A report by the leadership advisory and search firm Russell Reynolds Associates, called Divides and Dividends: Leadership Actions for a More Sustainable Future, has revealed some interesting facts and insights on Corporate India’s approach towards strategic implementation of sustainability in comparison with the rest of the world. Globally, around 43 per cent of organisations have conveyed and implemented sustainability into their everyday functioning. The report highlights that corporate India on the other hand is way ahead in its approach towards sustainability. 57 per cent of organisations in India have a sustainability strategy that has been acted upon and communicated. With sustainability expected to drive most business organisations in the next decade, India’s appears to be thinking ahead already.
The report that is based on responses of more than 9,500 respondents - C-Suite executives, next-generation leaders and employees - including 1,392 in India further revealed that leaders in India under the importance of sustainability in their approach and are open to exploring newer opportunities to implement the same.
Some of the key highlights of the reports are:
More than 45 per cent of C-suite leaders in India believe that their sustainability approach is mainly driven by brand management concerns, and they want to be seen as socially responsible and reputable or to use sustainability for competitive differentiation.
Around 29 per cent of C-suite leaders in India mentioned that their efforts for driving sustainability are motivated by value creation and the creation of much-needed opportunities and access for disadvantaged or underserved groups.
70 per cent of India’s next-generation leaders have taken more than three responsibilities in the last two years to improve environmental and social outcomes and stay well ahead of the global average (40 per cent) and their APAC neighbours (49 per cent).
“Our research shows that while business leaders in India are firmly committed to sustainability action, many are running into myriad challenges on their sustainability journeys, from bureaucracy and a lack of organisational investment to short-term pressures from investors. It's also comforting to note that next-gen leaders in India seem to be getting a lot more exposure to strategic sustainability initiatives vis-a-vis the global average, which sets up Indian businesses well for the future,” said Vijuraj Eranazhath, consultant, Russell Reynolds Associates.