ERM reposted this
While many companies have set sustainability goals, a new ERM survey reveals that implementing them can be a bumpy ride, with a lack of incentives and internal engagement being among the highest hurdles. The ERM Sustainability Transformation Survey canvassed 1475 C-suite and managers across industry sectors to examine business progress on operationalizing sustainability goals and identify the stickiest barriers to success and how to overcome them. Some key findings are: • Lack of financial incentives, technology, and regulation are the top barriers . Respondents see the lack of financial incentives linked to sustainability performance as the biggest barrier to sustainability progress, followed by expensive technology and a lack of forceful regulations. • C-suite leaders are more positive than managers. C-suite executives are more optimistic about their organizations' sustainability performance than managers and report higher professional involvement in sustainability efforts. • Critical business functions are not engaged. Despite their crucial role in implementing sustainability goals, employees working in operations and infrastructure feel the least engaged and rate their company’s sustainability progress as low. • Companies see more progress on equity & social issues vs climate and nature. Respondents across functions, sectors, regions, and roles all rate their companies’ progress on equity & social issues notably higher than their companies’ progress on climate and nature. • Integrating sustainability into organizational processes holds the key. Circular practices, better training, sustainability-tied financial incentives, and operational integration of sustainability goals were rated as the top solutions to accelerate progress. At the same time, better training and financial incentives are the most underutilized solutions at companies. If we want to accelerate the operationalization and integration of sustainability, companies first need a clearer picture of where and why progress is getting stuck. Read our full survey report for detailed data, insights, and recommendations: https://lnkd.in/eH8uhwip Jacco Kroon Aiste Brackley #sustainability #transformation #ERM