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Follow on Google News | Corporate sustainability increases profitabilityNew survey reveals that sustainability strategies deliver wider commercial and operational benefits for businesses, but requires meaningful benchmarks.
By: Envido Ltd. According to the survey, improved customer relations, enhanced profitability and the development of new products and services are among the wide-ranging benefits of sustainability strategies. Vincent Neate, European Head of Climate Change and Sustainability at KPMG said "While most of the companies we spoke to implemented sustainability strategies for brand reputation enhancement and compliance reasons, those companies have also benefitted from increased profitability, new and better quality products and services and improved employee morale." The survey confirmed that the main driver behind the development of sustainability strategies remained the desire to enhance brand reputation or comply with environmental regulations. But, the benefits that resulted from such strategies were wider than that, with 32% claiming sustainability helped them attract and retain customers, 31.5% citing increased profitability, and 25% stating that they had developed better quality products and services as a result of sustainability efforts. However, sustainability strategies are held back by the absence of standardised metrics to measure their success. Three quarters of respondents said that the lack of meaningful benchmarks was a challenge for sustainability strategies, while 40% noted that competing short-term business priorities also hampered green efforts. According to Neate, in a tough economic environment, it is crucial that the progress that has been made in engaging the business community in sustainable practices is not affected by lack of measurability. And, he added that task forces set up by the Global Reporting Initiative and the International Integrated Reporting Committee were making progress towards developing common standards for sustainability metrics. # # # Envido is the UK’s leading provider of energy, low-carbon and sustainability solutions for private and public sector organisations. We help our clients reduce their carbon emissions - helping them to conserve energy, save money and boost business performance. With offices in London, Birmingham, Manchester and Ipswich, we work with some of the largest private companies across all industries in the UK, as well as local authorities, NHS Trusts, educational institutions and other government entities. Envido Ltd. +44 20 7199 0090 www.envido.co.uk End
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