Survey: UK Adults View Sustainability as Key to Business Success

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by KnowESG
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Bosch's Tech Compass Report 2023 suggests UK adults are among the most optimistic worldwide about the economic benefits of green technologies.

More than eight in 10 UK adults believe focusing on environmental sustainability can help deliver economic success for businesses and that technology will have a key role to play in combating climate change, according to new survey findings released today.

The UK-specific results from a global survey carried out by tech giant Bosch found 84 per cent of the 1,000 British adults polled believe technology is key to tackling the climate crisis, reflecting a 10 percentage point increase from the same survey carried out last year.

The results of the survey, detailed in Bosch's Tech Compass Report 2023, also show nearly two-thirds - or 64 per cent - of UK respondents feel businesses are not serious enough about sustainability. Such findings were similar - albeit slightly lower at 58 per cent - across all respondents polled globally for the survey, which took in responses from 1,000 people each from the UK, Brazil, Germany, France, USA, China, and India.

But while the report, which covers people's attitudes towards technology, points to widespread concern that companies do not take sustainability seriously, 80 per cent of respondents said they recognised that focusing on sustainability would bring companies economic success.

Furthermore, the report discovered that while 76 per cent of UK respondents and 75 per cent of people globally cited the potential positive impact of technology, there is still a gap in how prepared respondents believe their countries are to adapt to changing market realities.

In the UK, for example, 74 per cent of people said they saw the nation as 'very well or well equipped' to deal with the accelerating technological change, compared with the global average of 71 per cent, the survey found. Yet in China, as much as 96 per cent said they believed the same, compared to 90 per cent in India, 81 per cent in the USA, 61 per cent in France, and 53 per cent in Brazil.

It follows recent estimates from consultancy giant PwC that the global green technology market is now growing at around eight per cent each year and that climate tech funding represented more than a quarter of every dollar invested in 2022.

Vonjy Rajakoba, the managing director of Bosch UK, said that the survey results showed that the market for green technology was growing quickly around the world. He said that green technology would "play a leading role" in the fight against climate change.

However, he added: "Whilst this is hugely promising, significant investment is needed, and it is clear that the public expectation of companies is that organisations should do more for the environment. Some investments will yield a quick return; others will take longer to bear fruit, but we are convinced that making them is both responsible and profitable."

Rajakoba said the survey findings also demonstrated the need for businesses to better communicate the sustainability measures they already have in place.

"Technology is all around us and as it develops further businesses must ensure that it is used for the greater good," he said. "There's a growing realisation in the potential of technology to combat climate change and the Tech Compass shows that the public will hold companies to account. They want to see the latest developments used in a way that benefits society and improves the quality of life for everyone."

Elsewhere, the survey findings indicate the UK may be one of the most optimistic countries in Europe with regard to its focus on sustainable technologies, with 56 per cent of respondents agreeing that Britain stands in a leading position in the sector.

UK respondents ranked climate engineering - 51 per cent - and hydrogen fuel cells - 44 per cent - as the two technologies they thought would make the greatest positive contribution to society.

Respondents from the UK also ranked climate engineering more highly than other countries and viewed hydrogen more positively than in other nations, including German respondents who ranked hydrogen at 45 per cent.

In addition, the research also backs up consistent polling over the past decade showing the UK public remains in favour of low-carbon energy rather than fossil fuels. Nearly two-thirds - or 64 per cent - of UK respondents said that they would like to see wind power as a focus, followed by solar at 60 per cent and water at 44 per cent, according to Bosch.

For more environmental news

Source: Business Green


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