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Survey of top business executives reveals fears Covid-19 crisis could stall corporate climate action

Survey of top business executives reveals fears Covid-19 crisis could stall corporate climate action

Business managers from around the world accommodate perspectives on the impact economic downturn could have on corporate sustainability the initiatives in major Deloitte canvas

A survey of hundreds of top business administrations by consultancy beings Deloitte advocates the Covid-1 9 crisis could retard sustainability strategies at firms various regions of the world, despite climate change impacts remaining a major concern within the overwhelming majority of organisations.

A poll of 750 business leaders published this morning by the management consultancy firm has is demonstrated that 65 per cent of executives said their company is required to "cut back" on environmental sustainability initiatives in some way as they strive to handle the fall out from the pandemic.

Despite high-profile announces from across the corporate sector for a 'green recovery' from the pandemic and a glut of net zero deposits launched during the past year, Deloitte's survey highlights how simply 23 per cent of executives polled expected the companies they worked for to ramp up their environmental sustainability plans following the completion of the health and economic crisis.

The revelation from business insiders that sustainability programmes "couldve been" hindered in the wake of the economic downturn comes despite widespread expressed concerns about the atmosphere crisis among business leaders, according to the findings. Some 82 per cent of business leaders described their organisation as either "concerned" or "very concerned" about climate change impacts and 81 per cent of executives agreed or strongly agreed that businesses could do more to protect the environment.

Meanwhile, around 30 per cent of respondents said their company was already starting to feel the operational impact of climate-related disasters.

Michelle Parmelee, representative CEO and director parties and purpose officer at Deloitte Global, described the results of the survey as "mixed", but stressed the findings highlighted the business case for attacking climate change and impelling environmental sustainability "a true-blue imperative for executives".

"On the one side, the pandemic has retarded some of the momentum toward combatting the climate crisis that has been building over the last couple of years, " she said. "On the other hand, there has emerged a newfound sense of determination that if we act now, we can alter the course of climate change and shunned worst-case scenarios case scenarios down the line."

The survey divulges the top four activities being prioritised by companies to combat the environmental emergency are the adoption of public policy importances that promote sustainability and climate change action, work to ensure suppliers and business partners meet specific environmental sustainability criteria, use of more sustainable fabrics, and drilling the board and senior management on atmosphere issues.

Remote working was also identified by business leaders as an act become more prioritised by fellowships as a means to reduce their environmental impact. Some 38 per cent of respondents is demonstrated that their firm had promoted manipulating from home as a means to reduce emissions from passage, up from the 19 per cent recorded in early 2020, before the pandemic interpret empoyees around the world pivot towards dwelling working to avoid the spread of the virus.

Despite the current economic headwinds, the findings highlight how ministerials are universally confident about the future, with approximately 63 per cent of executives claiming they speculated the worst impacts of climate change can be limited if immediate action is made. However, a third of respondents agreed with the statement that the world had "already hit the point of no return" and that it was "too late to repair the damage".

Read more: businessgreen.com


‘Insurance most-preferred financial product’

New Delhi: Insurance has become the most-preferred financial product to protect the family against state emergencies announce the COVID-1 9 pandemic with more people inclined to invest in insurance products in the next six months, distributed according to a examine from Tata AIA Life Insurance. Harmonizing to a consumer confidence survey on the impact of COVID-1 9 commissioned by experiment agency Nielsen, life insurance turned out to be the most preferred fiscal implement driven by the need to secure family's future financially and issues of concern around medical disasters. The sketch likewise found that most consumers would like to buy life insurance in the next six months as one of the purposes of their financing programmes. The canvas conducted using 1,369 respondents across nine cores revealed that during the course of its pandemic, 51 per cent of the children of the respondents invested in life insurance, while 48 per cent invested in health-related insurance solutions, which is higher than other business resource classes. More than half of the respondents said their views towards life insurance have changed positively due to the pandemic and 49 per cent want to invest in buying a life cover in the next six months and 40 per cent of the children intends to invest in health insurance. The survey said 30 per cent of the children of the people invested in life insurance for the first time during the pandemic, while 26 per cent invested in health-related insurance solutions for the first time. Fiscal insurance against medical disasters and overheads became very the topmost priority, with as many as 62 per cent mentioning about it and a majority of 84 per cent saying they are still concerned about self and family due to coronavirus. 61 per cent were worried about themselves/ family and working their top concern is the economic slowdown. "Of the respondents concerned about self and family, 50 per cent are worried about mental health due to increased workload due to Covid-1 9 pandemic. Among female respondents, 55 per cent said they are concerned about the mental health due to the increased workload during the pandemic. "4 one per cent parties are buying monetary commodities online more frequently than before Covid-1 9 pandemic, " the survey said. Among the other asset years, one-third of the respondents said they invested in bank or company fastened sediments, and 30 per cent invested in mutual funds, while 24 per cent invested in stocks, 17 per cent invested in gold/ digital amber. "Life insurance has clearly rose as the most wonderful fiscal resource as per our Covid sentiment study. There is a distinct shift towards considering life insurance as the primary source of future monetary shield, followed by health and wellness answers. "The survey discovers have helped capture and unravel the transition in customer consumption and attitude towards life insurance, " said Venky Iyer, CDO and Head marketing, Tata AIA Life Insurance. The questionnaire was discovered that with reforming fund needs and priorities, consumers' monthly allocation towards assurance, savings and financing, has increased. With less discretionary spends and more focus towards crucials spending, buyers are motivated to save, and invest resources in life insurance than they were pre-Covid, he observed. Tata AIA Life said the motive behind doing the survey was to get a extensive understanding about consumers' usage and stance pre and pole Covid-1 9 pandemic towards financial instruments and type of life insurance policies. The overlook was conducted on salaried, business and self-employed male and female in the age-group of 25 -5 5 years through computer-aided web interview. 8122701 3

Read more: economictimes.indiatimes.com