In the face of escalating climate-related risks, a recent study conducted by IT infrastructure services provider Kyndryl and Microsoft sheds light on the concerning disparity between recognition and action regarding sustainability goals among Indian organisations.
Despite a significant 86% of Indian organisations acknowledging the pivotal role of sustainability in shaping their business strategies, a mere 16% have taken concrete steps to prioritise sustainability objectives based on factual data and insights, according to the study. The findings underscore the pressing need for Indian businesses to align their strategies with environmental sustainability, particularly amidst a surge in climate-related events and challenges both domestically and globally. This heightened focus on sustainability highlights the crucial role of technology as a key enabler of sustainable solutions in India. While a majority of survey respondents (68%) acknowledge technology’s significance in aiding their sustainability goals, only 34% believe they are making full use of its potential within their organisations. Notably, customers have emerged as influential advocates for sustainability (60%), followed by employees (52%) and supply chain partners (40%).
The study, part of the Asia Pacific edition of the Global Sustainability Barometer by Kyndryl, involved 1,523 technology and sustainability business leaders across 16 countries in Asia, EMEA, and the Americas. Conducted between September and October 2023, the survey encompassed nine industries, including small, medium, and global companies. Artificial intelligence (AI) emerges as a pivotal tool in driving sustainability efforts, offering organisations the opportunity to enhance decision-making processes, mitigate risks, optimise resource allocation, and bolster overall sustainability initiatives through predictive analytics.
However, despite the potential benefits of AI and technology, data collection and analytics remain significant hurdles for many entities. Over 50% of organisations cite challenges in accessing relevant data and integrating necessary information for informed decision-making, highlighting the urgent need for robust data infrastructure to support sustainable planning and resource management. As Indian businesses navigate the complexities of sustainability in an increasingly volatile environment, the study underscores the imperative for organisations to bridge the gap between intent and action, harnessing technology and data-driven insights to drive meaningful progress towards sustainable development.
“Organisations are at diverse levels of sustainability maturity. Visionary companies are harnessing technology to meet regulatory standards and pursue sustainability objectives effectively. They are leveraging technology to fulfil customer expectations, reduce expenses, and innovate, thereby unlocking the full potential of sustainability,” said Faith Taylor, Chief Sustainability and ESG Officer, Kyndryl. “However, accessing data still poses a significant challenge. Over 50% of organisations find their sustainability goals hindered by the difficulty in pinpointing relevant data and integrating all necessary information for environmentally conscious decision-making. This underscores the potential to establish a robust data infrastructure capable of powering predictive analytics for sustainable planning and resource management,” it added.
