Issue 634 (Week ending 19/06/2024)

Within the EU, ESG goals and Sustainable Development Goals have been on the minds of those in business for many years now. And with CSRD compliance coming hot down the tracks, it's no wonder business people like you and your peers are searching for the easiest, least disruptive ways to be sustainable, and remain compliant.

But, what if there was solid, concrete evidence that sustainability was good for your business, with minimal disruptions? You may look at sustainability as a compliance matter, but below, we have laid out all of the ways that it can actually benefit business, operations, reputation, and the environment.

From an Investors View:

The central role of sustainability in capital markets is linked to the analysis of three key metrics: environmental, social, and governance (ESG). The weight of sustainability in the financial sector has led to the rise of ESG reporting and analytics.

Recent news across Ireland has shown that investors will revise investments if companies do not at least consider ESG criteria within their business model.

From a Consumers View:

The demand for sustainable products has been increasing for a long time, and has spiked in recent years, as customers become more aware of the implications on climate change, environmental damage, and human health.

The willingness to pay more in order to buy a product that is 'sustainable' and the willingness to change habits in order to tackle global emissions and resource use is now driving buying decisions. A study made by ICCR Institute reports that revenues from sustainable products are growing at about six times the rate of other products.

This trend is significantly driven by young generations who more than others understand the impact that climate change is going to have on their lives and are willing to pay the green premium for environmentally friendly products.

Industry peers

The momentum behind the sustainability imperative is driven by a growing recognition within the global business community that a company's purpose transcends mere profit, and that its success is intertwined with the well-being of other firms, organizations, and individuals in the wider ecosystems in which it operates.

What's more, is that within your organisation, sustainability driving decisions has shown to help improve the aforementioned brand reputation, talent attraction and retention, and increasing reusability for better financial performance.

So, get green and find the tools that you need to map out your sustainability strategy that works for your business.