According to ESG Today, 83% of the surveyed executives said that their companies plan to increase sustainability investments, however, this marks a slight decrease from the last quarter's 87% and even more from the 90% reported half a year ago.
Compared to previous reports, this time around executives claim that sustainability is among the top priorities for investments, supposedly being the first thing they plan to invest in over the next six months in 75% of the cases.
Thus, Vimal Kapur, President and Chief Operating Officer of Honeywell, said that "our data shows that companies aren’t wavering in their commitment to sustainability. Not only are leaders keeping it at the top of the priority list despite other looming challenges, but they are also increasingly taking actions."
Despite certain challenges, 13% of the respondents say that their companies plan to keep sustainability investments going at the same rate as before, while only 3% will reduce sustainability financing.
Regarding what the money will be used for, 85% of the executives plan to increase the investments in better energy efficiency for their businesses, 81% will spend more on emissions reduction and 82% will put money towards circularity and recycling.
Evan van Hook, Chief Sustainability Officer of Honeywell, added that "companies are continuing to invest in technology that helps them achieve their environmental sustainability goals. We are seeing firsthand our customers take action to achieve goals, whether it’s switching to sustainable aviation fuel, tracking and reducing carbon emissions from buildings, or increasing advanced circularity solutions, such as plastics recycling."