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Sustainability on the rise at Egyptian corporates despite obstacles: IBM

Sustainability on the rise at Egyptian corporates despite obstacles: IBM

Arab Finance: Sustainability is becoming one of the priorities of corporates across the world, including Egypt, as a key growth driver, according to a new study conducted by IBM Institute for Business Value, entitled “Own your impact: Practical pathways to transformational sustainability”.

However, CEOs in Egypt expect technology infrastructure, cashflows, and regulations to come as obstacles to their progress within the coming two years.

The annual study, which surveyed 60 CEOs in the North African country, showed that 72% of participants are convinced that the environmental sustainability strategy at their companies is at least partially completed, with 10% claiming the strategy is fully completed at their organizations.

Nearly 47% of the CEOs said that technology marks their biggest challenge in the next two to three years.

Moreover, 28% of the respondents noted that digital infrastructure paves the way for new technology investments.

Despite being “cautiously optimistic” overall about their organizations, 65% of CEOs are confident to achieve sustainability goals within the next three years.

“The world economy is facing major challenges this year, foremost of which are supply chain disruptions, inflation, and the aftermath of the Covid-19 pandemic,” General Manager of IBM Egypt Marwa Abbas said.

“But with every challenge comes an opportunity to do things better, more sustainability, and to employ cognitive technologies and innovations in order to stay ahead of the curve, and that’s where we’re directing all our efforts,” Abbas added.

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