[ad_1]
An inability to execute under the pressure of dwindling resources could exacerbate pre-existing risks unless executives take appropriate steps to achieve sustainability.
The second annual Sustainability Survey, conducted by The Harris Poll and sponsored by Google Cloud, reveals that sustainability is a key business issue, touching on everything from climate change and clean air to regulatory compliance and brand integrity .
The global survey of 1,476 top executives in 16 countries revealed a new danger: weak execution. These include greater accountability, better measurement and management, and clear leadership.
Executives Difficult to Prioritize
Research shows that environmental, social and governance (ESG) work has dropped from the number one organizational priority in 2022 to number three in 2023. Many executives point to the macroeconomic environment and pressure from external parties to cut corners in sustainability initiatives and prioritize optimizing customer relationships and growing revenue.
But viewing sustainability as a short-term cost rather than a long-term investment is a missed opportunity. The vast majority (85%) of executives admit that customers are more likely to engage with and do business with sustainable brands, yet 78% are now forced to achieve sustainability with less money than before. Motivation is there, with 72% of respondents saying: “Everyone says they want to advance sustainability work, but no one knows how to actually do it”—a 7 percentage point increase from last year. With better measurement, clear decision-making – through manufacturing and some creativity, companies can better position themselves to make progress towards their sustainability and business goals.
Overcome Accidental Greenwashing
Corporate greenwashing and green hypocrisy remained a common concern among respondents this year, with six in 10 executives (59%) admitting to exaggerating or inaccurately stating their sustainability activities.
Many see greenwashing as accidental, stressing the need for accurate measurement and citing a lack of tools as one of the biggest obstacles to real progress. Executives crave better systems to track their progress, with 87 percent wanting better measurement built into their organizations to help set more accurate goals.
Measurement is key. But we believe that combining accurate measurement tools with more ambitious goals is an untapped opportunity.
Promote internal structural changes
In addition to accurate data, achieving an organization’s sustainability goals requires strong internal teams and structures. Research shows that many executives also grapple with the complex behind-the-scenes logistics of who makes sustainability-related decisions within their companies. Most executives (84%) believe their sustainability programs would be more effective if they had a better structure and clear accountability. But what does “better” look like?
Many see greenwashing as accidental, stressing the need for accurate measurement and citing a lack of tools as one of the biggest obstacles to real progress.
Executives believe that having an engaged leader to manage the sustainability program is the number one action to help advance sustainability efforts. Coupled with strong leadership, 83% believe an agile team structure will help them achieve their goals.
Continue to build a sustainable future
Despite the headwinds, there is reason to be optimistic that organizations will continue to operate and prioritize sustainability. Nearly all companies (96%) have at least one program in place to advance their sustainability initiatives, and program engagement has remained largely unchanged since 2022. Interest in organizational sustainability also remains strong, with 84% of respondents saying they care more about sustainability than ex. – trade arab news agency
[ad_2]
Source link