Genpact Global Study Reveals Direct Correlation Between Companies' Sustainability Practices and Business Performance
Report finds artificial intelligence and analytics key to achieving climate goals
The research, Tech for Progress 360: Accelerating climate action with data-led insight, finds that 58% of senior executives who strongly agree that their companies have embedded environmentally sustainable business practices – the sustainability leaders – have better business performance compared to 40% of other respondents. These leaders also are most likely to say their organizations adopted new technologies over the previous two years (70% vs 45% of other respondents), demonstrating that forward-thinking companies often lead the way on multiple innovation fronts. They understand the necessity of leveraging digital technologies and data across their organizations as well as the importance of putting environmental sustainability practices front and center in their businesses.
For those sustainability leaders, technology plays a critical role in helping them achieve their ambitious goals. Half of the respondents recognize the potential of artificial intelligence (AI) and 40% see the potential of advanced analytics to advance their climate-related sustainability goals. Conversely, those who have less established practices are less likely to call out the value of these technologies. This underscores an ongoing and widening gap between those leaders who know how to use AI, data, and analytics to unlock enduring value for their organizations and those who do not.
The research reflects input from 510 senior executives from large global enterprises. It examines the challenges and opportunities businesses face as customers, investors, and employees seek out responsible businesses, and regulators impose more environmental, social, and governance (ESG) reporting requirements.
"As businesses grapple with economic uncertainties, the time is ripe to identify, manage, and reduce ESG-related risks that can have a significant impact on the environment and a company's long-term sustainability and profitability," said
Tracking environmental sustainability with data-led insights
Businesses can no longer ignore or play lip service to environmental sustainability. As regulators place more scrutiny on ESG practices, companies need to pay closer attention to how they track both their initiatives and those of their entire supply chain ecosystems, by taking advantage of data-driven insights.
Perhaps not surprisingly, survey respondents whose companies lead with embedded sustainable business practices are also more likely to use data and insights to encourage their partners to make progress towards their sustainability goals (58% vs 47% of other respondents).
However, these sustainability leaders are no more likely to track performance against climate goals, report on emissions, or monitor regulations than other respondents. All companies have more work to do as governments and regulatory bodies continue to require organizations to provide stakeholders with consistent, comparable, and reliable climate-related information.
Leading in the Race Against Climate Change
As the greenest team on the greenest grid,
Conducted in partnership with
For more information, see https://www.genpact.com/tech-for-progress/environmental-sustainability
About the Research
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. Led by our purpose – the relentless pursuit of a world that works better for people – we drive digital-led innovation and digitally enabled intelligent operations for our clients. Guided by our experience reinventing and running thousands of processes for hundreds of clients, many of them Global Fortune 500 companies, we drive real-world transformation at scale. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 100,000+ of us. From New York to New Delhi, and more than 30 countries in between, we connect every dot, reimagine every process, and reinvent the ways companies work. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.
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