According to Net Zero Tracker, dozens of private companies in the largest markets in the world, including the EU, the US and China, still do not have net-zero or emission-reduction targets. Such organisations are running out of time; as global regulation makes sustainability an integral part of financial reporting, investors and consumers expect environmental stewardship from big business. Companies unprepared for the net-positive future may not have one.

It’s time to push the transition into the mainstream, and fast. While this shift presents business risks, it also brings opportunities in the shape of new markets, sustainable growth and financial resilience. Astute business leaders already see the potential; according to KMPG’s 2024 US CEO Outlook Pulse Survey, 17 per cent of CEOs name the execution of ESG initiatives as their top operational priority for the next year, edging out inflation-proofing capital (14 per cent) and advancing digitisation across the organisation (11 per cent). The majority of the CEOs surveyed expect to see significant returns on sustainability investments within five years.

But all organisations must make sustainability their business. We know that progress requires actionable transition plans: plans that financially quantify climate-related risks and opportunities to provide a shared language and insights that unify the sustainability and business strategies, and speak directly to the Board. Understanding and demonstrating the connections between implementing sustainability and financial value is key to making the business case.

It’s time for business to act on opportunity. Strategic sustainability can deliver competitive advantage and build resilience into a company’s future; PwC’s latest Global CEO Survey found that companies taking more action on climate-related opportunities and risks also have better financial performance. Working with Climate Group, Risilience is the official Finance Partner for Climate Week NYC. In two weeks’ time, we will join government officials, policy makers and international business leaders to focus on one of the greatest disruptive challenges to business models seen for generations. It’s time to meet that challenge, together.