A report by Kyndryl and Microsoft revealed that while 86% of organisations in India recognise the significance of sustainability in shaping business strategies, only 16% have prioritized sustainability goals and built them on real facts and data.
The Asia Pacific edition of The Global Sustainability Barometer study by Kyndryl and Microsoft evaluates the sustainability landscape in India, the disparity between intent and operational implementation, and highlights how sustainability initiatives can stimulate innovation, foster growth and bolster competitiveness.
The study revealed that 41% of organisations integrate sustainability initiatives in their reporting for compliance purposes and 89% of respondents claim that the Indian government significantly influences sustainability adoption.
While 68% of the survey respondents see great significance in technology’s role in achieving their goals, only 34% believe they make full use of it in their organization. Additionally, customers emerge as the most influential stakeholders advocating for sustainability (60%), followed by employees (52%) and supply chain partners (40%).
Indian companies have a top-down approach with over 55% of sustainability officers reporting to the CEO and the CEO defining the vision of sustainability programmes in 93% of organisations, However, only 17% of organisations report achieving full alignment between their sustainability and finance teams, highlighting an urgent need for enhanced integration.
“Organizations are at diverse levels of sustainability maturity. Visionary companies are harnessing technology to meet regulatory standards and to pursue sustainability objectives effectively. They are leveraging technology to fulfill customer expectations, reduce expenses and innovate, thereby unlocking the full potential of sustainability,” said Faith Taylor, Chief Sustainability and ESG Officer, Kyndryl.