GETSMARTJUNE 2022COMPILED BY SUSAN MULDOWNEYTIME TOSTEP UP ONSUSTAINABILITYManaging environmental, social and governance (ESG)factors can often take a back seat to traditional businessmetrics, but consumers are now expecting more fromorganisations when it comes to sustainability.The latest ESG Global Study from Oracle shows that93 per cent of people believe sustainability and socialfactors are more important than ever, and almost80 per cent of them are frustrated with the lack ofprogress by business on these initiatives.Based on a survey of 11,005 respondents from15 countries, including Australia, China, Singapore andthe US, the report shows that while business leadersagree that more progress needs to be made, almostall face significant challenges in meeting their ESGgoals. Along with operational challenges, 96 per cent ofbusiness leaders admit human bias and emotion oftendistract from the end goal.However, 70 per cent of respondents say they arewilling to end their relationship with a brand that doesnot take sustainability and social initiatives seriously,and 69 per cent would even leave their currentemployer to work for a brand that places a greater focuson these efforts. Organisations have much to gain fromstepping up their ESG efforts – the report shows that ifan organisation can clearly demonstrate its progress onenvironmental and social issues, people would be morewilling to pay a premium for their products and services(87 per cent), invest in them (83 per cent) and work forthem (83 per cent).DOWNLOAD THE STUDY HERE10 ITB June 2022
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