Sustainable change in business hampered by desire for quick gains - Expert poll
BY EDMUND SMITH-ASANTE
A survey conducted in December 2011
by GlobeScan and SustainAbility of attitudes
across businesses, NGOs, academia and government, has revealed the clamour for short
term financial gain as a major obstacle to sustainable change in business.
Otherwise referred to as financial
short-termism, 88% of the 642 experts polled said they see pressure for
short-term financial results as a barrier to businesses becoming more
sustainable.
The latest wave of The Sustainability Survey, a regular survey conducted by GlobeScan,
an international opinion research consultancy with a network across over 50
countries and SustainAbility, a think tank and strategy consultancy working to
inspire transformative business leadership on the sustainability agenda, asked
experts to say whether they considered a range of factors as being barriers to
increased sustainability by businesses.
Although most of those polled identified
multiple barriers, financial short-termism was seen as the most significant by
some distance.
The next most significant barriers were
inappropriate regulations and low awareness of the business imperative, both
cited by 65% of respondents. On the
other hand, low consumer demand was identified by 57% of respondents, followed
by the lack of effective management tools (45%) and the lack of international
standards (50%).
While financial short-termism was
consistently identified as a barrier by large majorities of all groups, the
survey revealed that experts’ views differed on the importance of other factors
according to their sector.
For instance, 56% experts working in
academia identified the lack of international standards as a barrier, while 43%
of those working in corporations saw it as such. Experts within academia were
also more likely to blame low awareness of the business imperative for
sustainability among business leaders (71%) than their corporate counterparts
were (58%).
In contrast, experts within corporations
were more likely to identify lack of consumer demand for green business
practices, products and services as a barrier to sustainable transformation
(66%) than other groups of experts, particularly those within NGOs (46%).
According to a press release from the UN
Environment Programme (UNEP), these latest survey findings will be featured in
a forthcoming UNEP report on the business case for the Green Economy, to be
published later this year.
Commenting on the findings, Achim Steiner, UN
Under-Secretary General and UN Environment Programme (UNEP) Executive Director,
said: "The Green Economy analysis by UNEP and partners clearly
outlines pathways towards growing the global economy, generating employment
and combating poverty, while keeping humanity's footprint within
ecological boundaries.”
"This survey underlines that governments must
play their part, national and internationally, in setting the
standards and backing the smart policies needed to promote
sustainability over extraction and degradation of the world's natural resource
base. It is happening, but not fast enough. Rio+20 in June offers an
opportunity for governments to accelerate and to scale-up a better future
for seven billion people," he added.
For his part, GlobeScan President, Chris
Coulter, said: "Clearly, more work needs to be done to help business find
ways to overcome financial short-termism as a barrier to corporate
sustainability. It may be timely for a multi-stakeholder initiative to explore
new thinking to tackle this major obstacle to facilitate the transition to
sustainability."
Adding his voice, Jeff Erikson, Senior
Vice-President at SustainAbility commented: “The experts in our poll are
telling us that of the many factors that make a transition to sustainability
difficult, impatience from shareholders is the most important. This implies that understanding and
communicating the business case is critical.
We are excited to be working with UNEP once again on their upcoming
report, which will provide further support to the business community to make
the case.”
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