Most large and medium-sized companies (62%) worldwide have an active sustainability program in place, and another 11% are developing one, according to a sustainability survey commissioned by consulting firm KPMG.
At the recent UN Climate Change Conference in Cancun, Mexico, KPMG revealed that survey respondents have moved toward sustainability largely due to pressure from regulators as well as a concern over maintaining the integrity of their brands and reputations. Two-thirds (67%) also believe that a successor to the Kyoto Protocol is very important or critical.
"Companies believe that more regulation on carbon will come, and they want it sooner rather than later so they can adapt and comply," says Ted Senko, KPMG's global head of climate change and sustainability. "The clear message [from the conference] is: Give us a solid regulatory framework for sustainable business growth, and we will deliver it."
Some of the significant findings from the report include:
62 percent of companies polled have a strategy for corporate sustainability
61 percent of senior executives say the benefits of sus-tainability outweigh the costs
46 percent believe a global climate accord will add to their regulatory burden
45 percent say business survival and short-term financial pressures are higher priorities than sustainability
39 percent believe sustainability is a source for new business opportunities
38 percent of companies say they have no plans to report on their sustainability performance
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