While Asia-Pacific businesses see a compelling business case for sustainability, more must be done to incorporate climate change into company planning, with cooperation and technology playing a crucial role, according to a recent study.
The study – published by Vodafone Business polled 3,101 enterprises from 15 different countries, including 748 from Asia-Pacific – discovered a discrepancy between how firms perceive sustainability and the actions they really take.
Seventy percent of Asia-Pacific businesses view sustainability as an important strategic goal, the study finds, and 52% agree that businesses should focus on preventing climate change.
However, less than a quarter (24%) of the businesses in the region polled agree that they have a well-developed plan in place to tackle climate change.
Additionally, less than half (41%) say they are committed to moving towards net-zero emissions, and only a third (35%) say they are taking action to offset their carbon impact.
Businesses in the region that include sustainability measures in their business planning reap major financial rewards. According to the survey, 74% of companies reporting increased earnings this year have an official environmental, social and governance (ESG) programme in place, which is significantly higher compared with firms that reported lower profits, where less than half (47%) say they have such programmes in place.