Sustainability Leaders are both differentiating on ESG issues and co-operating to solve industry sustainability challenges, says BCG.
Financial Review 2022 Sustainability Leaders list is compiled in association with consulting firm BCG. Rebecca Russell of BCG explains how Sustainability Leaders make a difference:
Regulators are focusing on ESG disclosures and greenwashing and customers and employees are increasingly motivated by sustainability. 43 per cent of Australian consumers say they take sustainability-motivated action, and most Millennials won’t work for a business that isn’t doing enough on climate.These trends align with the growing global consensus that significant action is required now to transition to a sustainable world.
The number of ASX200 companies with net zero targets trebled in 2021. Corporate partnerships, often between competitors, are at the forefront of solving some of the most difficult sustainability challenges, with global examples like the First Movers Coalition and local ones like REDcycle. Sustainability is also providing list leaders with exciting growth opportunities. Challenges faced by hard-to-abate sectors such as agriculture are providing opportunities to commercialise Australian research, with global potential, as we see from FutureFeed and v2food. FairSupply and GreenToken are improving the transparency of supply chains, while companies such as Arup and GreenCollar are creating new markets for sustainable products and services.
Invest in understanding your ESG impacts — up and down the value chain, within relevant business ecosystems and further into the future — and the associated the strategic risks and opportunities.
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