Home Personal Finance UK firms are struggling to see the purpose in investing in sustainability

UK firms are struggling to see the purpose in investing in sustainability

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UK firms are struggling to see the purpose in investing in sustainability

Enterprise leaders know they should do extra to make their companies greener and extra sustainable. They’re additionally below growing stress from buyers, clients and governments to enhance environmental, social and company governance (ESG).

Nevertheless, many are struggling to spend money on these initiatives as a result of they consider they’ve extra urgent considerations, in line with a brand new report from Ricoh Europe. When polling 251 determination makers within the UK and Eire for the report, Ricoh discovered that solely 27 p.c of firms elevated their investments in sustainability over the course of the pandemic.

On the similar time, the bulk (73 p.c) are growing or holding their investments in digital transformation. Sarcastically, in line with Ricoh, digital transformation can assist firms enhance their ESG efficiency and collect the info wanted to measure it successfully.

Nevertheless, solely two in 5 (39 p.c) see know-how as an enabler for sustainable enterprise practices, whereas most respondents (72 p.c) don’t consider that digital transformation can assist them obtain sustainability objectives. Solely 1 / 4 (28 p.c) even consider that bettering IT infrastructure can assist cut back an organization’s long-term influence on the atmosphere.

On the similar time, most have deployed cloud applied sciences, hybrid working or large knowledge options, all of which can assist cut back the carbon footprint in a technique or one other.

“Digital transformation is an space through which executives ought to make investments with confidence as there’s quite a lot of overlap with enterprise and ESG outcomes,” stated David Mills, CEO of Ricoh Europe.

“Not solely does it assist enhance operational effectivity and environmental outcomes, nevertheless it additionally future-proofs the enterprise. In the end, it will increase the capability to gather and analyze knowledge, which will likely be of important significance when new reporting necessities come into impact. ”