The financial services sector now scores higher than 11 other industries for its sustainability efforts, Capgemini says. 

The consultant’s latest Sustainability Transformation Trends survey shows the insurance/retail banking index has climbed 30 percentage points to 138 – a better score than healthcare and life sciences, industrial manufacturing, public sector/ government, retail, aerospace and defence, automotive, consumer products manufacturing, energy, telecom, utilities, and agriculture and forestry. 

The index is based on 93 questions benchmarking progress in environmental and social sustainability over the past three years, with a value of 100 indicating the baseline average. 

Capgemini says 84% of 2152 executives it surveyed said their organisation was on target to meet emissions goals, while only 9% were behind. The survey included 192 executives from Australia. 

Some 727 large organisations were surveyed across 13 countries. 

The third edition of the report highlights marked improvements in sustainable design, circularity, measurement, water stewardship, biodiversity and sustainability skilling. 

Australia is highlighted for its progress, after its sustainability index moved from 100 to120 – a higher score than the UK, the US, Canada, France, Germany and India. 

“Australia has made the most consistent progress, year on year,” Capgemini said.  

Capgemini head of global sustainability services and corporate responsibility Cyril Garcia says water stewardship, biodiversity preservation and circular practices are now established as key business imperatives.  

“Business leaders have the power and the responsibility to steer us towards a more sustainable economy,” he said. “Executives are being very pragmatic, and CO2 reduction must now be translated into cost savings. 

“We continue to see sustainability efforts bolstered by new climate tech innovations and regulations. The best way to build trust and credibility with consumers is by demonstrating tangible outcomes and planning for a future with sustainability at its heart.” 

See the report here.