Author: Purple IVY
Our report on sustainability integration – 5 key insights
Integrating sustainability into company strategy is one of the most important tasks for building a resilient future. But what is happening to make this a reality, where are the challenges today and what does sustainability integration look like in practice? This and more are explored in our recently launched report ‘From Push to Pull: The State of Integration 2022/2023’.
Let’s have a look at the 5 key insights of the report!
1. Greenwashing vs. Greenhushing
In an effort to avoid greenwashing, companies are increasingly keeping quiet about their sustainability initiatives and performance, a phenomenon known as greenhushing. At the same time, “the green story” is needed to inspire and educate consumers, partners and other stakeholders. New guidelines, like the EU Green Claims Directive, aim to help unlock this situation but will potentially add extra pressure.
2. The changing role of sustainability teams
As the value of integrating sustainability throughout the organisation and across value-chains becomes clearer, CSOs, Sustainability Managers and their teams are experiencing growing demands for their attention, and increasing complexity in their daily work.
3. Sustainability and finance move closer together
Investors and banks are demanding more detailed sustainability metrics, including those that demonstrate positive impact. This means sustainability topics now land on the CFO’s desk, bringing finance functions closer to the sustainability team.
4. One very loud stakeholder – The regulator
New EU legislation to increase transparency and accountability is putting pressure on companies and taking focus from transition planning. Although seen as positive by many companies, others, particularly the smaller ones, struggle to see beyond the mountain of work ahead.
5. Data is a double-edged sword
The demand for sustainability data has risen exponentially. Companies need to make sure that data collection and management don’t take all the sustainability team’s time, but that resources are focused on generating insights from the data. Compliance must be a tool for transition planning.
Summing it up – entering a new phase
As we saw, both the challenges and opportunities of sustainability-integration in business are moving fast, and that this is evidence that we are moving into a new phase of fully integrating a sustainability-mindset and competence into all organisational functions, such as finance and communications. At Purple IVY, we believe it is time to fully integrate sustainability across the value chain to achieve a flow of relationships and information as change picks up speed.
The destination of this journey is a new normal, where the cascade of transparency demanded by regulators shapes a thriving economy in which customers and investors can make good decisions.
Get in contact if you have any questions or for further discussion!