A sustainable business strategy shows how businesses can thrive, grow and be responsible stewards of the planet and communities. Business leaders are focusing on environmental, social and governance (ESG) and sustainability strategies to build resilience in business and long-term growth.
The survey tried to understand what metrics and measurement actions companies use to advance their corporate sustainability efforts. Where are they in their sustainability journey, and how can they overcome the myriad challenges to reduce their carbon footprint?
The Sphera Sustainability Survey Report 2021 will be released on September 30, 2021. Sign up now to get notified and download a copy.
We followed the Sphera Sustainability Maturity Model, which provides a framework of sustainability maturity for global companies in terms of commitment, strategy, implementation, measurement and reporting. We surveyed 218 professionals from companies across industries, including Automotive, Construction, Education, Health, Oil & Gas, manufacturing and Technology.
Quick Look at the Findings
Despite the growing focus on ESG and sustainability, we found a clear gap between the intent and implementation of these strategies.
Demands from various stakeholders, from investors to customers, that their company report and disclose their sustainability goals and efforts are on the rise. They want proof of a company’s positive social and environmental impact. But companies are struggling to progress on their ESG reporting promises.
Investment management firms like Blackrock state that companies focusing on ESG and sustainability can weather adverse conditions and benefit from favorable market environments than their less sustainable peers. Going by these market trends, it seems companies cannot afford to lose any more time.
Our survey found that business leaders across industries consider environmental sustainability to be a top-of-mind concern. But while they have set sustainability goals, concrete action to achieve those goals is lagging.
How the Report Can Help
The report explores the key challenges to sustainability and how companies can overcome them. It discusses:
- Where companies stand in the sustainability maturity curve
- The current gap in sustainability efforts
- Tools and strategies to close the gap and transition to a net zero future
ESG transparency will be a key focus for companies in the future. Companies should anticipate greater scrutiny of their ESG strategy and performance. They need the right combination of strategy and technology to support their journey to reduce risk and enhance brand reputation. These robust sustainability strategies, clean and sustainable business practices, and focused emphasis on all three pillars of ESG will help them accurately measure and transparently disclose their performance. Find out more about how companies can get there.