Global Survey Sees Companies Increasing HSE Spending in 2014Source: EHS Journal | 11 March 2014
More than 62% of corporations worldwide will increase spending on environmental management initiatives in 2014, and 31% will increase spending in the double-digits according to a new report released by independent analyst firm Verdantix.
The survey of 250 heads of environment, health, and safety (EHS) in 13 major economies found that just 3% plan to cut spending in 2014 compared to 2013, while 36% will hold spending in line with inflation. According to the survey data, spending on EHS information systems is set for a significant increase: 55% of the respondents plan to increase spending in this area; 24% are targeting double digit increases in 2014 compared to 2013.
David Metcalf, chief executive officer of Verdantix, said, “Spending on environmental issues such as air, soil, and water pollution, permitting, waste, water, and greenhouse gas (GHG) emissions is in robust shape in 2014. Compared to spend on energy management and sustainability, the EHS market looks much more attractive. Particular hotspots for global environmental spending in 2014 will be EHS software, environmental reporting, auditing, and compliance. Product sustainability has also emerged as a priority theme for 2014.”