A new survey from the British Standards Institution (BSI) has found that sustainability is a key growth driver for 70% of business executives as they associate sustainability with their company’s financial performance and are therefore willing to invest in staff to manage and deliver it.
However, only 51% of the respondents think that sustainability issues will impact their company’s financial performance over the next two years.
According to How sustainability standards can drive business performance, this appears to be the case whatever the size of the company or the sector in which it operates, with sustainability performance reporting also on the rise.
Many organisations were found to be using ISO 14001 Environmental Management and ISO 50001 Energy Management system standards and 81% of respondents have more than five employees dedicated to sustainability at a management level.
Although about a third believe that their sustainability spend will remain flat in the next financial year, 64% are confident of budget increases with 31% expecting an increase of up to 5% and 23% looking at an increase of between 5 and 10%.
The survey found much variability between organisations in terms of approach, maturity, interest from executives and resources available for sustainability.