transportation/logistics.)
Daniel Newman, CEO of The Futurum
Group, said, "The data is showing that organizations in the public
and private sectors are actively forming frameworks to partake in
either policy-driven or investment and technological-oriented
action in effort to address the global objectives in environmental
sustainability."
To download the full index and survey report, please visit here:
Honeywell ESI.
Methodology
The Environmental Sustainability Index is based on a global
double-blind survey of 751 business, technology, and sustainability
professionals directly involved in the planning, strategic
development, implementation, or oversight of environmental
sustainability goals and initiatives. Panelists were required to be
in a leadership role within their organization, with organizations
required to have a minimum of 1,000 active employees. This survey
was conducted during Q3 of 2023. The first edition of the survey
was conducted during Q2 and Q3 of 2022; the second edition was
conducted in Q4 of 2022; the third edition was conducted in Q1 of
2023 and the fourth edition was conducted in Q2 of 2023.
About Honeywell
Honeywell is an integrated operating company serving a broad
range of industries and geographies around the world. Our business
is aligned with three powerful megatrends – automation,
the future of aviation and energy transition
– underpinned by our Honeywell Accelerator operating
system and Honeywell Connected Enterprise integrated software
platform. As a trusted partner, we help organizations solve
the world's toughest, most complex challenges, providing actionable
solutions and innovations that help make the world smarter, safer
and more sustainable. For more news and information on Honeywell,
please visit www.honeywell.com/newsroom
About The Futurum Group
The Futurum Group (www.futurumgroup.com) is an independent
research, analysis, and advisory firm, focused on digital
innovation and market-disrupting technologies and trends. Every day
our analysts, researchers, and advisors help business leaders from
around the world anticipate tectonic shifts in their industries and
leverage disruptive innovation to either gain or maintain a
competitive advantage in their markets.
Disclaimer:
The information presented in this document is intended solely for
informational purposes and not as advice or recommendations for any
particular action or investment. The information should not be
relied upon, in whole or in part, as the basis for decision-making
or investment purposes. The document and its contents are not
guaranteed as to accuracy or completeness and are provided on an
"as is" basis. Use of this information is at your own risk.
Honeywell disclaims all warranties as to the accuracy,
completeness, or adequacy of such information and shall have no
liability for errors, omissions, or inadequacies in such
information. This document includes opinions that should not be
construed as statements of fact. Any opinions expressed herein are
subject to change without notice. Any forecasts and forward-looking
statements are directional indicators, are not predictions of
future events, and do not in any way reflect expectations for (or
actual) Honeywell operational or financial performance. Any
forecasts and forward-looking statements represent our current
judgment and are subject to risks and uncertainties that could
cause actual results to differ materially. You are cautioned not to
place undue reliance on these forecasts and forward-looking
statements, which reflect our opinions only as of the date of
publication of this document. Honeywell is not obligated to revise
or publicly release the results of any revision to these forecasts
and forward-looking statements in light of new information or
future events.
Media Contacts:
Mary-Ellen Harn
(704) 816-0713
MaryEllen.Harn@honeywell.com
Bill Ruff
314-369-7415
bruff@futurumgroup.com
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SOURCE Honeywell