Sustainability goes strategic
Interesting research from KPMG saying that almost 55% US companies have a sustainability strategy. KPMG go on to say:
When asked to identify the key business drivers for implementing sustainability-related business objectives within their companies, the U.S. executives cited enhancing brand reputation (37 percent), regulatory or legal compliance (35 percent), reducing costs (34 percent), product or service differentiation (24 percent), and increasing profitability and managing sustainability risks (both 23 percent). Other business drivers included: customer retention (20 percent), staying competitive (15 percent), generating shareholder value (13 percent), and recruitment and employee retention (8 percent).
This research backs up three of the main points from The Green Executive:
1. That instead of an issue to be “managed” by environmental managers with environmental management systems, sustainability is a strategic leadership issue;
2. “Go green, save money” is for amateurs – the real benefit is competitiveness in the marketplace (which in turn should inform your entire strategic approach);
3. While everyone gets excited about going “beyond compliance”, never forget about compliance. Compliance is the base of the business case for sustainability pyramid – if you get it wrong then the whole thing comes crashing down.
By the way, I’m planning a load of freebies for this month’s Low Carbon Agenda to celebrate the publication of The Green Executive – sign up here to make sure you get them!