What is one of the biggest challenges when companies are committed to sustainability? - Prawin Kurdeg (2024)

FAQs

What are another biggest challenge when companies are committed to sustainability? ›

All in all, the biggest challenge is transparency and finding suppliers who are willing to be transparent about their practices, their manufacturing processes, raw materials, if they reduce waste, improve efficiency, and seek to develop end products that don't just lower costs, but take ESG factors into account.

Expert-Verified Answer. One of the biggest challenges that the companies are committed to sustainability faces are; Operations are impacted the most due to a reduction in procurement. The surrounding community needs to understand the environmental impact of the changes.

Sustainability spans environmental, social and governance issues. Today every organization must embrace sustainability for future competitiveness.

The 3 Pillars of Sustainability

Under this approach, companies target a balanced approach to long-term social, environmental, and economic objectives. Another way to look at this is through the concept of the Triple Bottom Line — People, Planet, and Profit.

1. Insufficient Data Collection and Reporting. One of the fundamental pillars of robust sustainability reporting is the accurate and comprehensive collection of data. However, companies often encounter challenges in this initial phase, leading to incomplete or inaccurate reporting.

Sustainability is impacted by a great many things such as urbanisation, climate change, pollution and population growth. Education is also a vital part of it, as progress is hampered if people are not aware of their environment, resources and how their actions affect the way we interact and live with nature.

Companies face the initial hurdle of low-quality data and lack of coordination among different departments when reporting on sustainability. Various teams collaborate to create a single report and have it audited. These teams can include Finance, CSR/ESG, HSE, and Supply Chain Management/Procurement, etc.

We have committed to achieve net-zero emissions by 2025, focusing first on actual reductions across our Scope 1, 2 and 3 emissions.

Why is it hard for businesses to be sustainable? ›

Resistance to Change: Change is never easy, and transitioning to sustainable practices can be a challenging process for many businesses. Employees may resist changes to their routine or see it as too much hassle. This is where communication and leadership become critical.

What does Accenture mean by "Sustainability will be the new digital?"1) Sustainability will be a part of all of our work and drive new value and growth for our clients. 2) Accenture will need to replace all of its current technologies to be truly compliant.

Accenture plans to achieve its sustainability goals by achieving net zero emissions through advanced robotics capabilities. Option(c) is the correct answer.

By intertwining sustainability with digital advancements, Accenture aims to create a new paradigm where businesses can thrive by embracing environmentally conscious practices supported by innovative technological solutions.