While sustainability may seem just like a buzz word, its influence is among executives and investors are growing tremendously. According to We Forum, 90% of executives believe sustainability is important, but only 60% of organizations have sustainability strategies.
If your organisation is looking at efforts to strengthen your sustainability journey but not sure about how it will benefit? Here are factors why sustainability practices that correlate with environmental, social and governance (ESG) factors will benefit your organisation by saving money and future-proofing your organisation in the long run:
1. Meeting Your Investor and Consumer Demands
Now, there is a higher pressure for finance leaders to implement ESG factors within their organisation. According to research by Gartner, 85% of investors considered ESG factors in their investments in 2020, while 91% of banks monitor ESG performance of investments.
As for consumers, Gen Z is emerging as the largest and most influential consumer segment, has shown a strong preference to support and spend on sustainable brands. With a 62% of Gen Z shoppers prefer to buy from sustainable brands and a staggering 73% are willing to pay more for sustainable products.
In light of the evolving customer demand, businesses will be pressured to implement sustainability practices to strengthen competitive advantage to retain and attract more business, as well as talent.
2. Talent Attraction & Productivity
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Companies who have made great progress towards ESG will have a higher chance in attracting talent and talent retention, as employee motivation can be enhanced by instilling a sense of purpose and increase overall productivity. As ESG will focus on improving the social impact of the employees by instilling a sense of purpose, correlating with a higher job satisfaction and enthusiasm when companies “give back.”
3. Save Your OPEX in the Long Run
The cost of electricity has gone up over the years and it will continue to rise. These rising costs can create shortfalls that affect or influence the progress of other projects and programmes. By implementing sustainable resources like renewable energy, you’ll be able to save up to 90% off your monthly electricity bill for your office building or industrial building.
All in all, if your business has yet to start its sustainability journey, being mindful of the ESG propositions will enhance long-term value. However, as we understand the challenges of navigating sustainability for your organisation, you can go green with Sunview’s 360° sustainability solutions from energy assessment to customised solar financing options, where your business is primed to drive real change gaining environmental and financial benefits.
To ensure your business makes profit from its sustainability journey, Sunview’s solar power solutions such as SunValue, a solar financing solution with zero upfront cost, and SunVertax, designed for businesses seeking maximum energy independence and to minimise corporate taxes.
Start your sustainability journey with renewable energy, when you connect with our experts today!
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