Sustainable Business Practices Reported
In a supplemental section, participants were queried on the growing trend of sustainable business practices within manufacturing.Sixty-three percent of the respondents reported that their companies have formally adopted sustainable business practices and another 7% indicted that there are plans to do so.
Companies have formally or informally adopted a wide range of sustainable practices. Energy management and use strategies are the most common practices, cited by 81% of the respondents, followed by corporate recycling, mentioned by 71%. Just over one-third (34%) indicated that their companies engage in carbon management or have set carbon emission goals.
Despite the fact that most companies have adopted sustainability business practices, just 25% produce a stand-alone sustainability report and another 4% include a summary of sustainability practices in their annual report. Sixty-two percent do not report on such activities.
MAPI’s composite business outlook index is a historically accurate near-term preview of business prospects for the manufacturing sector and is a leading indicator of the Federal Reserve’s industrial production index.
