The Best Intentions of C-Suite on Corporate Sustainability -- Results in are in With Sharing of Bain & Co Survey
This is not encouraging: the respected management consulting company Bain & Company surveyed the leaders of 300 companies engaged in "sustainability transformation" and conducted interviews with heads of sustainability recognized for outstanding results.
The question: What are the results of instituting sustainability as a top priority? The answer: Alas, not really encouraging for stakeholders, says Bain & Company. There's an important "but" here with tips for CEOs and C-suite on how to overcome the odds of losing forward momentum in corporate sustainability efforts.
The management consulting firm published the results of its research in: "Achieving Breakthrough Results in Sustainability." This effort found that for the 300 companies, only two percent (2%) of their corporate sustainability programs achieved or exceeded their aims when compared to the companies' other transformation programs (which had a 12% success rate). There are "change traps" that keep companies from reaching their goals.
Key quote: “Too often, sustainability gets stuck in first gear, while the need for change is accelerating,” said Jenny Davis-Peccoud, who leads Bain’s Sustainability & Corporate Responsibility practice. “Once companies learn to navigate common roadblocks, they open the door to a transformational journey and the potential to leave a legacy, prompting companies to redefine what it means to be a leader in their industry.”
We see this in our analysis of corporate sustainability reporting as the Global Reporting Initiative data partners for the United States, United Kingdom and Republic of Ireland. The corporate leaders in sustainability have made "the journey" an integral part of strategy-setting, operations, marketing, employee motivation, stakeholder (including investor) engagement, and incentivizing internal behaviors. The "leaders" and "laggards" in sectors and industry categories self-identify through their reporting on achieved progress (and stalled progress is also apparent).
For 2016 our analysts reviewed more than 1,500 corporate sustainability / responsibility / environmental progress / citizenship reports published by companies and databased key characteristics, data sets, achievements, and more. This intelligence is leveraged in our client services, shared research and teaching programs.
This is just a sample of some of the articles from this weeks SustainabilityHQ Highlights. You can view the full Highlights by using the following links. Sustainability | ESG, Highlights for the Week of February 02, 2017