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Truly sustainable businesses gain a competitive advantage

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on SAP  or enjoy below:

🗞️ Driving the news: SAP Insights' Wave 3 sustainability study, conducted ahead of COP28 in Dubai, reveals significant insights for businesses emphasizing environmental sustainability
• The research, encompassing responses from 4,750 companies across 21 nations and 29 industries, underscores the growing integration of sustainability into business strategies for competitive advantage

🔭 The context: This latest study builds on prior research, showing a shift from sustainability as regulatory compliance to a strategic business element  
• Key findings include a more pronounced connection between sustainability and competitiveness, with 72% of respondents acknowledging its role in competitive differentiation

🌍 Why it matters for the planet: The study illustrates how sustainable practices lead to business growth, profitability, and efficiency
• This trend towards environmental sustainability not only aids business resilience but also plays a crucial role in addressing climate change and environmental conservation

⏭️ What's next: The findings suggest a future business landscape where sustainability is interwoven with strategy and operations
• Improved data quality and heightened leadership accountability are expected to drive more strategic decision-making and investments in sustainability

💬 One quote: Sarah Dziuk, Head of Research at SAP Insights, stated, "We see in the research how many companies are shifting to view sustainability no longer as a regulatory compliance tactic, but becoming more of a strategy to actually build business value"

📈 One stat: A notable 72% of surveyed companies now view sustainability as a key contributor to their competitive edge, reflecting a significant shift in business approaches towards environmental efforts

Click for more news covering the latest on Sustainable Business

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