2Sustain

Back on February 22, I wrote about my mixed feelings regarding the results of a McKinsey Global Survey that looked at how companies view climate change. On the one hand, there was the positive: 60 percent of companies polled regarded climate change as strategically important. But, on the other hand, there was the less-than-positive: more than 33 percent of the responding firms stated that they “seldom or never” consider climate change when developing their strategies.

Now, only four months later, Pinnacle Worldwide (PWW) has released findings from a similar study. Once again, the survey results present somewhat of a mixed bag.

For instance, consider this:   

• 50 percent of respondents in the PWW survey said their business lacked a sustainability strategy
• Of those businesses with a strategy, most are likely to be focused on improving perceptions and responding to increasing regulations, rather than meeting social needs or generating revenue opportunities

Disheartening? Could be. But, keep in mind that those two points tell only part of the story. PWW also reported that:

• A full 75 percent of survey respondents said sustainability is either "an important part of our organization’s corporate strategy," or that they expect the topic "to become increasingly important in the future”
• Slightly less than 50 percent of the companies polled already have a sustainability strategy in place
• Another one-third have a sustainability strategy in development
• Interestingly, CEOs are the primary drivers of decisions regarding sustainability decisions

The PWW survey polled a wide range of (mostly) CEOs, representing companies from six continents, 25 countries and 40 different industries.    

Taken together, the McKinsey and PWW surveys point to a trend that’s moving in the right direction. With each study, we’re seeing that companies are making significant efforts with regard to energy and emissions management and GHG reduction programs.

Of course, all of this is very good news for businesses that play supporting roles in this sea-change. When 75 percent of a group of business leaders agree that sustainability is either "an important part of our organization’s corporate strategy," or that they expect the topic "to become increasingly important in the future,” there’s plenty of reason to be optimistic. The whole spectrum — from environmental consultancies and technology firms to alternative energy start-ups and green investment groups – stands to benefit now that board rooms are starting to focus on sustainability.