State of Sustainability
IN NORWAY 2020
Norwegian companies increased the level of ambition for sustainability considerably over the past year as pressure from stakeholders increases substantially and are expected to increase even more in the future. |
Companies start to formalize sustainability strategies, but the level of competence in sustainable business among companies is at a relative low level. Only 14% say that they have a very high competence on sustainability in their management team and 10% within the board respectively. |
The majority of the respondents in the study (87 %) report that their company has integrated sustainability in the core business strategy, however, in total 7 out of 10 companies indicate that they have to make changes to their business model by 2030. This indicates that the majority have great strategic intentions, but that there is a shift in mindset; business leaders understand that today's best practices are not enough and that the room for improvement is substantial - We got to be more ambitious and act accordingly.
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The very best have clearly higher competence and integrate sustainability in the whole company. The results indicate a link between internal sustainability focus and increased profitability.
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