INSIGHT #2
Dedicated budgets show belief in the business value of sustainability
KEY FINDING
93% of respondents have dedicated budget for sustainability reporting.
If investment is the surest sign of commitment, this is a positive finding in the survey.
Roughly two-thirds of respondents were working with specific budgets created specifically for hiring staff, buying technology and building processes dedicated to the collection, reporting and analysis of GHG emission and other relevant sustainability metrics.
"Sustainability isn’t a cost, it’s an investment. Resource efficiency can save us money while protecting the environment."
Director, ESG at company with more than $1B in annual revenues
Budgeting for sustainability reporting and compliance
Respondents have dedicated budgets for sustainability reporting and compliance – either working within existing budgets, or planning for new technologies or headcount (or both)
Respondents who indicated that extra budget has been identified for new requirements
Respondents who indicated their board/C-level are funding any headcount and technology needs
Respondents who indicated they are working within existing budgets
Sustainability investments continue to grow
Furthermore, nearly all respondents indicate plans to increase spend for sustainability and compliance reporting within the next three years, citing sustainability as a key strategy for driving new revenue, building brand equity, attracting talent, winning over customers and investors, and enhancing corporate reputations. While compliance is still important, most respondents said that creating value is the main reason for investing in sustainability.
Timeline for increasing spending
Within the next 12 months
In 2 to 3 years
In 3 years or more
Respondents who indicated they are not increasing spending for reporting and compliance
What sustainability leaders are saying
DRIVE REVENUE GROWTH
"With appropriate innovation, it [sustainability] can be a great source to generate revenue and open possibilities for new products that are also friendly to the environment."
Director, Environmental, Health & Safety at company with more than $1B in annual revenues
WIN OVER CUSTOMERS & INVESTORS
"I think sustainability is essential for building trust and loyalty with our customers, who increasingly value transparency and ethical practices."
Director, ESG at company with more than $1B in annual revenues
BUILD BRAND EQUITY
"From my perspective, sustainability is a cornerstone for building brand value and reputation."
Manager, Environmental, Health & Safety at company with more than $1B in annual revenues
ATTRACT TALENT
"[Sustainability] fosters a sense of pride and responsibility among our employees, boosting morale and productivity."
Manager, Environmental, Health & Safety at company with more than $1B in annual revenues