DUBAI, UAE — In a transformative era where global businesses grapple with the imperative of sustainability, the United Arab Emirates (UAE) emerges as a beacon of change, steering its corporate landscape toward regenerative practices.
As the UAE asserts itself as a key player in pursuing a sustainable future, a profound shift is witnessed among the country’s business leaders.
A recent analysis by global consultancy Kearney reveals a noteworthy shift in the mindset of C-level executives in the UAE, with 57 percent recognizing the compelling opportunity to pivot toward regenerative business practices.
This aligns with a global trend, as businesses worldwide grapple with the transformative potential of regenerative approaches in areas such as organizational culture and supply chain management.
At A Glance UAE as a Sustainability Leader: The UAE is emerging as a leader in steering global businesses towards sustainability and regenerative practices. Shift in Business Leadership: A significant shift is seen among the UAE's business leaders towards sustainable future goals. What Is Regenerative Business? Regenerative models focus on adding value to society, leveraging digital innovation and advanced analytics. Comprehensive Business Transformation: Regenerative approach involves revamping the entire business system, including supply chain, customer experience, and culture. Global Consensus on Regeneration: 99% of global business leaders recognize the importance of regenerative business, but only 43% are currently implementing it. Guidance for C-Suite Executives: 40% of executives are effectively implementing regenerative culture, while 45% have regenerative supply chains. CEO vs COO Perspectives: Differences in perceptions of regenerative effectiveness between CEOs (48%) and COOs (58%). UAE's Progressive Stance: UAE exceeds global average with 57% of executives seeking to improve regenerative practices, especially in organizational culture, supply chain, and data analytics. Retail and Energy Sectors Leading: Retail sector leads in regenerative practices, with over half of businesses operating regeneratively. The energy sector reports 46% effective regenerative operations. UAE's Strategic Focus Areas: Emphasis on organizational culture, supply chain, and data analytics for sustainable and regenerative growth. UAE's Global Leadership Role: The UAE is at the forefront of the global shift towards sustainable and regenerative business models.
The survey, titled ‘Regenerate: For a Future That Works for Everyone,’ delves into the perspectives of 800 global C-suite leaders, shedding light on the growing importance of embracing regenerative business models.
Understanding ‘regenerative business’
In the pursuit of sustainability and societal well-being, businesses are increasingly adopting regenerative models, leveraging digital innovation and advanced analytics. Rather than merely focusing on efficiency, regenerative businesses seek to add value back into society and the world at large.
Kearney’s report emphasizes that this transformative approach involves regenerating the entire business system—from supply chain to customer experience and organizational culture.
The global landscape
The research highlights a global consensus among business leaders, with 99 percent acknowledging the importance of becoming a regenerative business. However, there needs to be more recognition and implementation, as only 43 percent of companies worldwide are currently operating regeneratively.
The C-suite executives recognize the need for more guidance on this paradigm shift, with only 40 percent effectively implementing a regenerative culture, and 45 percent operating a regenerative supply chain.
Among CEOs, 48 percent feel their businesses are very effective at operating regeneratively, while COOs, although broadly in agreement, see further progress to be made (58 percent). The regenerative business model already influences leadership styles, with 47 percent of CEOs globally incorporating it effectively into their leadership.
UAE’s distinct perspective
In the UAE, 57 percent of C-suite executives express a desire for improvement in their businesses’ regenerative practices, surpassing the global average of 56 percent. Notably, they see significant opportunities in regenerating organizational culture (72 percent vs. 57 percent globally), supply chain (70 percent vs. 60 percent globally), and data and analytics (64 percent vs. 52 percent globally). This reflects the UAE’s commitment to adopting regenerative principles, with 45 percent of businesses already making strides toward operating a regenerative supply chain.
Leading industries
While 92 percent of C-suite leaders globally believe in the responsibility of businesses to create a future that works for everyone, the retail sector emerges as a frontrunner in adopting regenerative practices.
Over half of retail businesses (53 percent) are already operating regeneratively, with 35 percent doing so very effectively. Technology plays a pivotal role in limiting the waste of energy and materials, driving sustainability in the retail sector.
The energy sector is also making significant strides, with 46 percent of C-suite leaders reporting effective regenerative operations. Leaders in this sector highlight the need for systematic changes to their business models, including a responsible and deepened approach to advanced analytics.
As UAE businesses embrace the call for regenerative practices, the shift toward sustainability and societal value creation becomes increasingly evident. The journey toward a regenerative future requires commitment, guidance, and collaborative efforts.
The UAE’s distinct focus on critical areas like organizational culture, supply chain, and data analytics positions it as a trailblazer in adopting regenerative business models. As businesses across the globe grapple with this transformative shift, the UAE stands at the forefront of a sustainable and regenerative future.