By Federica Urso

(Reuters) – A new survey has revealed that chief executives are increasingly concerned about sustainability as one of the most important challenges they will face over the next 2 to 3 years.

Global survey of 3000 CEOs from over 40 countries, 28 industries revealed the results. IBM (NYSE: ) Institute for Business Value (IBV), an IBM think tank, showed how sustainability was becoming a core part of companies’ agendas.

Firms face increasing pressure from their stakeholders as they try to figure out how to adapt in the wake of the global disruption caused by coronavirus.

According to the report, sustainability was at the top of the agenda for 51% CEOs (up from 32% in 2021), with investors and board members demanding more action.

This was driven also by the growing consensus that sustainability initiatives can help companies achieve greater business performance.

IBV stated that “the perception that social and environmental agendas must be negotiated with better business results is falling apart.”

The report revealed that more than 80 percent of CEOs polled expect sustainability investments to improve their business performance over the next five-years.

The chief executives acknowledged that there are many obstacles to success, but 57% pointed out uncertainty about return on investments and economic benefits.

Another challenge was poor data collection and regulatory hurdles.

IBV stated, “CEOs need to address the inherent challenges that arise from disrupting status quo.” It is essential to find the best roadmap.