3 Sustainability Trends to Improve Business Strategies
As companies seek ways to complement their business strategies with sustainability in 2015, PricewaterhouseCoopers has narrowed down three key trends that will be top of mind for executives in the coming year.
- The potential of value chain improvements to help businesses increase resilience, reduce costs and attract consumers is driving action. Increased collaboration across value chains is leading the way for more sustainable outcomes and better business results. More than two-thirds of supply chain executives say sustainability will play an important role in managing supply chains through 2015 due to the potential to improve resilience, reduce costs and support growth.
- Climate change will remain on the agenda in the US and around the world. Companies may see a rise in local, federal and global action to address the challenges posed by climate change. On a global level, companies may also see greater business engagement leading up to the UN Framework Convention on Climate Change, which is seen as an opportunity to achieve a global agreement on climate. UN member states are also working with the business community to advance a series of sustainable development goals to grow economic, social and environmental advancement.
- More companies embracing new reporting methods. PwC data published last September found that nearly two-thirds of investment professionals say that the quality of a company’s reporting could have a direct impact on its cost of capital. According to PwC’s Investor Resource Institute, the same percentage of institutional investors are dissatisfied with corporate disclosure by US companies on matters relevant to climate change, resource scarcity, corporate responsibility and citizenship. These trends are driving some companies to consider new standards and frameworks for reporting, such as the Sustainability Accounting Standards Board and the International Integrated Reporting Framework.
Image Credit: sustainability trends via Shutterstock
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