The Sustainability in Technology report from iResearch Services has been published to coincide with the COP27 climate conference in Egypt. It found that 91% of the 550 canvassed C-suite executives believe that some if not all tech companies have indulged in greenwashing. 

A similar number (89%) say that it is important that the public sees their company as sustainable and ethical. This is not only for regulatory puproses but also to win more customers and generate better financial returns, according to 52% and 38% of respondents.

Yet, the research shows a clear disconnect between the percentage of leaders that see sustainability as important (80%) and those that are satisfied with the level of sustainability at their own companies (65%).

According to Yogesh Shah, CEO of iResearch Services, the report "reaffirms the emphasis of the C-Suite on sustainability issues but shows that we are still significantly far off from where we need to be". 

“What remains clear is the need for private capital to do more," he added. "The tech industry represents one of the fastest growing sectors globally and the emphasis within the sector has always been one of growth and innovation. This report highlights how that needs to change, with that focus shifting to sustainability issues.”

The financial sector has come under increasing pressure over claims of greenwashing. Asset manager DWS saw its chief executive resign over greenwashing accusations while the UK's financial watchdog the Financial Conduct Authroity recently issued new rules to clamp down on the practice. 

Finextra recently announced its fifth Sustainable Finance Live conference and hackathon, scheduled to take place on 29 November. For more information and to register for this event, please visit the event page here.