CIOs must seize opportunity to advance sustainability to deliver value, tangible outcomes and sustainable impact across their organizations
NEW YORK--(BUSINESS WIRE)-- As businesses set more ambitious environmental, social and governance (ESG) goals, their sustainability and technology strategies need to become more tightly aligned to gain competitive advantage, financial value and a lasting positive impact on society and the environment, according to new research from Accenture (NYSE: ACN). However, only 7% of respondents have fully integrated their business, technology and sustainability strategies today.
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As businesses set more ambitious ESG goals, their sustainability and technology strategies need to become more tightly aligned to gain competitive advantage, financial value and a lasting positive impact on society and the environment, according to new research from Accenture. (Photo: Business Wire)
All 560 companies surveyed as part of the report, Uniting Technology and Sustainability: How to Get Full Value From Your Sustainable Technology Strategy, ranked technology as important or very important for achieving their sustainability goals. While companies see clear value in having an integrated strategy, they cite a lack of solutions and standards (40%), complexity (33%) and lack of awareness of unintended consequences of technology (20%) as barriers to reaching their goals. This gap between intent and action leads companies to make trade-offs between business and sustainability goals – trade-offs that can be reduced or eliminated with a holistic, sustainable technology strategy.
Chief Information Officers (CIOs) can play a critical role in supporting their company’s overall transformation efforts and should have a seat at the table on sustainability decisions. But most do not. In fact, only 49% of CIOs are part of the leadership team setting sustainability goals, and just 45% are assessed on achieving these goals.
“Every business must be a sustainable business and technology is a critical and fundamental enabler –from improving transparency and traceability in global supply chains, to helping measure and reduce carbon emissions,” said Sanjay Podder, Technology Sustainability Innovation lead at Accenture. “It is no longer simply optional to put sustainability at the core of how organizations operate. A sustainable technology strategy – one that embeds sustainability in technology, drives sustainability by technology, and scales sustainability by engaging the ecosystem – will help companies deliver 360° value and contribute to the achievement of their broader sustainability goals.”
An effective sustainable technology strategy helps drive business growth and ESG performance by delivering on three key imperatives:
Podder added, “Creating and implementing a comprehensive sustainable technology strategy – one that uses technology to drive sustainability at scale while also making technology itself more sustainable – is now the core mission of the purpose-driven CIO. The responsibility is huge, but the opportunity to drive new sources of value and lead the way to a more sustainable future is even bigger.”
Accenture is committed to sustainability across each of the three imperatives, embedding sustainability in everything it does and with everyone it works with. In fact, 95% percent of Accenture’s applications are in the public cloud. A founding and steering member of the Green Software Foundation, Accenture is helping to set standards and catalyze action across industries. It has developed its own green software framework, tools and best practices, and has trained more than 70,000 of its developers on sustainable software engineering practices. Accenture also collaborates with partners—from the largest software and cloud companies to small, disruptive innovators—to help clients achieve their sustainability objectives and deliver outcomes.
Research Methodology The research was conducted in September and October 2021 via a web survey. The sample comprised of 560 CIOs, CTOs, chief sustainability officers, and those directly reporting to them (directors, VPs) from companies with more than US$1 billion revenue. The research spanned 12 countries and 11 industries.
About Accenture Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.
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Hannah Unkefer Accenture +1 206 839 2172 hannah.m.unkefer@accenture.com
Source: Accenture