How to Turn ESG Responsibility into Business Opportunity: Results from Our Global Executive Survey

Combining innovation and sustainability can propel growth for industrial, energy, and natural resource companies.

Letter from the Authors

Dear clients and friends,?

In today’s world, the importance of companies’ environmental, social, and governance (ESG) performance cannot be overstated. Investors, consumers, and regulators are all demanding greater transparency and accountability from businesses. At Stanton Chase, we recognize the need to stay at the forefront of these conversations and to uncover the strategies that are driving success.?

To that end, we conducted a?Global Executive Survey?on?The State of ESG in the Industrial, Energy, and Natural Resources Sectors.?

The survey aimed to:?

• Identify key business challenges, ESG-related challenges, and opportunities in the industrial, energy, and natural resources sectors?
• Take the pulse of ESG performance through the eyes of business leaders driving the ESG agenda?
• Measure the progress companies have already made in terms of ESG implementation.??

We believe that these insights will help companies improve their ESG performance, set themselves up for success in 2023 and beyond, and contribute to a more sustainable future.?

We hope that you will find our survey report to be a valuable resource. As always, we welcome the opportunity to discuss these issues further.

Warm regards,?

Jan Duniec?and?Christian Ehl

Key Findings

Executive Summary

Companies in the industrial, energy, and natural resources sectors are facing a variety of challenges in 2023.

In our previous Global Executive Survey, 81% of respondents stated that their current economic situation was consistent with or better than it was in 2021. However, this year, only 68% of respondents felt their economic situation was the same as or better than it was in 2022.

Our survey identified several key challenges facing companies in these sectors, including a lack of available funding, with 33% of respondents expecting there to be slightly or significantly less funding available over the next 12 months.

Difficulties in sales, business development, and accessing new markets were reported as the biggest challenges.

The lack of competent and available executive talent was a problem for 40% of companies.

Thirty-six percent of companies planned to nearshore or reshore their supply base to mitigate supply chain risks. Eighty-five percent of companies also reported that ESG will impact the way they approach supply chain management, with nearly a third (30%) reporting that they will be changing suppliers.

Despite these challenges, 2023 presents opportunities for growth, innovation, and progress, particularly in the realm of ESG.

ESG initiatives have already increased the market share of 10% of companies, and 35% expect ESG initiatives to increase their market share in the future.

Nearly a quarter (24%) of companies also reported that ESG initiatives were making it easier for them to attract and retain top talent.

Our survey was attended by 179 diverse respondents, including 30% CEOs and 15% board members or board chairs. More than half (57%) of respondents represented global companies, and more than a third (34%) represented companies with revenues of $1 billion or more.??

Read Our Full Report and Get Access to More In-Depth Industry Insights

Learn how your company can capitalize on opportunities, overcome obstacles, and secure a competitive edge through embracing sustainability.

You can view the findings of our survey by clicking here.

Alternatively, you can download a comprehensive 23-page PDF report detailing these results by clicking here.

About the Authors

Jan Duniec is Partner at Stanton Chase Warsaw and the Global Practice Leader of Stanton Chase’s Industrial Practice. He is an experienced consultant with 17 years of plant and business executive management experience.?

He is a graduate of the University of Manchester with an honours degree in Physics. He has dual Polish and British citizenship and is fluent in both languages. He was resident in the UK until 1991, and has been predominantly based in Poland since then.?

Click here?to learn more about Jan.?

Christian Ehl is a Partner at Stanton Chase Düsseldorf and the Global Practice Leader of Stanton Chase’s ESG Practice. He has 19 years of experience in executive search, leadership advisory, sustainability, and ESG.?

He finished his studies in international business administration at the Accadis Business School. He also completed a separate degree from the University of Newcastle (UK). He speaks German and English fluently and has a good understanding of Spanish.?

Click here?to learn more about Christian.?