Schneider Electric, a global leader in energy management and automation, recently published a report titled “Thriving in the Green Economy,” shedding light on the link between digitalization and sustainability efforts. The report, derived from a survey of 500 business leaders in Singapore conducted between May and June 2023, demonstrates that organizations emphasizing digitalization for sustainability are notably more confident in achieving their goals.
The study identifies 35% of Singaporean business leaders as “Digital Sustainability Leaders” who strongly believe in digitalization as a key driver of their sustainability strategies. In contrast, 59% are categorized as “Digital Sustainability Adopters,” and 7% as “Digital Sustainability Sceptics.” Industries such as real estate, data centers, automotive, and e-mobility lead in digital sustainability efforts, whereas professional services, FMCG, transportation, and infrastructure sectors lag behind.
Digital Sustainability Leaders, constituting 41% of respondents, exhibit comprehensive and integrated sustainability strategies with defined policies and targets. Additionally, 64% of them have dedicated sustainability teams, while only 42% of Digital Sustainability Adopters and 18% of Digital Sustainability Sceptics do so.
Furthermore, the study reveals that Digital Sustainability Leaders are three times more confident in achieving their sustainability goals, with 61% being very confident.
They also work on shorter time horizons, with 31% focusing on goals set for the next year or less. This group is also more proactive in combatting climate change, utilizing methods such as Carbon Foot-Printing (40%), Supply Chain Analysis (38%), and Life-cycle Assessment (34%).
The report underscores the crucial role of digitalization in sustainability efforts, emphasizing that data and technology empower organizations to monitor, plan, and optimize their sustainability initiatives. Schneider Electric’s Cluster President, Yoon Young Kim, highlighted the necessity of collaboration and integrated digital solutions to mitigate emissions, promote circularity, and make meaningful progress toward sustainability targets.
The findings of the Schneider Electric Sustainability Survey 2023 were derived from 4,500 business leaders across nine countries, offering valuable insights into global sustainability perspectives.
