The journey to becoming a more sustainable company requires reporting and a significant change in mindset and culture. Significant rewards await those with dynamic strategies.
If businesses of any scale and ambition want to succeed in today’s world, they must provide tangible evidence of a coherent sustainability strategy, proof that it is being implemented, and metrics to demonstrate progress. This is the core message in the new ESG: Where Are You On The Journey? report from Mazars, which aims to provide insights to help businesses advance their sustainability agendas.
Companies which haven’t embarked on the sustainability journey are likely to flounder in the wake of their more progressive competitors, according to Mazars consulting services partner Liam McKenna.
“Investors, bankers, customers, employees, and society at large are demanding this,” he says. “If you are in the supply chain of a multinational company, the chances are you will no longer get business without a sustainability strategy that includes both a clear understanding of your environmental footprint, including a net zero commitment, as well as your social impact. It is likely that you will be asked about the diversity of your team and the sustainability of your business. If you don’t have the right answers, the investor community may spurn you, customers may turn away, and you could face difficulties recruiting and retaining staff.”