57% of Surveyed Fortune 1000 C-suite Plan to Increase Sustainability Investments Despite Economic Uncertainties, Stem Survey Reveals

Investor demand and revenue opportunities drive C-suite leaders’ sustainability plans

Stem, a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the results of a new survey that reveals Fortune 1000 C-suite leaders’ perspectives on and investment plans for sustainability. According to the survey, despite current economic uncertainties and ongoing energy challenges, a majority (57%) of leaders are increasing their investments in sustainable solutions and clean technology. The survey findings highlight a critical shift in the business landscape, driven by two principal factors: (40%) investor demand and (39%) the potential for new revenue sources. Investments in sustainability technology, specifically AI-powered software and clean energy storage solutions, emerged as a priority among Fortune 1000 leaders in the U.S. to tackle energy costs, decrease emissions, and unlock new revenue streams.

Importantly, the urgency of sustainability investments was confirmed with nearly all (93%) respondents agreeing energy challenges will negatively impact their business in the next 12 months, and 99% are planning to focus on cleantech solutions over the next 12 months to help address those energy challenges.

Leaders’ sustainability investments encompass many new energy-efficient technologies and digital software solutions. Fifty-three percent are specifically tapping the power of software to improve efficiency. Above all, the survey showed that battery storage (60%) and energy optimization software (60%) are the main energy technologies that leaders are currently adopting or planning to adopt. Thirty-five percent plan to combine these powerful technologies together. Leaders also see data integration (53%), artificial intelligence (AI) software (52%), and application integration (51%) as top digital technologies they need to reach their sustainability goals.

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Beyond their core sustainability investments, leaders are also taking advantage of new government legislation and policies: 92% of leaders are using tax incentives offered by policies like the Inflation Reduction Act. Over half (53%) have made minor improvements to their existing sustainability initiatives based on new policies and legislations, and 39% have started major new initiatives. They are funding these projects with re-distributed budgets (55%), incentives from utilities (50%) as well as federal or state tax incentives (46%).

“Sustainability investments can fuel growth and better position businesses for future success. In the short term, these investments can save costs and counter the negative effects of energy challenges, and in the long term they can provide an additional revenue source,” said John Carrington, CEO of Stem. “Stem believes that by integrating advanced clean energy technologies, businesses are better able to achieve enhanced resilience, a competitive edge, investor support, and long-term profitability, demonstrating that the drive toward sustainability is not just a moral or social commitment, but a key business strategy. At Stem, we’re seeing this take shape as our customers, including multiple Fortune 500 companies, leverage our integrated, AI-driven solution to maximize value across their clean energy assets that include battery storage, solar, and EV charging.”

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