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Corporate execs wary of sustainability driven revenue
30
May '16
Courtesy: Ethicalcorp
Courtesy: Ethicalcorp
Business Intelligence provider Ethical Corporation's recently-published survey of 2000 plus business executives has found that only half of them believe that sustainability is driving revenue.

In the recently-published State of Responsible Business 2016 report, UK-based Ethical Corporation found that 49 per cent of corporate respondents either “don't know” or “don't believe” that sustainability is driving revenue for their business.

The report says apparel, FMCG and manufacturing firms are amongst the most likely to acknowledge the benefit of sustainability in this way, and those from financial and professional services sectors were less likely to agree.

According to the report – which builds upon the inaugural report published last year – 52 per cent of apparel, FMCG and manufacturing respondents said that they pay for external assistance with their sustainability strategy.

Seventy one per cent of corporate/brand respondents said that their CEO is convinced of the value of sustainability.

The report found that there's been a 9 per cent increase globally in those feeling that sustainability is integrated tightly enough into broader business strategies.

Ronan Dunne, CEO of O2 said: “Ethical Corporation's second State of Responsible Business report provides up-to-date insight into how corporate sustainability is viewed, organised, and prioritised. Over time, it will provide valuable intelligence about how businesses are adapting and innovating to meet some of the world's most pressing challenges."

Malcolm Preston, Global Sustainability Leader, PWC, said: “I welcome this report which gives us a snap-shot of how the Corporate Sustainability agenda is progressing year on year. It broadly confirms what I see in the market – a growing understanding of the issues at Board level and a recognition that incorporating responsible business principles is not a “nice to do”, but a business imperative for the 21st century.” (SH)

Fibre2Fashion News Desk – India

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