” Firms that align their business models to the transition will be rewarded handsomely. Those that fail to adapt will cease to exist.”
– Mark Carney, former Governor of the Bank of England
The trend towards sustainability is only accelerating for businesses around the world.
As previous Navigator reports note, environmental sustainability now permeates all aspects of business strategy. The current crisis has not caused firms to backtrack or change focus. This underlines how environmental sustainability is increasingly synonymous with business sustainability. Those who claimed to be well prepared for recent uncertainty place greater emphasis on sustainability. They also understand sustainability to be more wide-ranging than those who were less prepared.
There is a near unanimous commitment among business decision makers to build back better; more than 9 out of 10 agree that the need to reassess or review their operations would allow them to rebuild their businesses on firmer environmental foundations. This underlines how sustainability is a key component of future business strategy.
This emphasis on sustainability is consistent or strengthening for 2 in 3 businesses (65%). It is a higher priority for international than domestic companies, and firms based in mainland China and Hong Kong.
- Anticipated sources of pressure to become more sustainable in the next 1-2 years
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