A survey conducted by accounting firm KPMG International found that companies are increasingly focusing on sustainability when developing broader corporate strategies. Nearly all of the 50 specialists interviewed reported that their companies had high ambitions for environmental, social and governance (ESG) efforts, with around half perceiving sustainability as a strategic issue.
“Sustainability is growing in strategic importance for companies, with increasing reporting requirements on environmental, social and governance, as well as other demands on the organization regarding sustainability,” said Nadine-Lan Hönighaus, the Global ESG Governance Lead for KMPG International.
Around 25% of companies reported having a board-level sustainability committee, with another 20% saying its discussed on a committee level that also covers other topics. Many of the sustainability professionals believe their tasks will become a bigger part of everyone’s job in the future.
“Businesses have the opportunity to embed robust ESG and suitability governance by ensuring effective connectivity between functions—from finance to internal operations and supply chains—which can both help to enable compliance with reporting requirements and the identification of sustainable value creation opportunities through enhanced operational transparency and data-driven insights,” said ESG Global Head John McCalla-Leacy.
