Recent surveys on market trends reveal that customer’s outlook for sustainability has risen conspicuously. Awareness about irreversible environmental losses and high rising pollution levels have provoked the demand for sustainable products, even at higher costs. People are paying higher prices for organic products. Similarly, there has been a spectacular rise in the demand for non-polluting products and services. There is no dearth of investments for renewable energy projects.
These are apparent indicators, calling loudly, for change in business strategy from conventional to sustainable. The Agile group, being a sustainability report consultant in the Middle East region, has seen remarkable growth in a number of companies reporting on sustainability.
The mindset has shifted from conventional apathy towards depleting natural resources, to the fervent approach for sustainable resource utilization. This shift in the mental approach has made sustainability reporting inevitable for companies/organizations.
Agile advisors a sustainability report consultant in Dubai appreciate the prominent shift of mindset for sustainability. A major factor for the shift of mindset is the sense of an insecure future. The sense of insecure future has arisen out of the phenomenal increase in incidences of natural calamities, apparent effects of global warming, inducing changes in climatic patterns, rise in suffocating pollution, diminishing biological diversity, and spread of the pandemic, etc. These have collectively generated a phenomenal increase in the mindset for sustainability.
The mindset for sustainability has been explained by the United Nation supported initiative PRME (Principles for Responsible Management Education). It explains that the Sustainability Mindset is a way of thinking and being that results from a broad understanding of the ecosystem’s manifestations, and an introspective focus on the personal values and the higher self, The mindset finds its expression in actions for the greater good of the whole. The Sustainability Mindset is ultimately a lens through which we analyze and interpret information, and make decisions.” As a sustainability report consultant, we believe this is the aptest definition.
Being a sustainability report consultant in the Middle East region we notice a strong but calm shift of paradigm to sustainability mindset. And it becomes obvious to a sustainability report consultant/observer that in the coming days this mindset is going to deeply influence global corporate activities. Recent surveys clearly indicate the shift. Which is a reason why several companies have included sustainability reporting as an annual exercise.
Studies show that eight out of ten respondents opine that companies/organizations should try to improve the environment by adopting sustainable processes. And it is obvious that because of such attitudinal shift those companies would get the favor of who have sustainable approach and whose sustainable approaches have been made transparent by sustainability reporting.
About four out of ten consumers prefer to buy, even at higher costs, products made with sustainable materials. Duly proclaimed environment-friendly products, get almost 40 % increased preference over those brand names who do not report sustainability. It has been found in surveys that people give importance to brands that are eco-friendly. This attitude has created some interesting examples. A comparatively new Indian company that makes herbal products, duly reports, and invests amply to social responsibility, has grown up very fast and now competing with multinationals.
It has rightly been said that transparency wins customers in long run. Recent findings show that a fairly large percentage of customers search for the origin of the products they buy, and more than 60 % of these consumers would pay more for brands that provide this information.
Investors prefer to invest in companies reporting about their sustainability practices. The preferences for sustainability-supporting products increase during a period of environmental stress. A study on sustainability states that the pandemic has increased sustainability awareness. Sustainable materials are now an important purchasing factor. Sustainability mindset and concerns are being converted into actions. Although the mindset is an internal aspect, however, it is manifested in action. A big leap in sustainable product sales is being forecasted in post covid era.
As sustainability reporting consultants, we the Agile advisors, strongly feel that every organization/company should adopt sustainable activities as far as practicable. We have reached a phase of severe environmental crisis. Collective action from all actors/stakeholders is required to stop the march towards catastrophe.
Every company/organization must adopt sustainability Reporting to keep pace with global trends for sustainable corporate activities.
We at agile help our clients in developing sustainability reports, implementing sustainability initiatives, and setting short- and long-term sustainability strategies.
For details, please visit us at https://www.agilemea.com/sustainabilityadvisory
Or contact us at info@agilemea.com
