The power of purpose
Companies are now thinking about their purpose beyond profit and how they can add value over the long term, according to Thomas Milburn, Associate Director of Corporate Citizenship. In the Where the World’s Moving Global Report, Milburn says executives are increasingly aware that engaging in sustainable practices is not just the right thing to do, but it also helps future proof organisations and create long term value.
This sentiment has also been driven by a growing pressure from consumers who are increasingly savvy about what companies are doing. In fact, the report shows 58% of Australians respondents say sustainability is an important factor in their purchase decisions. A similar sentiment was reflected in other regions: UK (60%), USA (66%) and most readily embraced in China (86%). A genuine commitment to Corporate Social Responsibility (CSR), the environment and sustainability are now competing with price as the key driver for consumers.