CorpComms Magazine

Almost a third of companies say that sustainability is a key contributing factor to their profits and more than two thirds have put it permanently on their management agenda, according to a recent global study by MIT Sloan Management Review and The Boston Consulting Group.

The study found that two thirds of companies consider sustainability as an essential factor to being competitive in the marketplace, up from just 55 per cent in the previous year.  Two thirds of respondents said that management had paid more attention to sustainability measures over the past year, and had subsequently invested more in it.

The study found that those 31 per cent who believe that sustainability is contributing to their profits are not just implementing single initiatives such as lowering carbon emissions, but are changing their operational strategies.

David Kiron, executive editor at MIT SMR and a co author of the report, said: 'Although many companies are still struggling to define sustainability in a way that is relevant to their business, the attention and investment we see indicate the here-to-stay nature of sustainability for organisations everywhere.'    

Knut Haanaes, a BCG partner and co author of the report, said: 'Our research suggests a pattern: First a company focuses on reducing costs, boosting efficiency, and enhancing its corporate reputation. Then, after a while, it takes a broader view, becoming innovative with products and processes, and gaining access to new markets.'

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