In this Sustainability Impact Digital Summit Moment, excerpted from the digital event which was held on January 26, Puja Mahajan, CEO and Co-founder, Azzera, explains why having a sustainability strategy is becoming a top priority for customers, employees, and soon, publicly traded companies.
00:11 — A recent study from McKinsey & Company stated that up to 60% of respondents improved profitability from introducing a sustainability strategy. Sustainability strategies are derived from a data-driven process that considers all business processes and identifies opportunities for improvement.
00:34 — Mahajan notes that sustainability strategies are something that publicly traded companies will soon be required to report — more specifically, their net zero strategy and emissions. This is the starting point that will pressure non-publicly traded companies to do the same.
00:55 — From a stakeholder perspective, the expectation of a sustainability strategy will come from the board soon. Companies “can’t manage what they can’t measure,” so it is crucial that companies start to build upon a net zero strategy and take their emissions into account.
01:11 — From the employee perspective, workers that are millennials and Gen Z are making consumer choices based on whether or not a company is sustainable, including where they opt to work, notes Mahajan. “The workforce is changing, and employees expect their companies to be talking about sustainability and having a sustainability strategy, or at least having sustainable action in the workplace.”
To gain more insights on the hows and whys of sustainability’s impact on business processes and profits, view the Acceleration Economy Sustainability Impact Digital Summit, which is now available on-demand. Register for your free streaming pass here.