The Recycler
  • Ambiente 2025 Masthead
  • G&G Masthead August 2024
  • Biuromax Masthead web banner March 2024
  • Katun web banner December 2022 NEW

Sustainability high on business agenda

December 2, 2019

New HSBC survey shows that 96% of businesses feel pressure to become more sustainable, but still struggle to implement it.

Sustainability is now firmly on the agenda for management teams of businesses of all sizes, yet only a minority have a clear understanding of how they are performing or how Environmental, Social and Governance (ESG) metrics might apply to them.

These are among the findings of a new HSBC survey, ‘Navigator: Now, next and how,’ that explores the views of over 9,100 companies in 35 countries and territories. It shows that almost all businesses (96%) are feeling pressure to become more environmentally and ethically sustainable, but many are struggling with barriers such as their ability to finance change (35%) and to free up resources to implement that change (31%). 

Over a quarter (27%) of businesses surveyed say they are frustrated by a lack of consistent ESG measurement criteria, meaning they aren’t sure what to focus on. Moreover, there’s a consistent gap of up to 10 percentage points between ESG indicators companies do identify as relevant and those they actually measure.

Barry O’Byrne, CEO of HSBC Global Commercial Banking, said: “People want to know the values of the businesses they buy from and market pressures mean every business must demonstrate it has a positive effect on the communities in which it operates. But translating sustainability ambitions into measurable practices isn’t easy. You don’t have to look far to find ESG guidance from organisations ranging from the UN to stock exchanges. Identifying which guidance might apply to your business is a challenge for management teams and our Navigator findings show that progress towards common reporting frameworks would clearly be welcomed.”

While 26% of businesses want to become more sustainable to improve their efficiency, and 23% think it will help boost sales, 15% are measuring their energy use and 8% their carbon emissions. In terms of social and governance metrics, 13% say they measure the fair treatment of employees and 14% track the effectiveness of their anti-bribery and corruption controls.

Pressure to do more on sustainability is coming from multiple sources including competitors, investors and employees, according to the survey. Businesses in Indonesia (47%), the UAE (46%), Australia (43%), Turkey (43%), South Africa (41%) and Singapore (40%) say they feel the most pressure from their governments, while peers in Argentina (49%), Russia (46%), Brazil (45%), Poland (45%), South Korea (44%) and Thailand (41%) say it is their customers that are leading the call for change.

Over the next five years, a third of businesses expect to invest more in technology, innovation and infrastructure to improve sustainable production. The focus for 31% will be to promote employee health, well-being and safety, while for 29% it is to reduce waste generation and improve energy efficiency.

Categories : Around the Industry

Tags : ESG HSBC Survey Sustainability

  • TN Core Nov Web advert
  • IR Italiana Web ad January 2021
  • G&G web advert October 2024
  • Cartridge Web Nov Web Banner
  • Biuromax web banner July 2024
  • Apex September 2024 Web ad
  • GM Technology October 2024
  • Static Control June 2022 Big & Bold Ad
  • Ink Tank No Web advert
  • Mito Web banner June 2024
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024
  • Zhono Web ad March 2024
  • CET Web ad December 2023
  • Denner Feb 2024 Web Ad
  • PCL Nov Web advert
  • ITP Web ad January 2021
  • Mito Web banner June 2024
  • HYB Web banner Jan 2024
  • CET Web ad December 2023
  • denner UK Web Banner Jul 2024
  • ITP Web ad January 2021
  • Zhono Web ad March 2024
  • PCL Nov Web advert
  • Denner Feb 2024 Web Ad
  • Mito Web banner June 2024
  • Zhono Web ad March 2024
  • Denner Feb 2024 Web Ad
  • ITP Web ad January 2021
  • CET Web ad December 2023
  • PCL Nov Web advert
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark