Amidst COVID-19, geopolitical tensions, and climate disasters, sustainability gains momentum, compelling action from both businesses and governments. This report brings together insights from Euromonitor International’s Voice of the Industry: Sustainability survey, which tracks how businesses define, manage and communicate sustainability, in addition to insights from Euromonitor International’s newly launched Sustainability Product Claims Tracker, which shows how companies use product claims to
This report comes in PPT.
In the pursuit of sustainability, companies face defining challenges. To succeed, internal consensus is vital, using standardised metrics to address social and governance concerns effectively. This empowers positive environmental impact, ensures compliance with stricter laws, and strengthens resilience through proficient risk management.
Companies are understanding the threat of climate change on business practices, such as supply chains, particularly in the most vulnerable regions. Coupled with external pressure from regulators and stakeholders, embracing sustainability is invaluable to companies, such as the efficiency and financial benefits of embracing more circular initiatives.
Amid global inflation and geopolitical challenges, corporations are increasingly prioritising social commitments such as healthcare and gender equality. Yet, to achieve SDGs, aligning finance flows to support developing nations is crucial, fostering partnerships, innovation and infrastructure investment across regions.
Embracing accountability and ESG reporting
In a world demanding accountability and transparency, some companies are shying away from showcasing their sustainability efforts, fearing public backlash and greenwashing scrutiny. Embracing ESG reporting and leveraging on product claims and packaging is key, as it paves the way for standardised terms and metrics, ensuring genuine impact communication.
Investing in sustainability shows to have cost-cutting potential in the long run, and steps are continuing to be taken in order to direct investment into decarbonising the global economy. This, alongside pressure from stakeholders and new legislation encouraging transparency with consumers, shows that investing in sustainability now is more valuable than ever.
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