Stem Survey Reveals C-Suites to Increase Sustainable Investments

by | Jun 29, 2023

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Stem released the findings of a survey, which revealed that despite economic uncertainties and ongoing energy challenges, a majority (57%) of C-suite leaders are increasing their investments in sustainable solutions and clean technology. An AI-driven clean energy software and services company, Stem’s findings shed light on the perspectives and investment plans of C-suite leaders from Fortune 1000 companies regarding sustainability. 

The survey highlights a shift in the business landscape, driven primarily by investor demand (40%) and the potential for new revenue sources (39%). Fortune 1000 leaders in the United States are prioritizing investments in sustainability technology, particularly artificial intelligence-powered software and clean energy storage systems, to address energy costs, reduce emissions, and unlock new revenue streams.

The survey underscores the urgency of sustainability investments, as nearly all (93%) respondents agree that energy challenges will negatively impact their businesses within the next 12 months. Consequently, 99% of leaders plan to focus on cleantech solutions during this period to address these challenges.

Stem Sustainability Survey Results

Leaders are investing in various energy-efficient technologies and digital software solutions to enhance sustainability efforts.

Fifty-three percent of respondents specifically recognize the value of software in improving efficiency. Battery storage (60%) and energy optimization software (60%) emerged as the primary energy technologies being adopted or planned for adoption. Additionally, 35% of leaders plan to combine these technologies. Data integration (53%), AI software (52%), and application integration (51%) are also identified as key digital technologies required to achieve sustainability goals.

In addition to core sustainability investments, leaders are leveraging new government legislation and policies. A significant majority (92%) are utilizing tax incentives provided by policies such as the Inflation Reduction Act. Over half (53%) have made minor improvements to existing sustainability initiatives based on new policies, while 39% have initiated major new projects. These endeavors are funded through redistributed budgets (55%), incentives from utilities (50%), and federal or state tax incentives (46%).

John Carrington, CEO of Stem, said that sustainability investments can drive growth and position businesses for future success. Such investments yield cost savings and counteract the adverse effects of energy challenges in the short term while providing an additional revenue source in the long term. Carrington believes that integrating advanced clean energy technologies allows businesses to achieve enhanced resilience, a competitive edge, investor support, and long-term profitability.

Stem’s integrated, AI-driven platform, utilized by multiple Fortune 500 companies, enables customers to maximize value from their clean energy assets, including battery storage, solar power, and electric vehicle charging.

The Stem survey was conducted by Wakefield Research between March 24 and April 4, 2023. It involved 100 C-level leaders from Fortune 1000 companies who participated through email invitations and an online survey.

Editor’s note: Don’t miss the virtual Environment+Energy Leader Solutions Summit ’23 on July 18-19. Learn tangible, innovative solutions to help with sustainable transitions across industries. Speakers from companies and organizations including Schneider Electric, Cority, Jump Associates, Mycocycle, Plainsight, LRQA, the Alliance to Save Energy, and many more will share tactics and lessons that can help you solve your energy management, sustainability, and ESG challenges. Learn more about the #EESummit23, and then register today!

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