T H E 1 2 T H U TO WITHSTAND THE VOLATILITY OF THE FUTURE, CEOS NEED N I T E THE RIGHT TOOLS AND STRATEGIES TO ENABLE RESILIENCE D N A T I O “Business cannot succeed on N CEOs have started to take action towards Nine in ten CEOs (91%) report that insufficient S G its own, we must foster deep L integrating sustainability to build their resilience. technology solutions are a barrier to building O B partnerships to sustain growth.” A However, some express concern around the resilience in their businesses. Yet, conversations L C O speed and scale at which change is occurring. with CEOs show that they have the tools they Sherif El Gabaly, M P A As Ma Cher (USA) Inc., President, Derek Hydon, need, but lack the financial ability or people to Chairman and CEO of Enara Group C T - A states, “I am deeply concerned that we won’t implement these tools at scale. António Costa, C C E take action until the last second. And this CEO of Kaizen Institute (Kaizen Institute Global N T U means that we will have to rely significantly on Group of Companies), describes, “We already R E C technology to solve some of these problems that have ideas and technologies on how to address E “By enabling open-source tools O S can be handled with nature-based solutions and sustainability. But it is putting them into practice T and platforms and creating U D habit change today.” To unlock change, CEOs are that will prove to be challenging.” Keiichi Iwata, opportunities to build a local Y looking to step up in certain areas, while looking Representative Director & President of ecosystem and technological for support to achieve the progress necessary. Sumitomo Chemical Company, Ltd., adds, infrastructure, we can harness “Zeroing out emissions only a few years before the full potential of the start-up CEOS ARE HARNESSING AVAILABLE 2050 wouldn’t curb global temperature rise. ecosystem for digital, innovative, TOOLS AND TECHNOLOGIES, BUT We should immediately start implementing the and sustainable transformation. ADVANCEMENTS ARE NEEDED TO world’s best available technologies to cut as Providing mentorship and much emissions as possible until 2030. At the partnership to co-create WEATHER FUTURE CHALLENGES solutions can strengthen the same time, we should also accelerate the global ecosystem of start-ups CEOs have started to make progress in data development of breakthrough technologies and and unicorns.” management, scenario planning, and preparation. deploy them across the world beyond 2030. However, the adoption of these tools and We need this two-pronged approach to achieve zero CP Gurnani, technologies needs to be vastly accelerated to emissions by 2050 and limit temperature rise.” Managing Director and Chief Executive Officer of Tech Mahindra help with global business resilience. Although many CEOs are making strides on Currently, 87% of CEOs say they need the tools for core technology actions, most are yet to take stronger scenario planning and analysis. According transformational action. Three fourths of CEOs (72%) to CEO & Managing Director of Mirvac, Susan are digitizing business processes – a strong initial “Governments and international Lloyd-Hurwitz, “As a response to increasingly step; however, only a few (17%) are implementing organizations can help the adverse climate events, we are making artificial intelligence (AI) for real-time risk analysis innovation ecosystem by investments in robust climate risk assessments and less than half (48%) are transitioning to cloud decentralizing support. Currently, and scenario modeling to understand potential infrastructure to enhance efficiencies. To address in India, becoming a part of the future realities. We are leveraging this to educate the gap in current technologies, most CEOs (88%) innovation ecosystem requires our executive team, and creating our overall express the need for increased research and a certain level of scale and resources. If resources & support organizational resilience strategy, which will feed development (R&D) for technological innovation to (e.g., staff augmentation, capital, into all other strategy-making at Mirvac.” enable greater resilience, with 40% of companies revenue opportunities) are offered increasing their R&D funding for sustainable more intentionally, this would The ability to implement scenario planning tools innovation. As Alexandre Ricard, Chairman & benefit not only our company is not uniform. Although developing countries Chief Executive Officer of Pernod Ricard, shares, but also the broader innovation report scenario planning as the top enabler “A sustainability roadmap is only worth whatever ecosystem.” needed to build resilience, many do not have the KPIs are worth. This is why it is so important Gagandeep Bhullar, the resources to weave the practice into daily to tie every single goal to clear, measurable Founder & CEO of SuperHuman Race business operations. targets and invest in tracking data.” The ability to track progress and manage data is therefore Another barrier, according to CEOs, is the a barrier as well as an opportunity for growth, widespread implementation of technology. as companies bring their sustainability to life. 56 57