Nearly three-quarters of corporate leaders say most organizations in their industry would be caught greenwashing if they were investigated thoroughly
. Despite that threat, the figures are consistent with last year’s findings: Nearly 60% say their own organization is overstating its sustainability methods.
Nearly three-quarters of executives said they want to advance sustainability efforts but don’t actually know how to go about doing it. Top tools identified to improve their ability were having a dedicated sustainability leader, support from senior management, advanced measurement tools, and education for employees and executives. And the two main ways they expect advancement is through technology innovation as well as investment in sustainable operations or services.
With nearly a decade of experience as a CSO, Ms. Brandt said the survey findings reinforced her point of view on how a company can set itself up to be successful. Businesses need strong governance powered by good data and metrics and a dedicated sustainability leader to be the center of gravity but one who can also embed sustainability inside business functions.
Most executives surveyed—85%—said customers and clients are becoming more vocal about their preference for engaging with sustainable brands. However, economic uncertainty means that business leaders have increased their focus on customers, revenue and growth, although ESG issues remain one of businesses’ top three priorities.
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