Sustainability, top priority for CEOs

By SiliconIndia   |   Monday, 28 June 2010, 10:20 Hrs   |    3 Comments
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Sustainability, top priority for CEOs
Bangalore: Despite the global downturn and a flurry of global challenges, corporate commitment to environmental, social, and governance issues remains strong and sustainability has become a top priority for the CEOs globally.

CEOs identified the consumer as being as important a stakeholder as their business and government customers on this issue, driving companies to take action in response to new attitudes and needs, according to a study.

According to a study launched by UN Global Compact and Accenture Sustainability Services, 93 percent of the CEOs observes sustainability as critical to their company's success. This shows a fundamental shift in mind sets since this survey was last conducted in 2007. Then, sustainability was starting to reshape the rules of global business.

Nearly 91 percent of CEOs opined that they will use new technologies to address sustainability over the next five years. Social media in particular were highlighted as both an opportunity for increased consumer engagement but also a challenge in terms of greater transparency. As an increasingly important element in furthering goals of social development, CEOs gave importance to partnerships and collaboration, for instance, with NGOs. 72 percent of CEOs highlighted "brand, trust, and reputation" as key motivations for taking action on sustainability. The study has found that companies are taking the long view on sustainability.

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