More than half of senior executives responsible for environmental, social and governance (ESG) initiatives as well as sustainability issues say their firms will have double-digit increases in spending toward the efforts in 2022 and will prioritize funding related to supply chain sustainability, according to a survey released by research firm Verdantix. Businesses are being spurred into action by increased stakeholder pressure on ESG and developing regulatory aspects of the issues, Verdantix says in its Global Corporate Survey: ESG And Sustainability Governance, Strategies And Priorities . A quarter of executives say improving supply chain sustainability is their top priority over the next two years. Additionally, the survey found that 26% of CEOs view ESG among the top three issues their companies are currently focusing on. The survey also found climate change policy development is the most significant driver for increasing corporate involvement in sustainability issues over the past year. About a third of the executives who responded to the Verdantix survey say a lack of clarity on reporting standards holds back ESG efforts for their companies. Around the same number of respondents indicate ESG data complexity is a significant barrier to their goals. Reporting and accountability of supply chain ESG […]
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