Nearly two-thirds of corporations worldwide will increase environmental spending this year with about half of that group expanding their budgets by double-digits.
Verdantix surveyed 250 heads of environment, health and safety (EHS) in 13 major economies and reported that just 3 percent plan to cut spending this year compared to 2013, while 36 percent will hold spending in line with inflation.
Spending on air, soil and water pollution, permitting, waste, water and emissions will continue at a robust pace this year, according to Verdantix. The report reveals that spending on environment, health and safety will comparatively be more attractive than energy management and sustainability.
Global environmental spending will be active for software provided by suppliers like Enablon, GenSuite and Intelex, environmental reporting, auditing and compliance. The Verdantix report, Global Survey 2014: EH&S Budgets & Priorities reports on trends, including:
- 68 percent of North American EH&S budgets will remain flat in 2014 compared to 2013 with 30 percent of corporations making increases
- 14 percent of corporations in the AsiaPac region will increase EHS spending by 10 percent.
- 36 percent of corporations in Europe, the Middle East and Africa will increase their EH&S spending in 2014 of which 11 percent plan a double-digit increase.