End the duopoly

Climate change, environmental damage top CEO concerns

While consumer behavior surrounding responsible product use and waste management continues to improve, thanks to education and awareness on the effects of climate change, a group of CEOs here in the Philippines believes businesses—especially business leaders—should take the lead when it comes to the matter of sustainability.

“For sustainability to happen, leaders need to embrace it. For me, more than anything, sustainability is a leadership issue. The power comes from leaders,” says Alex Cabrera, PricewaterhouseCoopers (PwC) Philippines chair and senior partner. “If they make it happen, it will.”

PwC, together with the Management Association of the Philippines (MAP), released recently the report “The Future of Business: Sustainability. Development. Impact,” which details results of the 2019 survey of 127 CEOs in the Philippines, from a mix of large (50 percent), medium (27 percent), small (14 percent), and micro (9 percent) enterprises from various sectors “about their views on sustainability and the changes that they need to make to address the issues [businesses] are facing.”

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According to the report, over 80 percent of CEOs identified climate change and environmental damage among the top threats to their organizations, along with geopolitical uncertainty (84 percent) and overregulation (82 percent).

With that in mind, 83 percent of respondents said they had adopted sustainable practices in their respective businesses.


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