A global study commissioned by the Oracle computer company reveals that 94% of people believe that not enough progress has been made in the field of sustainability and in the social field * 78% of people are frustrated and fed up with the lack of progress of businesses in these areas
People around the world are demanding more progress in the areas of sustainability and society, and expect businesses to move into action. This is according to a new study by the Oracle company with Pamela Rucker, a CIO consultant and facilitator in the Harvard program for professional development. The study, which includes more than 11,000 consumers and executives in companies and businesses, found that people are tired of the lack of progress in existing and social initiatives. They want business to turn talk into action, and believe that technology can help businesses succeed where people have failed.
People expect businesses to be mobilized to step up efforts in the areas of sustainability and society
The events of the last two years have put the efforts of sustainability and social efforts in the spotlight, while people all over the world are tired of the lack of progress and they call on businesses to go out and take action:
- 93 percent of people believe that sustainability and social issues are more important than ever, and 80 percent said the events of the past two years have caused them to change their activities.
- 94 percent believe there has not been enough progress. 42 percent attribute this to people being too busy with their other priorities, 93 percent believe it is the result of a greater emphasis on short-term gains versus long-term benefits, and 37 percent believe people are too lazy or selfish to help save the planet.
- Forty-five percent believe that business can bring about a more significant change in sustainability and social factors than individuals or governments alone.
- 78 percent are frustrated and tired of the lack of business progress to date, and 89 percent believe it is not enough for businesses to say they prefer ESG (environment, society and government) – they need to see actions and evidence.
- 84 percent believe that businesses will achieve greater progress toward existing goals and a company with the help of artificial intelligence (AI) and 61 percent believe that bots will succeed where people have failed.
Human prejudice and operational challenges are holding back business
Company executives know that sustainability efforts are critical to business success and even trust more bluntly than people alone in driving sustainability and company efforts:
- 92 percent believe that existing programs and Environment, Society and Government (ESG) are critical to the success of their organizations. Managers highlight the top three benefits from these programs: strengthen the brand (40 percent); Increase productivity (39 percent); And attracting new customers (38 percent).
- Almost all business executives (91 percent) encounter obstacles in implementing existing initiatives and ESG. The biggest challenges include achieving joint and third-party ESG indices (35 percent); Lack of data (33 percent); Time-consuming manual reporting processes (32 percent).
- 96 percent of executives admit that prejudice and human emotions are distracting more than one end goal, 89 percent believe that organizations that use technology to help promote business practices in the field of sustainability will be the ones to succeed in the long run.
- 93 percent of managers trust a bot more than a human being in making decisions about sustainability and society. They believe bots are better at collecting different types of data without errors (43 percent); In making rational decisions without prejudice (42 percent); And predicting future results based on past performance metrics (41 percent).
- Managers believe that people are still vital to the success of existing initiatives and society, and believe that people are better at implementing change based on feedback from stakeholders (48 percent); Educating others about the information needed for decision-making (46 percent); And context-based strategic decision-making (42%).
People will cut off contact with businesses that do not take action on existing initiatives and society
Businesses are required to prioritize sustainability and company issues and rethink how to use technology to make an impact – or risk significant consequences.
- 94 percent of people want progress on sustainability and society to create a healthier lifestyle (50 percent); Save the planet for future generations (49 percent); And help create more equality for the world (46 percent).
- 70 percent of people are willing to cancel their relationship with a brand that does not take existing initiatives and society seriously, and 69 percent will even leave their current workplace and move to a brand name that places a greater emphasis on those efforts.
- If organizations are able to clearly demonstrate their progress on sustainability and society issues, people will be more willing to pay a premium price for their products and services (87 percent); Invest in their companies (83 percent); And work for them (83 percent).
- Managers understand the importance and urgency – 94 percent believe sustainability and company metrics should be used to update traditional business metrics, and 91 percent want to increase their investment in sustainability.
“It has never been more critical for businesses to invest in existing initiatives and ESG, because people do not just want to hear about it – they are looking for decisive action and demand greater transparency and real results,” she says. Gili Schlesinger-Moran, Director of the Enterprise Division in the e-SaaS At Oracle Israel “Corporate and company executives understand the importance, however, sometimes mistakenly assume they have to prioritize either sustainability or profits. The truth is, this is not a zero-sum game. The technology that can neutralize all obstacles to ESG efforts is available now, and organizations that understand it correctly can not only support communities. Their and the environment, but also to achieve a significant increase in revenue, cost savings and other benefits affecting the bottom line.
“The events of the last two years have put existing initiatives and society under the microscope and people are demanding a fundamental change. While there are challenges in addressing these issues, businesses have a huge opportunity to change the world for the better,” she says. Pamela Rucker, consultant CIO And facilitator of the Harvard Professional Development Program. “The results show that people are more likely to do business with organizations that work responsibly for our society and the environment, and work for them. This moment is an opportunity.
methodology:
The study findings are based on a survey conducted by Savanata Inc. February 25 – March 14, 2022 with 11,005 respondents worldwide from 15 countries (United States, UK, Germany, Netherlands, France, China, India, Australia, Japan, Singapore, South Africa, UAE, Saudi Arabia, Brazil and Mexico) . The study examined the attitudes and behaviors of consumers and business executives towards sustainability and society efforts alongside the role of artificial intelligence (AI) and robots and expectations of them in environmental, society and governance (ESG) efforts.
Website Editor’s Note:
To the best of my experience there is no such thing as environmental corporate responsibility – at most there is a spit in the form of small sustainability projects. The respondents are right in saying that this is due to the preference for profits in the short term over the long term. For companies to be green we need to find a way to price the real environmental cost of the products and this will not happen as long as the big corporations control the decisions of the governments – even in democratic countries. The public itself should force this through withholding investment from energy-intensive companies, companies that exploit cheap labor in Third World countries, companies whose leaders are partners in the lobby against halting the climate crisis and more.