firms disregard green risksOctober 2002
Most large corporations think sustainability is important to their business, but few take account of the issue when making long-term business decisions or assessing risk, according to the PricewaterhouseCoopers 2002 Sustainability Survey.
The survey of 140 large US companies found that almost two-thirds rated the importance of sustainability to their business at six or higher on a scale of one to ten.
However, only 28 per cent of respondents considered sustainability issues when evaluating new projects and investments – and 72 per cent said they did not incorporate sustainability issues into their formal project and investment evaluations.
Even among those which rated sustainability as a key factor in overall reputation, 60 per cent said they did not evaluate sustainability risks.
‘Although companies recognize these risks and opportunities as important, they are not taking steps to identify and evaluate them,’ said Andrew Savitz, a partner in PricewaterhouseCoopers’ sustainability services practice.
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