The importance of sustainability work
We at Novus know through all our research that sustainability today is not just a “buzz” or something that someone else has to take responsibility for. Our results clearly show that sustainability has become a means of competition where customers, employees and other stakeholders to a much greater extent like and choose, what they perceive to be, sustainable companies.
At the same time, all companies work intensively with strategies and activities around sustainability, which involve a lot of resources and large investments. The goal is of course to take an active responsibility for sustainability according to established criteria in ESG (Environmental, Social, Governance) as well as wanting to be considered a sustainable company and be an attractive company in its market.
In several different assignments, Novus has been able to establish that almost all Swedes think that sustainability is important. Not unexpected and certainly something that everyone recognizes. At the same time, our surveys show, regardless of industry, that there are very few who have knowledge of and trust in companies’ sustainability communication, and that they live up to the guidelines for sustainability. Here, too, recognition is believed to be high – do you yourself trust that the companies from which you buy products/services follow guidelines for sustainability work?
Quite dismal results given the resources invested in sustainability-related efforts, and the focus that sustainability work has today.
We also know that as many as 7 out of 10 customers say that companies’ sustainability work affects their choice of companies and products/services. And, based on many years of acquired knowledge and experience, we know that the view of a company’s sustainability work has increased in importance for e.g. customer satisfaction and customer loyalty. In other words, working with sustainability today clearly has a higher impact on customer satisfaction and how they view their future loyalty than it had just a few years ago.
The sustainability work is therefore really important! And that work should and must be followed up both internally (e.g. according to the new EU directive CSRD) and externally (e.g. to examine your stakeholders’ views on different parts of your sustainability work).
Some examples of what we at Novus have helped our customers find out about sustainability are:
- The public’s general view of, and attitude towards, sustainability, CSR, climate and energy issues.
- How honest Swedish companies are perceived to be in their communication regarding climate and sustainability work.
- How the credibility of the climate issue differs between different industries.
- Familiarity, interest and preference for sustainable companies/companies.
- If and how customers’ behaviors have changed regarding sustainability.
- How the view of a company’s sustainability affects its attractiveness as an employer.
- How the employees perceive and comply with the sustainability work.
- How different stakeholder groups experience the work with different sustainability aspects and how different aspects should be prioritized, per stakeholder group.
For many years, we have had the privilege of producing reliable data that contributed to fact-based decisions about, for example, product/service development, communication efforts, target group optimization, etc. With insight from all social actors, we have both breadth and depth, which gives our customers a unique advantage.
Do you also need a partner who can help you find out the facts, who can create a clear basis for prioritization, and who has knowledge and insight from all important social actors?
Get in touch, we will help you!
Petra Wiik, Senior Client Advisor