New Study Identifies Leadership and Culture as Catalysts for Successful Corporate Sustainability
Research from the Bennett Institute for Public Policy, University of Cambridge, and JMJ explores cultural and behavioral barriers to sustainability
Most business leaders recognize the growing importance of environmental, social and governance (ESG) considerations, yet few fully understand the strategic implications or the impact on day-to-day activities. Why should they care when there is no settled regulation on ESG standards or reporting? What are the right indicators to select to monitor ESG performance? Who in the organization, and at what level, is responsible for delivery? How do sustainability practices affect the bottom line, and over what time frame?
A comprehensive new study from the Bennett Institute for Public Policy, University of Cambridge, and global culture transformation consulting firm, JMJ, set out to answer these questions by asking global businesses to share attitudes, barriers, and enablers of successful corporate sustainability strategies from a leadership and culture standpoint. The findings highlight recurring issues and concerns across businesses as well as areas of difference.
“There is no doubt leaders in business will need to embed sustainability in their corporate strategies,” said Professor Diane Coyle of the Bennett Institute. “Many will already have realized the importance of sustainability metrics. They need to go beyond that discussion to think about how their strategy, culture, and day-to-day activities will have to change – and about the role of leadership in delivering that.”
The study coincides with the launch of JMJ’s sustainability practice alongside the safety and performance transformation solutions it is well-known for. The company has also enriched its industry-leading approach to culture transformation with intelligent data and analytics from the JMJ Transformation Cloud, its digital assessment, learning and coaching platform.
“The Bennett Institute’s research underscores the link JMJ has identified between an organization’s culture and the success of its sustainability strategy,” said Jeff Williams, CEO at JMJ. “Those that treat ESG as a box-ticking exercise will fail to take advantage of the strategic opportunity presented by enabling sustainability across all activities. If an organization is going to embrace sustainability as a practice, leadership must take the lead in aligning mindsets, structures, skills, and culture.”
Source: Bennett Institute