According to a new report released by Accenture, 78% of senior executives say that sustainability is vital to the future growth of their businesses.
The consulting firm surveyed 250 senior executives in the United States, Japan, Germany, France and the United Kingdom, as well as China, Brazil and India, about sustainable business and commercial growth.
Respondents also acknowledged that customer demand is the primary driver of investment in sustainable initiatives and that their businesses charge a premium for sustainable products and services.
Based on its findings, Accenture makes three recommendations to help companies keep up with market demand for sustainable products and services:
- Companies should invest in capabilities such as analytics to improve their understanding and anticipation of fast-changing consumer expectations.
- They should also build social media-based platforms to engage with consumers and to develop and test innovations with them.
- They should review operational and supply chain capabilities to identify opportunities for optimal production and delivery of sustainable goods and services.
The full report, entitled Long-Term Growth, Short-Term Differentiation and Profits from Sustainable Products and Services: A Global Survey of Business Executives is available online here.