IBM, released its first-ever State of Sustainability Readiness Report 2024, revealing that 98% of Indian business leaders surveyed are planning to increase investment in IT for sustainability over the next 12 months. The research emphasises that the majority of Indian respondents view investments in IT as vital not only for environmental responsibility but also to drive long-term business resilience (61%) and brand reputation (64%).
“As sustainability becomes central to business growth strategies, AI is proving to be a game-changer in driving responsible growth,” said Sandip Patel, Managing Director of IBM India/South Asia. “Today, India stands out as a leader in AI-driven sustainability. Business leaders across the country view sustainability as a strategic lever for transformation, and IBM is advancing AI solutions to help accelerate their sustainability goals,” added Patel.
AI for Sustainability
Almost universally, respondents had a positive take on AI’s potential for sustainability: 9 out of 10 surveyed executives globally agree that AI will positively influence achieving their sustainability goals. In line, most Indian executives (96%) believe that AI can positively impact their sustainability goals. Underscoring India’s commitment to sustainable innovation, most business leaders are already leveraging the power of AI, with 64% of Indian companies actively using AI in their sustainability efforts.
Challenges and drivers
The report also highlights water usage as one of the top challenges specific to Indian companies. Brand reputation (64%) is the top driver of IT sustainability investment at companies in India, followed by long-term business resilience (61%).
While 81% of Indian leaders adopt a proactive approach towards Climate Resilience, 54% implement opportunity-driven sustainability investments. Further, 79% of Indian leaders report having mature systems to track sustainability goals through data.
Actionable Recommendations
IBM’s State of Sustainability Readiness Report provides key recommendations to business leaders and organisations eager to confront sustainability challenges. Among them:
⦁ Invest in the AI tools that are right for your organisation – For example, generative AI can provide insights that help identify opportunities to reduce carbon emissions and ⦁ create scenarios and algorithms for more sustainable business practices. This can provide organisations the insights needed to address climate crises and turn sustainability ambition into action.
⦁ Lean in on data to lessen the perception gap between C-suite and lower-level decision makers – As top challenges to sustainability continue to evolve, organisations should collect data from across their business to better understand the difference in perceptions between C-suite and lower-level decision makers. Leveraging data analysis and reporting.
⦁ tools can uncover blind spots and maintain visibility and alignment across the organisation.
The State of Sustainability Readiness 2024 report was conducted independently by Morning Consult and sponsored, analysed and published by IBM. Interviews were conducted between April and May of 2024 with 2,790 business leaders and decision-makers across 15 industries and 9 countries, including India.