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More than two thirds of companies planning to upskill workforce for climate change megatrend

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:

🗞️ Driving the news: PwC's 27th Annual Global CEO Survey reveals that over two-thirds of CEOs are focusing on upskilling their workforce to address climate change
They are also innovating climate-friendly products, with an increased emphasis on long-term megatrends over near-term economic concerns

🔭 The context: The survey, which included over 4,700 CEOs across 105 countries, shows a shift in CEO priorities towards climate change and technological disruption
Less than half anticipate economic decline, contrasting with last year's 73%. There's a notable trend towards reinventing business models for long-term viability

🌍 Why it matters for the planet: CEOs are increasingly recognizing climate change as a critical driver of business transformation
Initiatives include improving energy efficiency and developing new climate-friendly technologies, reflecting a broader commitment to sustainable practices in the business world

⏭️ What's next: Businesses are expected to continue transforming their models, integrating climate change strategies more deeply into their operations
This includes investments in technology and workforce upskilling, aiming for long-term viability and sustained value amidst evolving global challenges

💬 One quote: "This year’s data suggests a high degree of CEO uncertainty ahead, but CEOs are taking action. They are transforming their business models, investing in technology and their people, and managing the risks and opportunities presented by the climate transition," (Bob Moritz, Global Chair, PwC)

📈 One stat: Over 40% of CEOs report setting a lower hurdle rate for climate-friendly investments, indicating a willingness to accept lower returns for sustainable initiatives

Click for more news covering the latest on sustainable business

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