In 2020, sustainability will be the most important theme discussed in corporate boardrooms worldwide, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Sustainability – Thematic Research’, states that public anger at the lack of action on climate change, corruption, income inequality, tax avoidance, and other social ills makes it harder for chief executives to ignore sustainability.
The sustainability movement has momentum on its side. Citizens, governments, regulators, and the media are turning the spotlight on corporations and demanding action. Social inequality, corruption, tax avoidance, and a lack of action on climate change are all issues that companies must now address head-on, with full transparency.
The reluctance of many CEOs to fully engage with sustainability can be attributed to the age-old view that it will hurt profits. However, the evidence in this report suggests the exact opposite. Companies that embrace all three pillars of sustainability will outperform their peers. CEOs that are too slow to improve their company’s approach to sustainability will see an exodus of customers and a drop in profits far sooner than they ever imagined.
In this report, GlobalData sets out a comprehensive sustainability framework – based on environmental, social, and governance issues – to help CEOs identify all potential sustainability risks and implement mitigating actions that can improve their company’s ESG performance.
Cyrus Mewawalla, Head of Thematic Research at GlobalData commented: “While previous decades have witnessed environmental movements, the current wave of sustainability consciousness is unprecedented. Each new climate-related emergency, human rights violation, or corruption scandal reinforces the public opinion that companies must become more sustainable.”