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Nearly 70% of CEOs in APAC are boosting energy efficiency: PwC
More than half have introduced climate-friendly innovations.
Around 68% of Asia Pacific CEOs have actively enhanced their energy efficiency to address climate change, PwC found.
In its 27th Annual Global CEO Survey - Asia Pacific: Leading through accelerated reinvention, it was also revealed that 51% have introduced climate-friendly innovations.
Moreover, PwC reported that one in five CEOs are not currently pursuing other types of action related to climate, such as adaptation, nature-based, or ‘just transition’ solutions.
Asia Pacific CEOs have cited regulatory complexity (63%) and lower economic returns for climate-friendly investments (61%) as the biggest barriers to sustainability drives.
Despite this, PwC saw an increase amongst CEOs that have accepted lower returns for climate-friendly investments at 51%, which is 10% higher than global CEOs.
“Our CEO survey this year serves as an urgent and powerful call to intensified action towards business reinvention. Persistent geopolitical conflicts and inflationary worries, amongst other challenges, have really dug in, amplifying the risks and constraining growth in Asia Pacific,” Raymund Chao, PwC Asia Pacific and China Chairman, said.
“Simultaneously, global megatrends including technological shifts - exemplified by the rise of GenAI - and climate-related issues are increasingly demanding CEOs’ attention. In a constantly evolving market, businesses must embrace a culture of continuous innovation to not only sustain their competitive edge but also ensure long-term viability.”
