Honeywell’s Environmental Sustainability Index (ESI) for the third quarter of 2023 has been released.

Highlights of the current period

86% of companies plan to increase investment in sustainability
Companies are increasing their budgets in four main focus areas: energy development and efficiency, emission reduction, pollution prevention and recycling
About 80% of multinational companies in the manufacturing and energy sectors say sustainability is their top priority over the next six months

Based on a double-blind survey of 751 business, technology and sustainability professionals worldwide, the Environmental Sustainability Index reflects key trends, attitudes and progress in global climate change mitigation action and other sustainable development initiatives.

As one of the world’s leaders in energy and climate transition solutions, Honeywell hopes to tap into the ideas and experiences of these sustainability “pioneers” to help more companies successfully implement sustainable practices.

Latest data interpretation

Sustainable practices are steadily advancing

According to the latest Honeywell Environmental Sustainability Index, sustainability is now a priority for manufacturing and energy companies – with about 80 percent of companies identifying sustainability goals as their top priority over the next six months. These companies say sustainability takes precedence over other priorities, including financial performance, market growth and talent development.

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Large multinational corporations are steadily investing in technology and people to achieve their environmental sustainability goals, as evidenced by the latest edition of the Environmental Sustainability Index. Sustainability is a top concern for corporate decision makers, who are motivating senior management to increase engagement and initiative to achieve goals.

— Honeywell’s Chief sustainability officer

Evan van Hook

The survey also found that 93% of companies surveyed have sustainability reporting mechanisms in place, and 82% are optimistic that their reporting methods will meet the disclosure requirements that are likely to be introduced next year. However, when it comes to reporting process management, only 38 percent of companies say they have a dedicated staff or team focused on tracking sustainability progress.

The fourth Honeywell Environmental Sustainability Index provides a new perspective on how companies report and track the progress of their sustainability commitments. This quarter, we saw an uptick in companies investing in sustainability and transparency in their work, as well as taking a combined approach to technology and process in achieving their goals.

— The Futurum Group, the research agency

Principal Analyst and Founding Partner Daniel Newman