A Non-sustainable Company is Unsustainable.
“People like to know that the companies they interact with and buy from are companies that do good in the world” Hendrith Vanlon Jr, CEO Mayflower-Plymouth
As the international clock ticks away, it becomes evident how fundamentally important environmental sustainability issues are to commercial survival as businesses becomes increasingly accountable, not only for its finances, but for sustainability of their operations.
What with Environmental, Social and Governance (ESG) issues regularly featuring on board meeting agendas, fixing small, medium, and large businesses’’ sights on sustainability and climate change will become an important feature as part of its internal and external audit.
For many, the immediate need is still about surviving the post-pandemic world and, understandably so, sustainable practices may not be high on a firm’s agenda just yet. Many are still in survival mode but need to consider its ESG capability and recognition is something to focus on.
The concept of embarking on an ESG journey with the view to focusing on building and strengthening sustainable business practices with verifiable social and environmental practices can provide your business is one of the last legal ways to have an edge over your competitors. It is not and overnight journey, we know Things Take Time. The good news? We can help. Feel free to contact us on esg@primakonsult.com
Footnote:
- Research from IBM and the National Retail Federation shows that half of U.S. consumers are willing to pay more for sustainable products, and 62% of consumers are willing to change their shopping habits to reduce environmental impact.
- Globally, reports show that 85% of people have changed their purchasing habits to become more sustainable in the past five years.
- A 2022 survey found that nearly 80% of retailers who’ve dedicated resources to improving sustainability believe their efforts have resulted in increased consumer loyalty.