Businesses need to do more to address the combined force of global megatrends according to a new Institute of Environmental Management & Assessment (IEMA) sustainability report, “Beyond the Perfect Storm: The Corporate Sustainability Challenge”.
Only 7% of professionals surveyed as part of the research for the report said that “sustaining the business model” is their organisation’s primary motivation for engaging in sustainability. The report shows that the three main reasons for organisations engaging in sustainability are to improve reputation, address client expectations and transform their business, but many face challenges such as finance, lack of management support and clear strategic or operational alignment. In fact, 75% of professionals indicate that sustainable procurement is proving to be a significant ongoing challenge.