Sustainability for 60% Indian businesses is driven by regulatory threat
Today, sustainability has become a core topic of discussion in boardrooms of businesses transcending industry lines and the general consensus is that sustainability and profitability can co-exist.
A recent study by Oxford Economics and SAP, has revealed that Indian businesses today recognise the potential of sustainability to unlock business value, with 62% of companies noting that it is not difficult to be sustainable and profitable at the same time.
The study has also revealed that although the significance of sustainability is well understood, much work remains to be done to ensure sustainability ambition translates into action.
Regulatory compliance is both a key driver and a challengeBut, the major driver for sustainability initiatives remains to be regulation.
The study cited this as the third highest challenge to sustainability success by Indian respondents.
Data is the major gap to going greenEven as access to accurate and insightful data throughout the business value chain is critical to maximising sustainability outcomes, only about just 44% of respondents said they have invested in data analysis to measure sustainability in their business.
Only 22% of businesses have incentivised leaders based on sustainability strategy success and only half say their employees are active participants in their sustainability efforts.
SAP has a portfolio of sustainability solutions to help businesses embed operational, experiential, and financial data and insights to drive sustainability at scale.