Corporate Australia is increasingly worried about climate change, according to a new survey which found about three-quarters of business executives believe the planet has reached a "tipping point".
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That figure compares to just over 50 per cent from a survey taken just eight months ago, highlighting the rapidly shifting sentiment among business leaders.
The findings are contained in Deloitte's new CxO Sustainability Report, which was based on a survey of 2000 global business executives - including 102 from Australia.
The study found three-quarters of executives were concerned about global warming, with an even higher proportion - 86 per cent - believing the planet was in a "climate emergency". Some 89 per cent thought immediate action could limit the worst consequences of climate change.
But while executives were clearly convinced of the threat, the survey exposed a disconnect between ambitions and actions.
It found only about half were acting on what was described as "needle-moving actions", such as tying executive pay to sustainability goals or forcing business partners and suppliers to meet environmental criteria.
The survey's findings, published on Monday, also challenged the notion that companies were transitioning their operations because they believed it would benefit their bottom line.
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Just 22 per cent of respondents strongly believed their companies' sustainability initiatives would boost operating margins.
Corporate Australia is widely seen as well ahead of the federal government when it comes to the clean energy transition.
The Business Council of Australia, using Deloitte analysis, last year urged the federal government to commit to halving greenhouse emissions by 2030.
Prime Minister Scott Morrison ultimately committed to net zero by 2050, but resisted pressure to lift the Coalition's target of cutting emissions by 26 to 28 per cent by 2030.
While the Morrison government's climate policies have drawn heavy criticism domestically and abroad, 75 per cent of the business leaders surveyed for the report believed it was doing a "good job mitigating the impacts of climate change".
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