, Singapore
Photo by Lily Banse on Unsplash

9 out of 10 biz leaders want decarbonisation progress tied with executive pay 

CEOs, COOs, and CSOs usually lead a firm’s decarbonisation strategy. 

C-suites in Singapore want to take greater accountability for their companies’ decarbonisation goals.

Based on a Schneider Electric report, almost every business leader (99%) in the Lion City believe C-suite remuneration must be linked to decarbonisation goals and targets, given that CEOs (32%), COOs (27%), and CSOs (15%) are most likely to lead a firm’s strategy. 

Of those with decarbonisation strategies in place, only 41% believe theirs is “highly achievable.”

This is likely because only a few (48%) of business leaders believe that their leadership team has a strong understanding of decarbonisation, and most (75%) of them think their organisation was rushed to set targets too quickly.

Meanwhile, the study also found that nearly three-quarters (74%) of business leaders forecast that decarbonisation will become a bigger focus area in the next 12 months.

To ensure the success of decarbonisation plans, business leaders said future leaders must have a range of skills, including ESG and sustainability knowledge (81%), and data analysis (75%), concerning planning and executing strategies.

Business leaders believe that Investment in technology and data is critical, with 96% saying it will be the key driver to their strategies. 

Technologies seen as important to decarbonisation efforts include energy management solutions (95%), carbon capture and storage (94%), and electric vehicles (92%).

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