SINGAPORE, October 1, 2024 – Business leaders across the Asia-Pacific (APAC) region are emerging as proactive champions of climate action and adaptive leadership, according to a new global survey by leadership advisory firm Egon Zehnder. The survey, The CEO Response, outlines how CEOs globally are preparing for seismic shifts in areas such as the economy, geopolitics, and technology over the next decade, with APAC leaders demonstrating a clear focus on sustainability and personal transformation.
The survey, which polled over 470 CEOs worldwide, including 13% from the APAC region, revealed that 80% of global CEOs now see their role as extending beyond company leadership to driving societal change. Climate change, in particular, has emerged as the top opportunity for collaboration between businesses, governments, and stakeholders, with 32% of respondents citing it as a key focus area.
In the APAC region, climate change is viewed as the foremost concern, surpassing issues such as populism, nationalism, and military conflicts, which are of greater concern in Europe and North America. APAC CEOs see climate action as both a challenge and an opportunity, with the regulation of new technologies like artificial intelligence (AI) ranking as the top opportunity to foster collaboration, closely followed by climate action. This suggests a strategic balance between innovation and sustainability in APAC’s future business approaches.
“APAC CEOs are demonstrating a significant shift in leadership, prioritising both sustainability and innovation,” said Wan May Ang, Partner and Singapore Office Leader at Egon Zehnder. “Their approach to leadership is marked by a growing openness and inclusivity, moving beyond traditional hierarchical models.”
One of the standout findings in the survey is the APAC focus on personal leadership transformation. Some 82% of APAC CEOs believe it is crucial to include diverse and challenging perspectives in decision-making, compared to just 56% in Europe and 62% in North America. Additionally, 28% of APAC leaders ranked personal transformation as “extremely important,” significantly higher than their European (14%) and North American (20%) counterparts.
Michael Ensser, Global Chair of Egon Zehnder, pointed to this as evidence of a broader shift in leadership paradigms. “CEOs are embracing a new era of leadership,” Ensser said. “They recognize that fostering curiosity and openness within their organisations is essential for addressing the complex challenges ahead.”
Another key takeaway is that APAC CEOs are more confident in their ability to navigate future uncertainties. When asked how prepared they felt to handle increasing global business complexities, 24% of APAC leaders rated their preparedness at 7 out of 10, far exceeding the confidence levels in Europe (16%) and North America (12%). This underscores the readiness of APAC leaders to manage challenges such as geopolitical instability, AI adoption, and talent development.
As the global business environment evolves, the survey findings position APAC leaders at the forefront of efforts to balance economic growth with a strong commitment to sustainability and societal progress. Their proactive stance on climate change and leadership transformation sets a distinctive path for the region in the decade ahead.