Deloitte has developed new solutions to help companies to manage the disruption caused by the rapid pace of change needed to keep up with net zero transformations.
Deloitte launched a new asset roadmap and suite of technology solutions to support corporate sustainability transformations.
The new suite of solutions highlights the growing focus on technology to help companies deal with transformation – and the growing pressure for net zero.
Services for high-end multinationals are likely to continue pressure throughout the supply chain on emissions and resources data.
The development of the new offerings – ESG Strategy, Performance & Reporting, Climate & Decarbonization, Sustainable Supply Chains, and Financing Sustainability – came in response to Deloitte’s 2022 CxO Sustainability Report which found that finding that 79% of C-level business leaders believe the world is at a tipping point in its response to climate change.
Broad remit spans company performance reporting and management
Deloitte’s new sustainability solutions are designed to help its clients, some of the largest companies in the world, formulate strategies to tackle changes and disruptions from climate change.
Leveraging not just Deloitte’s own expertise in sustainability reporting, performance management, financial transformation and system implementations, it also uses SAP’s platform, enhancing its appeal to large corporations. SAP (NYSE:SAP) already boasts a range of sustainability solutions within its software suite, and has strategic partnerships with Ernst and Young (EY), PwC and Accenture.
As the largest enterprise application software company, SAP serves many of the same Fortune 500 clients as the big four consulting firms. Many of the solutions proposed by these firms, therefore, will likely be primarily targeted at those clients that can easily leverage SAPs technology to apply or implement them.
Deloitte survey reveals CxOs believe climate change tipping point reached
Deloitte’s 2022 global CxO survey reveals that c-suite executives at major corporations are more anxious about climate change since the 2021 survey, with 79% thinking the future of the planet can go either way. Yet a majority are optimistic about the future, believing the worst impacts of climate change can be limited via immediate action.
The survey also revealed that C-level executives don’t see the possible financial benefits of sustainability actions, and identified brand recognition (49%) and customer satisfaction (46%) as the top benefits of related efforts. The lowest-ranked benefits of climate strategies were identified as revenue from longstanding and new business, asset values, cost of investment and operating margins.
The results of this survey don’t just paint a confusing picture of the priorities placed on climate change and sustainability by top managers, but may also impact the strategy and planning of smaller companies with limited resources, that make up the supply chains of larger firms. Additionally, their actions seem to suggest virtue signalling – respondents said they are more likely to use more sustainable materials than develop new climate-friendly products or services.
While the results of the survey may reflect the complexity of today’s market, Deloitte’s development of a relevant tool-set shows that this is a market that none of the large consultancies, or leading global technology giants, feel they can afford to ignore. It’s yet another signal of changing times.