BDO and Mercuri Urval conducted a study surveying around 150 companies across 13 European countries to gain insights into companies’ attitudes towards the integration of environmental, social and governance (ESG) factors, the obstacles they face and their main drivers.
The survey's results show that the three key success factors in driving a company’s ESG journey are: embedding sustainability into the business strategy, leadership commitment, and employee engagement.
Business leaders are, therefore, instrumental for succeeding in the transformation towards more sustainability. Companies should equip them with the necessary knowledge to be able to identify ESG risks and opportunities, set measurable targets and KPIs, and engage employees. By offering capacity building activities to leaders and managers, companies can foster a culture of sustainability and ensure that ESG considerations are integrated into every aspect of the business.
Finally, the study highlights some key differences between large companies and SMEs and suggests a roadmap of actionable recommendations for companies to move forward in their ESG journey, enabling businesses to create long-term value for all stakeholders.
