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26 June 2008
Asia firms adopt sustainability
Source: www.property-report.com
by Meagan Kelly
Advertisement
A survey has found the majority of businesses in the Asia Pacific believe sustainable investment is worth the cost.
The Economist Intelligence Unit found 64 per cent of Asia Pacific executives agreed that benefits outweighed any costs of sustainable investment. The survey found 42 per cent believed improved shareholder value was the greatest advantage.
Despite some companies saying that there is still confusion about what sustainability means for an organization, Asia Pacific is making progress.
According to the survey, Asia Pacific firms are leading the global average in sustainable practices. For instance, 59 per cent of Asia Pacific businesses have taken steps to improve governance of environmental and social performance. The global average is 51 per cent.
More regional companies have also revised and tightened controls to support ethical business dealings. However, Western European companies are making greater progress in reducing carbon emissions than firms in Asia Pacific; 25 per cent have reduced carbon emissions compared to only 20 per cent in the Asia-Pacific region.
The EIU Asia Pacific Executive Summary was sponsored by real estate services firm Jones Lang LaSalle.
“More and more companies are recognizing the strong business case for sustainability, but while there is a lot of talk, the challenge remains in the implementation,”said Chris Wallbank, National Director of Energy and Sustainability Services at Jones Lang LaSalle.
According to the survey, one roadblock to implementation is that many companies lack a coherent strategy, though 57 per cent of Asia Pacific firms already have a sustainability plan in place.
The results are based upon a global survey conducted by EIU at the end of 2007 to assess the impact of sustainability on business today. It drew on a wide-ranging survey of 1,254 executives worldwide, including 337 based in the Asia Pacific region.
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Sustainable Investment Research Platform
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