A recent survey from Ernst & Young found that 70 percent of executives expect that their companies will spend more on climate change initiatives between now and 2012. The survey was conducted among 300 global corporate executives from companies with at least $1 billion in annual revenues.
The survey found that among those who do plan to spend more on eco-friendly initiatives, nearly half expect to spend between 0.5 percent to more than 5 percent on revenues, which Ernst & Young notes would translate into an investment of up to $50 million per year for a $1 billion company.
"Corporate leaders are not letting the lack of global standards and regulations slow their climate change investments. Other market drivers, such as equity analysts' growing interest in climate change performance, are prompting a further need to act and be more transparent," said Steve Starbuck of Ernst & Young.
Among upcoming investments, energy efficiency was said to lead the way, with 82 percent of survey respondents indicating plans for this area.
