Corporate sustainability programs aren’t typically integrated with tax departments, and that could be costing companies valuable financial opportunities, according to new research from Ernst & Young LLP.
The survey, entitled Working Together: Linking sustainability and tax to reduce the cost of implementing sustainability initiatives, included responses from 223 senior executives at companies predominantly in the US. 19 percent of those polled were Chief Sustainability Officer (CSOs), while the remaining 81 percent were tax directors or their equivalent. Responses from each group were vastly different, highlighting the lack of coordination between the two groups. For example, only 28 percent of tax directors believe their company has a sustainability strategy or is developing one, compared to 90 percent of CSOs surveyed. In addition, the survey results showed that: (more…)