Study: Sustainability a crucial goal for APAC firms but only 24% have a well-developed plan

The majority of businesses in APAC (70%) view sustainability as a necessary or important strategic goal and 52% agree that businesses should focus on preventing climate change. However, only 24% of APAC businesses agree that they have a well-developed plan in place to tackle climate change. Additionally, 41% said they are committed to moving towards net zero emissions, and 35% said they are taking action to offset their carbon impact, according to an annual global study titled “Fit for the Future” commissioned by Vodafone Business and conducted by B2B International. The business case for environmentally sustainable practices are no doubt driven by strong customer and investor demand in APAC. Investor demand is also a key driver, with 58% of large enterprises in APAC reporting that their investors are focusing on sustainable businesses. APAC businesses implementing sustainability practices into their business planning are realising significant business benefits from doing so. The study found 74% of businesses reporting higher profits this year, have a formal ESG programme in place. This is significantly higher compared to firms that reported lower profits, where less than half (47%) said they have such programmes in place. This is largely due to increased customer and investor interest.
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