Just 13% of company executives in the US say that sustainability is ‘deeply embedded’ into their firm’s cultural DNA, with the majority in the ‘early to middle’ stages of developing a sustainability culture, a study has found.
The study, Building a Sustainability Culture, was developed by The Conference Board in collaboration with Baker Tilly, and incorporated input from executives at firms in various sectors.
Close to half (49%) of respondents said that sustainability is ‘moderately embedded’ into their firms, while more than a third (37%) noted that it was ‘slightly embedded’.
CEO should lead the way
In terms of who should be leading the sustainability culture within a business, 30% of respondents said that the CEO should be at the forefront of the cultural transformation within firms, with 28% citing those responsible for the company’s business strategy and operations.
Elsewhere, the study found that employees need to feel a sense of ownership when it comes to building a sustainability culture, which was cited by 75% of respondents.
‘Embedding sustainability’
“The findings of our report underscore the need for embedding sustainability into business as usual, in addition to highlighting the distance still left to travel on the journey to a sustainable economy,” commented Srinand Yalamanchili, Baker Tilly director−ESG and sustainability.
“Embedding sustainability into culture and business strategy can only be achieved by prioritising the ‘why’–the positive return on investment and risks of inaction–and taking ownership at both an organisational and individual level.”
More than 250 executives from 160 companies participated in the study, which explored five areas: 1) Defining a sustainability culture; 2) Exploring its significance; 3) Strategies for building a sustainability culture within companies; 4) Identifying responsible parties; and 5) Establishing metrics for measuring success.
