Direct Correlation Between Companies’ Sustainability Practices and Business Performance: Report
Companies that have embedded sustainable climate-related practices into their organizations see significantly better business performance than those who have not, according to a new study released by Genpact, a global professional services firm focused on delivering digital transformation.
July 13, 2022. By News Bureau
The research, Tech for Progress 360: Accelerating climate action with data-led insight, finds that 58% of senior executives who strongly agree that their companies have embedded environmentally sustainable business practices – the sustainability leaders – have better business performance compared to 40% of other respondents.
These leaders also are most likely to say their organizations adopted new technologies over the previous two years (70% vs 45% of other respondents), demonstrating that forward-thinking companies often lead the way on multiple innovation fronts.
They understand the necessity of leveraging digital technologies and data across their organizations as well as the importance of putting environmental sustainability practices front and center in their businesses.
For those sustainability leaders, technology plays a critical role in helping them achieve their ambitious goals. Half of the respondents recognize the potential of artificial intelligence (AI) and 40% see the potential of advanced analytics to advance their climate-related sustainability goals.
Conversely, those who have less established practices are less likely to call out the value of these technologies. This underscores an ongoing and widening gap between those leaders who know how to use AI, data, and analytics to unlock enduring value for their organizations and those who do not.
The research reflects input from 510 senior executives from large global enterprises. It examines the challenges and opportunities businesses face as customers, investors, and employees seek out responsible businesses, and regulators impose more environmental, social, and governance (ESG) reporting requirements.
“As businesses grapple with economic uncertainties, the time is ripe to identify, manage, and reduce ESG-related risks that can have a significant impact on the environment and a company's long-term sustainability and profitability,” said Katie Stein, chief strategy officer and global business leader for enterprise services and analytics, Genpact. “We believe that organizations that lead with smart, agile, and data-driven action plans will be the winners. Combining advanced analytics, AI, and automation with human judgment plays a vital role in helping enterprises drive meaningful transformation that builds resilient companies, a healthier environment, and stronger communities.”
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