Digital Transformation Empowers Sustainability Decisions

COVID-19 has transformed the future of business. Despite all the negative consequences, the pandemic has initiated some encouraging changes. A recent Deloitte report says that “COVID-19 has turned digitization from a ‘nice to have’ to a ‘must have’ for many organizations, forcing them to adapt and modernize quickly in order to keep their operations running.” Companies that quickly identified digitalization opportunities and acted on them right away appear to have adapted better to the new COVID-19 reality.

This should come as no surprise since companies and industries become much more efficient when their processes are supported or enhanced by IT. What does this mean for organizations in terms of their Sustainability programs and initiatives? The general sense of urgency to address Sustainability is intensifying. This means incorporating Sustainability strategy and best practices can create long-term value to help organizations compete in the global economy.

What does this mean in practical terms?

What are companies doing today to set themselves up for a greener tomorrow? To get a snapshot of the state of sustainability in business, Sphera surveyed 133 leaders from companies across industries, including Manufacturing, Construction, Education, Automotive, Oil & Gas, Technology and Health Care. Conducted from September to November 2020, the Sphera Sustainability Maturity Survey helps establish a global benchmark for Sustainability maturity in terms of commitment, strategy, implementation, measurement and reporting.

There are four important insights for business leaders in 2021 from this report:

planet-earth

Organizations are optimistic about early progress in Sustainability.

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Sustainable practices lag behind commitments.

transparency

Transparency is a top priority.

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The window of opportunity to digitalize sustainability efforts has opened.

More insights about how companies around the world are prioritizing sustainability, executing on implementation and delivering value will be published in our upcoming “2021 Snapshot of Sustainability Maturity” report.

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