Voice of the Industry: Sustainability Survey

August 2023

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

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This report comes in PPT.

Key Findings

Sustainability vertical integration breaks internal barriers

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 can benefit from leading the fight against climate change

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.

Commitment around social aspects gets stronger

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.

Investment in sustainability can unlock long-term cost- cutting potential

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.


Key findings
Sustainability strategies are still implemented but less communicated
Global consensus around environment and standardised initiatives to define sustainability
Intensified focus on social and governance aspects
Ben & Jerry’s co-creates new ice cream flavour with refugee entrepreneurs
Sustainability keeps relevant for risk management
Companies are increasingly leveraging external validation for compliance
Key internal levers need to be managed for sustainability strategies to unlock opportunities
Walmart’s clean beauty addresses affordability and transparency in the US
Climate impact hotspots dictate corporate climate action imperative
Global pressure towards net-zero is changing the impact of climate change on businesses
Mud Jeans: Frontrunners in “circular denim”
Cost-of-living crisis is impacting climate-related actions
Corporates proactively embracing development of net-zero strategies increase
Governments now the leaders on pressure for climate action
Arc’teryx focuses on design durability and circularity
Fostering sustainable progress in emerging economies through SDGs
UNDP's GSIV programme : Creating an impactful and investment-ready SDG pipeline
Igniting the power of social and collaborative goals for lasting impact
Corporate sustainability communication conundrum persists
Reporting non-financial performance will be imperative
Lemonaid and ChariTea : Sustainable soft drinks with a Foundation
Sustainable communication in an era of accountability
Arla Foods driving environmental sustainability in the dairy industry
A shift towards claims that embrace full product life cycle compliance
Companies are increasingly encouraged to invest in sustainability
Climate Bonds Initiative ’ s active role on global decarbonisation
Legislation and cost cutting have become key reasons for investing in sustainability
Companies struggle to find a case for sustainability
a good company: transparent over the environmental footprint of products
Key takeaways
About Euromonitor International’s Voice of the Industry survey series
Respondent job profile
Respondent geographical profile


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