Deloitte Survey Reveals Over Half of Middle East C-Suite Executives Leverage Technology to Drive Climate Action
Deloitte Middle East unveiled the key findings from its 2024 CxO Sustainability Report during a roundtable at the ongoing Future Sustainability Forum, held at Madinat Jumeirah on December 4 and 5. As a Platinum Sponsor of the event, Deloitte brought together global innovators to discuss solutions under the theme "Shaping Greener Economies," addressing critical environmental challenges such as renewable energy, circular economy practices, and climate resilience.
The report, based on a survey of over 2,100 C-suite executives across 27 countries, reveals a significant shift in corporate priorities, particularly in the Middle East. A noteworthy 92% of global executives believe their companies can grow while reducing greenhouse gas emissions, demonstrating the alignment between business success and climate action. In the Middle East, 54% of businesses have fully transformed their models to embed sustainability into their core strategies, surpassing the global average of 45%.
Key findings include:
- Increased Investment in Sustainability: 66% of Middle Eastern organizations reported a slight increase in sustainability investments, with 19% significantly boosting budgets by over 20%. This trend exceeds the global average, where 85% of CxOs globally reported a rise in sustainability investments.
- Climate Change Priority: 73% of Middle Eastern executives view climate change as a significant factor affecting strategies and operations over the next three years, above the global average of 70%. Additionally, 43% rank climate change among the top three most pressing issues for the coming year.
- Focus on Climate Equity: 67% of Middle Eastern executives emphasize climate equity in their sustainability efforts, particularly workforce retraining for green jobs and engaging vulnerable communities.
- Technology-Driven Action: 50% of global CxOs have already implemented technology solutions to achieve environmental goals, with another 42% planning to do so within two years. Middle Eastern businesses are leading in this area, with a high focus on AI-driven climate innovation.
Despite these advances, challenges remain, with 27% of organizations taking minimal or no meaningful actions towards sustainability. Barriers identified include increased insurance costs, lack of sustainable solutions, and stakeholder alignment issues. However, Middle Eastern companies are seeing tangible benefits from climate action, including improved employee morale (43%), talent retention (41%), and operational resilience (36%).
Daniel Gribbin, Sustainability Growth Lead at Deloitte Middle East, highlighted the report’s findings, stating, "Climate action is no longer just about compliance or a moral imperative—it is a driver of innovation, resilience, and long-term growth. Platforms like the Future Sustainability Forum foster the collaboration needed to tackle environmental challenges."
The roundtable also featured insights from business leaders, including Farrukh Shad from Schneider Electric and Keiichi Aritomo from FinCity Tokyo. With Danielle Bistacchi from Emperor moderating, the panel discussed the opportunities and challenges in adapting to a low-emissions economy.
Deloitte’s involvement as a Platinum Sponsor underscores its commitment to shaping global and regional sustainability conversations. Gribbin added, “Sustainability is a collective effort. Governments, businesses, and communities must unite to pave the way to greener economies.”
