The COVID-19 pandemic accelerated many things in the business world, but one item that temporarily fell off the priority list was sustainability. In a survey of 750 executives, Deloitte found that nearly two-thirds of organizations had to cut back on environmental sustainability efforts due to the pandemic and resulting economic downturn.
But ongoing pressure from consumers, employees and even regulators has forced businesses — especially retailers — to reprioritize sustainability along with broader corporate social responsibility (CSR) strategies. Retail TouchPoints recently partnered with Amazon Web Services on a survey of 500 retail and brand executives and found that the vast majority (84%) have incorporated CSR in some way into their business strategies, largely because they think it is the right thing to do (72%). But that isn’t the only reason. There are a multitude of internal and external factors motivating action, including the desire to protect their company’s reputation (50%) and even to reduce costs (35%).
About the Author
Follow on Linkedin
More Content by EcoVadis