Rockwell Automation recently released their 9th annual State of Smart Manufacturing Report, and it has some surprising things to say about sustainability. Of all the firms across many industries surveyed, a full 98% of them said that they had some form of ESG (Environmental, Social, and Governance) policy. Of course, not all policies are created equally:
- 48% have a formal, company-wide sustainability or ESG policy
- 39% have a formal sustainability or ESG policy at some locations
- 11% have informal policies but no official stance
Where does your team fit in? Do you have a policy, and if so, what kind? The sustainable ideal is to standardize your approach to sustainability with a formal, company-wide ESG policy. Fortunately, this year’s SoSM reveals that those with formal policies is up 8% over last year’s results, so the space as a whole is moving in the right direction.
This year’s report also has some interesting things to say about where manufacturers’ priorities lie in 2024. Top of the list was Energy Management, with 35% of respondents indicating it’s their top ESG concern this year. It beat out both Product Quality/Safety and Health & Safety, tying for 2nd place with 33% each.
With pressures on energy markets around the world, energy concerns in 2024 should come as no surprise. Companies are increasingly seeing sustainability not just as a cost center, but a means to directly affect their bottom line.
You can find more fascinating industry trends in the full report.
What are your top takeaways from the 2024 State of Smart Manufacturing Report? Let me know in the comments down below.