Although there is concern among company CEOs around the world that they will not be able to meet their targets, they are concerned that they may not be able to Sustainable Development Goals the UN's 2030 target date, they see in the sustainability an opportunity to reinvent their business models, emphasizes the Twelfth UN Global Compact and Accenture CEO Survey.

The study is based on the views of more than 2,600 CEOs from 18 countries, 18 industries and more than 130 in-depth interviews, making it the largest study in the world with the opinions of the most senior executives.

"Falling short of the promise of achieving the SDGs is a real concern, but, at the same time, it is a great opportunity for companies to reinvent their business models and make sustainability one of their cornerstones in the next decade," says Peter Lacy, Global Head of Sustainability Services and Chief Responsibility Officer at Accenture.

He adds that CEOs are visibly concerned about resilience, but one leader's resilience is another leader's opportunity for growth. The new wave of technology investment and breakthrough innovation can bring the SDGs back within reach.

"However, it will only happen if leaders turn to sustainability in the quest for resilience to create new markets, products and services that can correct the current trajectory and drive growth in adverse times," he stresses.

The study reveals that CEOs identify a clear need to focus on technology to find solutions that address global challenges and drive growth.

Leaders in executive management positions are already incorporating sustainability into their businesses. 63% are doing so through new sustainability products and services, 55% by collecting sustainability data in their value chains and 49% are investing in renewable energy sources. Nearly half (49%) are moving towards circular economy models and 40% are increasing R&D&I funding for sustainable innovation.

It is possible to achieve the SDGs of the 2030 Agenda

Setting science-based climate targets or investing in promoting diversity among the workforce or even partnering with other industries to find technology solutions, improving supply chain visibility or promoting greater biodiversity are some key initiatives identified by CEOs to build resilience among companies.

They also call on governments to participate in the changes, prioritizing measurable long-term goals through standardized ESG (environmental, social and governance) reporting, a global carbon market and incentives for sustainable businesses.

"Despite the setbacks, there is hope. The CEOs surveyed recognize that they can generate credibility and brand value by committing to the Ten Principles and the SDGs throughout their operations. Not just because it's the right thing to do, but because it's also good business acumen," stresses Sanda Ojiambo, CEO of the UN Global Compact and UN Under-Secretary General.

Findings of the study

• 87% of CEOs warn that current levels of adversity would limit the achievement of the Sustainable Development Goals.
• 98% agree that sustainability is fundamental to their role.
• 43% indicate that the geopolitical environment has hindered their efforts to carry out sustainability actions.
• The 66% emphasize that their companies engage in long-term strategic partnerships to build resilience.

Source: Global Compact