Sustainability a Business Opportunity, says BT (31-Oct-07)
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Full story: Sustainability a Business Opportunity, says BT (31-Oct-07)
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LONDON, Oct. 31 /PRNewswire/ -- A major international study by the Economist Intelligence Unit, sponsored by BT, has revealed that organizations are failing to realize business benefits from sustainability programs. While almost half (46 per cent) said that sustainability programs helped improve brand value, just one in five (20 per cent) felt they improved profitability.
The research indicates that, while sustainability may be firmly on the boardroom agenda as organizations compete for a are sponsible' reputation, executives have yet to find a way to harness it as a commercial force. One third (33 per cent) of respondents admitted that their company only makes sustainability efforts in markets where it is perceived to have an impact on customers' perceptions of the firm, and a similar proportion (31 per cent) admitted that their company's sustainability efforts mostly center on communication, rather than actual change.
James Watson, senior editor at the Economist Intelligence Unit, said: "Many companies are moving away from mere rhetoric towards real business initiatives. However, a gap remains between what companies claim they are achieving in terms of managing their social and environmental impacts and the extent to which their executives feel involved in these activities. Companies need to devise strategies that do more to engage staff in sustainability through their day-to-day activities."
Francois Barrault, CEO, BT Global Services, said: "The link between sustainability and commercial success is, without doubt, becoming clearer all the time. Our own sustainability performance is helping us win deals, create new offerings and build enthusiasm among our workforce."
The research went on to identify that sustainability programs were missing out on board-level leadership. In two out of five organizations (40 per cent), the person responsible for sustainability issues did not report directly to the board, while 23 per cent of organizations had no person responsible for such matters.
Barrault said: "The key to helping sustainability programs benefit society, the environment and profitability is leadership. All organizations, BT included, are at the start of this journey, but now is the time for CEOs and CFOs to lead from the front. Our own experience is that sustainability can be a win-win for all concerned - local communities, emerging economies, the environment and also the bottom line."
- Source: Earth Times
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