Many CEOs want to make a difference. Convinced that companies should play a positive role in environmental stewardship and social development, they declare sustainability a top priority, launch a transformation program, hire a chief sustainability of?cer, and commit millions of dollars and hundreds of hours of management time to the effort. Then momentum fades.
It’s a frustrating setback—and a common one. A new report released Bain & Company, finds that only 2 percent of corporate sustainability programs achieve or exceed their aims, compared to 12 percent of other corporate transformation programs.
. . . Organizational change takes time and management commitment, but companies that succeed say it is worth the investment. Sustainability efforts can invigorate the core business, bolster the customer value proposition, secure the supply of key resources, lower operational costs and improve employee satisfaction.
The study makes four recommendations to help companies achieve sustainability gains: