SUSTAINABILITY
Want a more sustainable business? Understand your data The dust hasn’t yet settled on the announcements made and agreements forged at COP26, but attention is already turning to how both governments and private sector organizations will meet the lofty sustainability targets they are expected to. BY JULIE KAE, VP OF SUSTAINABILITY & DE&I, EXECUTIVE DIRECTOR OF QLIK.ORG OF COURSE, this focus is not new but has been given new impetus. Many businesses have been trying to push their sustainability credentials for some time, with accusations of ‘greenwashing’ mixed with others launching more successful initiatives. And it’s no wonder – environmental, social and governance (ESG) concerns are playing an increasing role in all aspects of how these firms are evaluated – from pitching to investors and making procurement decisions, to informing consumer choices. A PwC study found that ESG commitments are driving both consumers and employees in their decision-making; 80% and 94% said respectively that they are more likely to buy from or work for a company that stands up for the environment.
Setting standards for sustainability But how easy is it to show off your green credentials? To attract both customers and talent, it is increasingly imperative that businesses are able to prove their commitment to ESG. The answer for many lies in data – tracking a range of different metrics to demonstrate their impact on the environment and society around them. Reporting information of this kind is on the up; a recent KPMG study noted that 80% of the world’s largest organizations now provide some form of sustainability reporting, up from 13% in 1993.
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ISSUE I 2022
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