Partner Article

Sustainability is key to business success

In the wake of the recession, sustainable development in becoming increasingly important as a way of measuring and planning growth, according to PwC’s Annual Global CEO Survey.

The results of the poll showed that nearly half of all CEOs were prepared to change company strategy in order to factor environmental and corporate responsibility into purchasing decisions.

Many businesses have also begun to look closer at their supply chain to ensure good labour practices and environmental stewardship are adhered to.

This is particularly important as predictions show that scarcity of natural resources is more likely to derail economic growth than natural disasters.

PwC has identified five key areas of focus for good growth, which is will encourage businesses to focus on in order to improve their practices.

Jonathan Greenaway, director at PwC Newcastle said:

“Good growth – economically, socially and environmentally sustainable – is no longer just an idea for the forward thinkers – its about being in the business of sustainable development.”

While the plans leave companies with much to focus on, many of the business leaders surveyed were feeling optimistic that the changes would help to mitigate risk.

This was posted in Bdaily's Members' News section by Ruth Mitchell .