Companies to spend $158 bn on environmental, social sustainability
“In 2022, all enterprises are being pushed to transform and fundamentally change the way they do business to become sustainable enterprises,” said Dan Versace, research analyst, ESG Business Services. Owing to increased pressure from customers, investors, and regulators, organisations are beginning to understand the business cases for sustainability. “Those organisations that develop and implement plans to better internalise and address their environmental and social impact stand to thrive in the years ahead as leaders in the sustainability space,” said Versace. The ESG business services are centred around achieving goals related to environmental and social sustainability and the governance of that process. The main focus areas for organisations’ investment in sustainability are business strategy, human capital management solutions, and risk management. The largest area of spending, strategy consulting, will enable organisations to efficiently embed sustainability into their business strategy, which is the driving force of corporate purpose and in turn sustainable operations.