• 78% of medical device companies plan to increase ESG investments
• ESG related factors to drive operational decisions and corporate strategies
• 70% of ESG executives believe setting ESG targets good for company revenue

With a vision to reach net-zero carbon emissions, many companies are planning to increase their expenditure on environmental, social, and governance (ESG) goals. In line with this, GlobalData, a leading data and analytics company, conducted *ESG Strategy Survey 2021, which highlights the importance of setting and investing in ESG related goals that are likely to positively impact the market performance.

GlobalData’s survey reveals that 80% of respondents reported that their companies plan to increase spending on ESG issues to meet targets while 78% of medical device sector companies surveyed plan to increase ESG investments between 2021 and 2026 to meet ESG goals.

Additionally, 70% of 1,500 ESG executives believe that setting ESG targets will positively impact company revenue. Therefore, ESG related factors will increasingly be involved in driving operational decisions and corporate strategies.

Selena Yu, Medical Devices Analyst at GlobalData, comments: “Since the new generation of consumers has a greater sense of global responsibilities, acting against climate change, integrating socially sustainable practices, and implementing transparency and accountability in governance will attract more customers, partners, and employees.

“The survey highlights that 69% of respondents agreed that their companies will change policies and practices to meet ESG goals. Moreover, 98% surveyed believed that incorporating ESG factors is important to very important in company decision-making.”

Stakeholders are demanding increased transparency and accountability from companies which is driving changes in ESG issues. For example, hundreds of companies are pledging to reach net-zero carbon emissions in the next 20-30 years. And many companies are helping to drive social change by donating money to help underserved communities.

Yu concludes: “Also, some companies are using artificial intelligence systems to expose and eliminate corruption and fraud before it takes place. These companies pioneering change will demonstrate that accounting for ESG issues in strategic planning and decisions are both possible and brings market value.”

Information based on GlobalData’s report, ‘Thematic Research: GlobalData’s ESG Framework’ and *ESG Strategy Survey 2021 

*Survey Information: 1,500 Respondents (43% from Europe, 22% from Asia-Pacific, 17% from South & Central America, 9% from North America, and 9% from the Middle East and Africa). The web-based survey was conducted in October 2021. Responses are from ESG executives and influential ESG leaders from organizations in 24 countries. The interviews cover 21 industries.