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APPLICATION
Climate, Energy & Space
How these trends impact your company
63
STRATEGY
INNOVATION
R&D
GROWTH
Throughout every industry, climate change and sustainability have taken center stage. With the passage of green stimulus plans and the growing popularity of environmental, social, and corporate governance (ESG) initiatives, there will be new incentives to measure energy usage, sustainability criteria, and environmental impacts. We anticipate new opportunities for companies that strategically map the next two to five years with sustainability and ESGs in mind. Conversely, companies that wait could find themselves regulated in new ways or facing financial penalties. First movers and fast followers could help shape the directions of their industries, which would be a long-term strategic advantage.
Senior executives are prioritizing sustainability broadly across their organizations. Likewise, consumers are asking that sustainability concepts are factored into product development. But some organizations or business units see sustainability as a risk, an added expense, or a challenge to existing operations. This presents a unique opportunity for innovation teams, which can resolve those fears with new workflows, products, and services.
There has never been a better time to pursue R&D in energy, sustainability, and space initiatives. With investment pouring into these areas and regulation creating a sense of urgency, this is a good time to develop moonshot ideas and develop the workflows to match. The biggest challenge: which big bets to place.
Climate change, extreme weather events, and an uncertain regulatory landscape will impact growth in some businesses. Scenario planning is critically important in 2022 and beyond. Teams should actively rehearse alternative futures, including financial models and contingency plans to mitigate supply chain disruptions, geopolitical tensions, and sustained changes in consumer behavior.
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