The survey also found that 93% of companies surveyed have sustainability reporting mechanisms in place, and 82% are optimistic that their reporting methods will meet the disclosure requirements that are likely to be introduced next year. However, when it comes to reporting process management, only 38 percent of companies say they have a dedicated staff or team focused on tracking sustainability progress.
86% of companies plan to increase investment in sustainability
Companies are increasing their budgets in four main focus areas: energy development and efficiency, emission reduction, pollution prevention and recycling
About 80% of multinational companies in the manufacturing and energy sectors say sustainability is their top priority over the next six months
Based on a double-blind survey of 751 business, technology and sustainability professionals worldwide, the Environmental Sustainability Index reflects key trends, attitudes and progress in global climate change mitigation action and other sustainable development initiatives.
As one of the world's leaders in energy and climate transition solutions, Honeywell hopes to tap into the ideas and experiences of these sustainability "pioneers" to help more companies successfully implement sustainable practices.
Latest data interpretation
Sustainable practices are steadily advancing
According to the latest Honeywell Environmental Sustainability Index, sustainability is now a priority for manufacturing and energy companies - with about 80 percent of companies identifying sustainability goals as their top priority over the next six months. These companies say sustainability takes precedence over other priorities, including financial performance, market growth and talent development.
Large multinational corporations are steadily investing in technology and people to achieve their environmental sustainability goals, as evidenced by the latest edition of the Environmental Sustainability Index. Sustainability is a top concern for corporate decision makers, who are motivating senior management to increase engagement and initiative to achieve goals.
-- Honeywell's Chief sustainability officer
Evan van Hook
The survey also found that 93% of companies surveyed have sustainability reporting mechanisms in place, and 82% are optimistic that their reporting methods will meet the disclosure requirements that are likely to be introduced next year. However, when it comes to reporting process management, only 38 percent of companies say they have a dedicated staff or team focused on tracking sustainability progress.
The fourth Honeywell Environmental Sustainability Index provides a new perspective on how companies report and track the progress of their sustainability commitments. This quarter, we saw an uptick in companies investing in sustainability and transparency in their work, as well as taking a combined approach to technology and process in achieving their goals.
The Honeywell Environmental Sustainability Index shows that investment in sustainability is growing and continuing, in part because of the political and regulatory environment:
Of the 751 global companies surveyed, 86% said they plan to increase their sustainability budgets.
Seventy percent of companies surveyed said the political and regulatory environment has been favorable for their sustainability initiatives over the past 12 months.
Up to 74% of respondents expressed optimism about achieving the SDGS, but this figure is 3 percentage points lower than the previous index.
The budget increase is focused on four main sustainability categories: energy development and efficiency, emission reduction, pollution prevention and recycling.
Accelerating energy development and improving efficiency is the top sustainability commitment for companies in all regions of the world, with 87 percent of respondents identifying it as a priority.
About 25 percent of Latin American companies and 20 percent of EMEA companies plan to increase their investment in energy development and efficiency by at least 50 percent over the next 12 months, outpacing the budgeted growth rates of companies in North America and Asia Pacific.
With the continuous deepening of the concept of sustainability, Honeywell believes that more and more companies are destined to join the ranks of sustainable development, and many partners in this development road.
For Honeywell itself, we have also been an active practitioner of sustainability - reducing the greenhouse gas intensity of our operations and facilities by more than 90 percent since 2004. Honeywell also committed to working with the SciEnce-Based Carbon Target Initiative (SBTi) to develop science-based reduction targets that include other indirect greenhouse gas emissions from the value chain, known as "Scope three" emissions.
Honeywell is gradually delivering on its corporate sustainability commitments to ultimately achieve carbon neutrality in its operations and facilities by 2035. At the same time, we are helping our customers achieve their sustainability goals with proven solutions.
