Not So Green: Most Companies Lack Sustainability Strategy
In a global survey of corporations, results show that one-half of businesses lack a sustainability strategy. Those with a strategy are more likely to be focused on improving perceptions and responding to increasing regulations, rather than meeting social needs or generating revenue opportunities.
In a global
survey of corporations, results show that one-half of businesses lack a sustainability strategy. Those with a strategy are more likely to be focused on improving perceptions and responding to increasing regulations, rather than meeting social needs or generating revenue opportunities.
Although less than half have a strategy today, 55 percent of survey respondents said sustainability will grow in importance and require increased resources and attention.
The study by the Vandiver Group found that nearly one-third of businesses are developing a sustainability strategy, and just less than one-half already have an existing strategy.
Six percent of respondents characterized their company as a "recognized leader" in sustainability. CEOs were reported to be the primary drivers of sustainability decisions. More than 65 percent of companies do not have dedicated sustainability staff. Of those with dedicated staff, nearly half have fewer than five employees working more than half of their time on sustainability.
An overwhelming 75 percent of respondents said sustainability is either "an important part of our organization's corporate strategy," or said they expect the topic "to become increasingly important in the future." The highest-rated business strategy was to create a sustainability vision that establishes a shared roadmap for meeting current unmet needs.
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