At a glance
Sustainability is about more than just environmental concerns, as reflected in the growing importance of ESG (environmental, social, and governance) reporting. This is superseding CSR – alongside environmental issues, businesses need to consider social issues and governance issues.
Why it matters
There are significant business opportunities in sustainability – $12 trillion in Europe alone – and significant costs if companies aren’t addressing all aspects of ESG – witness the average $4 million fine for data breaches.
Smart businesses can also make big savings and build goodwill among customers if they adopt a sustainable approach that chimes with public sentiment.
- Sustainability equals business viability. They are not separate anymore.
- Leadership, resilience and an ambitious goal are part of building a sustainable business.
- Communications will be crucial: communication equals transparency and transparency equals commitment.