India leads in embedding sustainability across corporate plans: Report

As per a report by Russel Reynolds Associates, around 57% of corporations in India have implemented a strategy that is aimed at ensuring sustainability across their business strategies. The report has also analyzed if such a strategy is being communicated and acted upon given the fact that most of the businesses' success in the next decade will be based on their sustainability efforts.

Over 43% of companies across the globe have set sustainability strategies that have been communicated and acted upon. In this context, experts believe that India’s record could be a source of pride since sustainability is not an add-on to strategy but a fundamental stand for any corporate plan.

The latest study is based on responses from over 9,500 participants which include next-generation leaders, C-suite executives, and employees. It was found that around 61% of employees that were studied believe their CEO is committed to organizational progress and sustainability throughout their business strategies as compared to 51% found globally.

Indian leaders are found to understand the potential of sustainability to unlock more value on profit, people, and the planet. Around 45% of C-suite leaders in the country acknowledged that their sustainability strategy is driven by concerns of brand management, with the report claiming that these leaders intend to establish a socially responsible entity to stand apart from the competition.

Approximately 29% of C-suite leaders in India have claimed that their sustainability push is primarily driven by value creation or by looking for additional opportunities. India is the third most likely of all markets analyzed to create value creation as a primary stimulant for a company’s sustainability push, just behind Brazil and Mexico.

Meanwhile, the report also found that the major bottleneck to deploying sustainability across business plans is an inadequate organizational investment. Over half of Indian C-suite leaders believe that the lack of an organizational investment followed by short-term pressures from investors is a major challenge when deploying sustainable practices in any corporate strategy.

Source Credits –

https://www.business-standard.com/article/companies/corporate-india-ahead-in-embedding-sustainability-across-strategies-report-122020701121_1.html