A new Gartner, Inc. survey revealed that 87% of business leaders expect to increase their organisation’s investment in sustainability over the next two years. Customers are the primary stakeholder group creating pressure for organisations to invest or act on sustainability issues, selected by 80% of executives, followed by investors (60%) and regulators (55%). “Sustainability enables businesses to cope with disruption,” said Kristin Moyer, Distinguished VP Analyst, Gartner. “Economic uncertainty, geopolitical conflict and escalating materials and energy costs are forcing businesses to reexamine all forms of expenditure. This focus on essentialism, in combination with increasing stakeholder desire to see progress on environmental, social and governance (ESG) goals, creates new opportunities for enterprises to grow while mitigating cost and risk.” The survey was conducted in June and July 2022 among 221 respondents in North America, Europe and Asia/Pacific. Respondents were executives in director roles or above within organisations with enterprise-wide annual revenue of at least $250 million for fiscal year 2021, which are currently engaged in sustainability-related activities.
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As society becomes more mindful of the effect it has on the environment and takes steps to lessen this impact, we are beginning to see the business world follow suit. While the majority of organisations have traditionally relied on a linear business model, it has become clear that this way of operating follows a pattern of ‘take-make-waste’.