Benefits for a Green Company
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Benefits for a Green Company
- According to Gallup's 2019 Environment Survey, conducted March 1-10 in the U.S., 65% i.e, 2/3rd of Americans now prioritize environmental harmony and protection over economic growth. Eight in 10 Democrats (80%) and 71% of independents believe that economic prosperity cannot come at the cost of environmental degradation. This is the widest pro-environment margin since 2000 in America.
- A recent study by Bain & Co shows 70% of under-35s polled were willing to pay more for sustainable products, while 65% wanted to preserve the environment and 55% worried about climate change ( FT Weekend,September 22/23, 2018)
- For new customers, "health and sustainability are also very important, as well as issues of the environment and waste", Mr Gildo Zegna, CEO Ermenegildo Zegna, quoted in FT Weekend, September 22/23, 2018)
- A study "The Value of Green: The Effect of Environmental Rankings on Market Cap" by N Blumenshine of Middlebury College concluded that "companies with high environmental rankings have higher market cap values than comparable companies with lower rankings".
- The 2011 Carbon Disclosure Project report, prepared for 551 signatory institutional investors representing $71 trillion of assets, shows that the majority of US companies are taking climate change action, despite an absence of mandatory rules
- Nielsen, the market research firm, found that 68% of consumers in Australia are willing to pay more for products from companies who support worthy causes concerned with the environment
- According to an Ipsos Mori survey, 80% (81% in the USA) of respondents across 15 developed nations would prefer working for a company that has a good reputation for environmental responsibility".
- A poll on green employment by MonsterTRAK.com, a job website, found that 92% would be more inclined to work for a company that is environmentally friendly.
- Cassandra Walsh, an HR coordinator at an IT company, and Adam Sulkowski, an assistant professor, analyzed 113 companies from the S&P 250 and concluded that "Employees are more likely to be satisfied with their jobs if they work for a company that's perceived to be environmentally friendly". A firm's financial performance had no correlation with employee happiness levels, the researchers found.
- HSBC, which employs more than 300,000 staff worldwide, has been running a climate champion program since 2007. When HSBC staff were asked how they felt about working at the bank,.... the highest scoring item was the company's sustainability work. (Financial Times, March 21, 2011)
- "Although it is hard to measure, such (green) moves appear, at least anecdotally, to have a positive effect on staff morale, and on recruitment and retention." (Joseph Milton, Financial Times, March 21,2011)
- Mr Arnott at Accenture says losing a staff member costs between 0.8 and 1.8 times the employee's salary, so improving retention saves money. (Financial Times, March 21, 2011)
- 72% of CEOs cite brand, trust and reputation as one of the top three factors driving them to take action on sustainability issues.(UN Global Compact-Accenture study)
- The Annual Sustainability Executive Survey, 2012, a poll of close to 50 companies 80 percent of which have revenues of $1 billion or more, found that 88 percent plan to invest significantly in employee engagement through sustainability initiatives.
- 73 percent of consumers consider it important or very important that companies have a good environmental track record...survey participants everywhere believe that being green entails activities that have a direct and positive impact on the environment.(BCG's Global Green Consumer Survey of 9,000 adults in 9 countries)
- An IBM survey found that two-thirds of executives see sustainability as a revenue driver, and half of them expect green initiatives to confer a competitive advantage (Harvard Business Review, "Growing Green" by Gregory Unruh and Richard Ettenson)
- Gallup's surveys suggest Indians are more worried about their environment than are people in rich countries (The Economist, Dec 17-30, 2011)
- People are more devoted to purpose-led brands that make a positive contribution to society. (Harvard Business Review, Jan-Feb 2021 - Mediating Factors: How Sustainability Improves Performance- Customer Loyalty - authors Tensie Whelan and Elyse Douglas)
- In a Society for Human Resource Management survey conducted with the consultancies Aurosoorya and Business for Social Responsibility, 55% of respondents said that strong sustainability programs improve morale, and 38% said they increase loyalty. ( Harvard Business Review, Jan-Feb 2021 - Mediating Factors: How Sustainability Improves Performance- Employee Relations)
- News coverage of a firm’s environmental and social performance is significant in consumers’ evaluation of a firm and their intent to buy its products, according to a study published in Corporate Reputation Review. (Harvard Business Review, Jan-Feb 2021 - Mediating Factors: How Sustainability Improves Performance- Media Coverage)
- A firm’s sustainability activities can improve relations with local communities and society more broadly, with positive financial impacts. A study of mining companies that worked with local communities to ensure good relations improved the discount placed by financial markets on the net present value of their physical assets from 72% to a range of 13% to 37%. (Harvard Business Review, Jan-Feb 2021 - Mediating Factors: How Sustainability Improves Performance- Stakeholder Engagement )
