Deloitte Survey: CFOs Will Need to Take a More Energetic Role in Embedding Sustainability into Business Strategy
(Justmeans.com / CSR News) - New York, NY - October 5, 2011 - While a majority of CFOs are aware that sustainability will profoundly affect their "mainstream" duties, almost one third of them—31 percent—say they are either rarely involved or not involved in sustainability strategy and governance at their companies.
This is among the key findings of Sustainable Finance: The risks and opportunities that (some) CFOs are overlooking, a global survey launched by Deloitte Touche Tohmatsu Limited (DTTL) today. The survey was conducted among 208 CFOs of large companies in 10 countries during the first half of calendar 2011.
"The findings of the survey suggest that CFOs can and should take a more energetic role in embedding sustainability into business strategy if they want to gain a competitive edge," says Nick Main, Global Leader, Sustainability & Climate Change Services, DTTL. "It is clear that volatility in commodity prices, new environmental regulations, calls for greater transparency about non-financial performance, and a range of other drivers are compelling management teams to deal with the sustainability imperative in a manner that supports their business goals."
At the tactical level, many CFOs are meaningfully engaged with sustainability right now. More than 70 percent of those surveyed expect sustainability to have an impact on compliance and risk management, and more than 60 percent foresee changes to functions like financial auditing and reporting.