CORPORATE RESPONSIBILITY
Divides and Dividends Study IT IS NO LONGER business as usual. The long-held belief that companies exist solely to serve the needs of shareholders is being challenged. Employees, customers and investors increasingly see private enterprise as a vital player in a much wider sociological, ecological, and economic system—and business leaders are now expected to not only create value for their companies, but also for the communities in which they operate. Countries are at different starting points in their sustainability journeys. With Canada’s emissions exceeding the G20 average, organizations are under pressure to make sustainability a top business priority. Many are seizing this opportunity to transition, with countless leaders pledging their commitment to net-zero targets and other sustainability goals. The challenge will be how to translate this goodwill into action. Radical transformation — including the kind required to transition to sustainable business — is an arduous task. There is no pre-established playbook, and it involves many complex tradeoffs. Yet those who are able to drive concerted sustainability action will unlock myriad financial and non-financial dividends — from faster top-line growth to more engaged employees and more loyal customers. Against this backdrop, Russell Reynolds Associates set out to understand how much progress organizations are making towards sustainability across 11 countries — and map a path forward. By surveying three distinct groups — C-suite executives, next-generation leaders and employees — we were able to identify what a cross-section of the global workforce thinks about the maturity of their organization’s sustainability strategy and the ability of their leaders to advance the agenda. In Canada, three key themes emerged: 01. Macro, Micro and “Me” There is an opportunity for Canadian C-suite leaders to better understand the issues that their employees care about. When asked about the top challenges affecting the future of society, C-suite leaders zeroed-in on economic
12
TOTAL FINANCE
SPRING 2022
