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Sustainability has become a mainstay in boardroom discussions. Sustainability now plays a fundamental role in how businesses are run today. The emphasis is on how a company's operations affect the environment and society, as well as how this influences its business model.
The attention of customers, suppliers, regulators, investors, and society has extended beyond the financial statements. They are seeking more information on how companies take responsibility for the ecological and social impact of their business models, and how they factor this into their long-term growth.
Sustainability can no longer be managed in a silo, nor can it be considered as only mitigating negative impacts on society and the planet. Instead, sustainability needs to become increasingly integrated into the core of organisations, reflected in purposes and missions, managed across operations, and critical to engaging investors and lawmakers alike.
Strategy: Organisations who understand the impact and urgency of ESG and cannot only act on it but make it an integral part of their corporate and business strategies have the potential to not only keep their license to operate but identify growth opportunities, enhance reputation, ease access to finance or be competitive in talent acquisition.
Transformation: To effectively execute on the ambitions and targets set, organisations need to change the way they operate - reflecting ESG in their organisation, in processes, incentive schemes, and daily operations as well as decision making.
While sustainability is not a new topic to the business community, the future lies in its integration into daily business operations. It can create value for businesses across four ends:
Questions business leaders need to consider when assessing their sustainability position:
PwC supports clients in building businesses that transcend generations and create sustainable value through: