Companies call for ‘radical revision’ of sustainability agenda

Poll of hundreds of corporate sustainability leaders reveals less than a tenth believe status quo is working. 

More than 90% of corporate sustainability leaders believe the current approach to sustainability is failing, with close to half (45%) calling for a “radical revision”. 

A further 48% of the 800+ sustainability experts surveyed by consultants ERM, Volans and Globe Scan believe a “modest” revision is needed. 

Companies made up the lion’s share of respondents to the poll, at 38%, although there was also strong participation from the public sector and civil society.  

The survey revealed a substantial jump in those experiencing significant pushback against sustainability in their region, from 57% last year to 70% this year.   

This was most acute (90%) in North America.   

When asked what levers were available to firms trying to progress on sustainability objectives over the next five years, experts pointed to technological innovation and research and development as the most viable and useful options.  

The approaches with the lowest combined feasibility and potential for impact included B-Corp certification and carbon capture and storage (CCS).  

Just 16% of respondents regarded voluntary sustainability reporting as offering “significant positive impact”. This rose to 50% for mandatory disclosures, which was also regarded as more feasible. 

Feasibility was based on how likely a lever was to be implemented at scale in the next five years.  

Artificial Intelligence and research and development were was regarded as the most feasible levers, both scoring more than 50%, while internal carbon pricing, CCS and mandatory due diligence were the least feasible in the eyes of respondents.  

When it came to government policy levers, carbon pricing was deemed high impact and highly feasible. 

Anti-greenwashing legislation, on the other hand, was also found to be high in terms of feasibility but low on impact.