According to a survey by business i provider Ethical Corporation's 2,000 plus business executives has found that only half of them believe that sustainability is driving revenue. The report ‘State of Responsible Business 2016’ by the UK-based Ethical Corporation found 49 per cent corporate respondents either ‘don't know’ or ‘don't believe’ that sustainability is driving revenue for their business.
Apparel, FMCG and manufacturing firms are amongst the most likely to acknowledge the benefit of sustainability, and those from financial and professional services sectors were less likely to agree, the report says. The latest report, builds upon the inaugural report published last year, 52 per cent apparel, FMCG and manufacturing respondents said that they pay for external assistance with their sustainability strategy. Seventy one per cent of corporate/brand respondents said that their CEO is convinced of the value of sustainability.
Ethical Corporation's report found that there's been a 9 per cent increase globally in those feeling that sustainability is integrated tightly enough into broader business strategies.