Sustainability Strategies Lacking in Business, Survey FindsSustainability Strategies Lacking in Business, Survey Finds
First in a series of findings from a survey of 200 businesses globally, conducted by sister research firm Omdia.
May 23, 2023
Despite a growing push for sustainability in business operations, a significant proportion of companies do not have a well-defined strategy to achieve it, according to a new survey of 200 businesses globally conducted by sister research firm Omdia.
About a quarter (24%) of businesses say they have a well-defined sustainability strategy. Additionally, for slightly more than a third (38%), sustainability strategy is a work in progress. This is consistent across regions.
These findings come despite industries showing an increased desire to implement sustainable operations. For example, at the recent IBM Think conference in Orlando, sustainability was a major theme, which many big companies have acknowledged and pledged a commitment.
According to Sarah Thuo, partner at IBM Consulting and Americas practice leader for Sustainability Business Transformation Services, sustainability has become a business imperative for companies.
The survey found technology sellers to be ahead of enterprises in moving strategies from planning to actualization. More technology vendors are in processing and implementation, while enterprises had a larger proportion in the assessment stage.
Businesses with more than 2,500 employees are further along in their strategies (60% implemented, 27% implementing). Meanwhile, 40% of businesses with fewer than 2,500 employees are still in the process of implementing it while 20% have a strategy in place.
Smaller enterprises are most in need of guidance to move their sustainability strategy from processing to implementation.
About the Author(s)
You May Also Like