According to a 2017 MIT Sloan Management Review, corporate sustainability is no less than a huge concern for executives [source]. In fact back then 90% of them said that it is important.
However, the sad fact is that only 60% of companies have their very own sustainability strategy. Only 25% have a clear business case zeroing on corporate stability.
Have Things Changed Since Then?
Fast forward a few years, has the sentiment changed? According to a recent Salesforce Research survey, it hasn’t.
60% of customers and employees today say that corporate sustainability is nothing short of a moral imperative. In fact 80% of those surveyed believe that companies today should prioritize other things than making profit.
There is a growing demand for more sustainable business practices among professionals today. 79% of employees from the tech industry expect it while 69% of employees from other sectors demand sustainable practices.
What does this mean? It means that more employees want to know whether their professions contribute to the betterment of the world or not. 72% of those surveyed say they expect sustainable business practices from their employers.
A Worthy Investment
One of the things that hold back companies from shifting to sustainable and environment friendly operations is the cost involved. However, research points out that sustainable energy sources can be a boon as to businesses.
There are plenty of alternative energy sources today. On top of that they are cheaper compared to fossil fuels. Reducing a company’s usage and dependence on fossil fuels is fast becoming more viable and more economical.
It is Everyone’s Concern
Again, according to the same survey, 54% of employees say that they tend to trust a company that strives to be more environment friendly.
This shows that corporate sustainability isn’t just a corporate initiative. It is an opportunity and challenge to everyone to prepare a better world and environment for the coming generations.