More than two-thirds of businesses are strengthening their commitment to sustainability, according to a new study by MIT Sloan Management Review and The Boston Consulting Group. The study found that 69% plan to step up their investment in and management of sustainability this year. Additional findings include:
• Just over one-quarter (26%) of respondents plan no change, and only 2% intend to cut back on their sustainability commitments.
• A two-speed corporate citizenship landscape is emerging, with a gap between sustainability “embracers”—those who place sustainability high on their agenda—and non-embracers or “cautious adopters,” who have yet to focus on more than energy cost savings and material efficiency.
• 70% of embracers say they believe their organizations outperform industry peers. By contrast, only 53% of cautious adopters describe themselves as “out-performers.”
• Nearly three times as many embracers (66%) than cautious adopters (23%) said that their organization’s sustainability actions and decisions have increased their profits.
Source: MIT Sloan Management Review/Boston Consulting Group