Navex Survey Reveals Only 1/3 of Executives Believe Their Company is Performing "Very Effectively" on ESG Metrics
Only one out of three respondents to an #ESG-focused survey conducted by NAVEX have said their organisation’s performance against ESG metrics is “very effective." And the numbers are down from 2021 across all #environmental, #societal and #governance metrics.
The integrated risk and compliance management #software #business NAVEX released results of their survey within the last 24 hours. The 1,250 executives who participated were from US, UK, France and Germany.
Over 80% agreed “strongly” or “somewhat” that a business’ #brand reputation is impacted by ESG factors. And the good news is that across all markets there was indication that companies plan to increase spending on ESG dimensions this year, with all geographies reporting between 40% and 55% increase YoY in funding.
Why, then, the disconnect between performance, given the momentum growing in awareness of #sustainability, recognition of brand implications, coupled with increased spending to address them?
- Some say it’s possible that #leadership participating in such surveys are being more discerning in their assessments of their organisations than in the past. That’s possible.
- One thinks, more likely, it’s to do with “three steps forward…two steps back” which seems the case for so many organisations which find challenge with incorporating #sustainability transformation into legacy businesses.
- Process integration is a hurdle but arguably more so is the cultural / mindset shift which is required to drive #change.
American inventor Charles F. Kettering once said “The world hates change, yet it is the only thing that has brought progress.”
Those who are stuck in the past might want to think about that.
#betterbusiness #sustainabledevelopment #leadership
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