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Chart 2


Starting with “Why”


Understanding the drivers for action In the survey, we tested 14 influencing factors which can be broadly organised into 5 key categories as shown on the chart below. There does not appear to be much variation in responses based on type of company, size, and ownership. If we rank them by the order of stated importance from most to least important, leadership, company reputation, government regulations, customers, and shareholders top the list.


Finding Leadership in the number 1 position points to an important shift from “wait and see” position to a more proactive stance by many management teams, regardless of whether it is a push (conviction or anticipating) or pull (customer/partner requests). The contrast between the ranking for leadership and employees as drivers of sustainability could mean that in most companies, employees do not feel empowered enough to demand more action on sustainability and leadership buy-in is important to get a sustainability program started.


Shareholders as influencers of sustainability efforts get middling rating from respondents. This bears


Chart 3


watching. In a recent article in The Economist (Habeas Carbon, April 23, 2022) the role of shareholders to drive change is highlighted and it is likely to grow even more important in the future.


Defining the benefits: As illustrated on Chart 4, future-proofing business topped the list as the most important benefit followed by innovation in sourcing, manufacturing, products, and services. Employee satisfaction / retention, saving money / improving efficiencies appear to have lower pull at this stage. We believe, however, that this hierarchy will evolve as the level of sophistication grows, and as companies learn from successes and challenges of the early movers, and their own experience.


Respondents from public companies list “doing good / doing right” (or possibly being seen to do so) as the most important benefit, also consistent with SME’s community-centered ethos.


In terms of finding the right balance between doing good and doing good business, a significant share of respondents from the large companies feel that they have found the right balance, with just over a


Continued on page 42 LUBE MAGAZINE NO.169 JUNE 2022 41


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