PwC’s 25th Annual Global Chief Executive Officer Survey polled 4,446 CEOs in 89 countries and territories in October and November.

The CEOs surveyed are the most optimistic they have been in 10 years about the prospects for a stronger economy, with more than three-quarters, 77%, predicting that the global economy will improve.

However, they are also well aware of potential threats that could impact their companies over the coming 12 months. Similar to last year, cyber and health risks rank as the leading global threats, identified by 49% and 48% of CEOs, respectively.

Understandably, a high percentage of hospitality and leisure CEOs (75%) are concerned about the impact of health risks on their business.

Only one third of CEOs identified climate change as a top concern for the coming year, reflecting a belief that it will not impact revenue growth in the near term. But longer term, ensuring net-zero commitments are central to company strategies will be essential not only to mitigating climate change risks but to meeting customer as well as investor and employee expectations.

Trust was also found to be correlated with net-zero commitments. CEOs of companies ranked highest for trust are significantly more likely to lead organisations that have made a net-zero commitment (29%) than those ranked lowest for customer trust (16%). About half of CEOs who lead organisations ranked highest for trust have customer satisfaction (51%) and employee engagement metrics (46%) tied to their personal bonus or incentive plan.

Nick Halsall, senior partner at PwC Isle of Man, said: ’Over the next 12 months CEOs are understandably concerned about potential threats to short-term performance that could result in disruptions, including cyber risks. Having the appropriate cyber security skills, both in their workforce and at board level, remains a priority in order to predict, prepare and respond to the risk.

’While threats such as climate change are further down the list, it is critical not to lose focus on these more long-term issues, and incorporate ESG targets into strategy. The correlation between trust and net-zero commitments highlights the commitment from large organisations leading the way. We believe companies built on a strong foundation of trust will be fortified and their CEOs best positioned to deliver sustained outcomes that contribute to long-term success.’