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Environmental Leader reports that McKinsey is out with a new survey suggesting that corporations are taking a new approach to sustainability issues: “Cutting costs is now companies’ top reason for addressing sustainability, bumping corporate reputation down to second place. New growth opportunities have also jumped in popularity as a reason for sustainability initiatives.

“McKinsey found that mission and values are the most common business area in which companies have integrated sustainability, followed by external communications. But companies are still not doing much to integrate sustainability into their internal communications or employee engagement, the consultants said ... They say most companies’ approach still focuses on launching individual initiatives to enhance their reputation, comply with regulations or deal with ‘emergencies,’ instead of treating sustainability as an issue that directly affects business results.”

The story goes on: “Compared to 2010, larger shares of executives said sustainability programs make a positive contribution to their companies’ short- and long-term value. But McKinsey said the relationship between sustainability and value is still unclear in executives’ minds, with about a third of respondents saying they don’t know how much sustainability initiatives add to shareholder value at their companies.”
KC's View:
It is moving in the right direction. The first step in making sustainability a truly sustainable business strategy is understanding that it has long-term fiscal implications. Step two is being strategic, not just tactical.