Thursday, October 25, 2012

CFOs are Embracing Sustainability and Seeing Benefits

CFOs are embracing sustainability and getting results from doing so. As reported by Greenbiz, a global survey from Deloitte demonstrates that a growing number of chief financial officers (CFOs) are driving sustainability strategies. The survey, conducted by Verdantix, indicates that CFOs are realizing the key role sustainability plays in financial and business success.

Drawn from the responses of 250 CFOs in 14 countries including the United States, Brazil and South Africa, Deloitte found that two-thirds of CFOs are involved in their company’s sustainability strategies. More than half of those surveyed say their involvement has grown in the past year.

Led by cost savings attributable to better energy management, there was a marked change between this year’s results and results from the same survey in 2011. The percentage of CFOs that are engaged in sustainability issues at their companies jumped from 20 percent last year to 36 percent this year.

More than 70 percent of CFOs reported cost-savings in their financial reports, while more than 50 percent reporting savings relating to tax matters. More than 50 percent of CFOs said they planned to invest in video conferencing and data center efficiency equipment, and 35 percent in electric vehicles, to reduce their company’s carbon footprint and energy use from data centers.

David Pearson, Deloitte sustainability leader and one of the authors of the report, emphasized the importance of sustainability for CFOs, stating "it’s no longer a ‘nice to have’ – it’s an integral part of business around the world.”

© 2012, Richard Matthews. All rights reserved.

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