June 13, 2003—Although companies in both the US and Europe consider sustainability-management for the long-term vitality through attention to economic, environmental, and social performance-important, managing for sustainability has different priorities on each side of the Atlantic, according to a recent survey by PricewaterhouseCoopers.
Survey findings include:
- 81 percent of senior executives of large US-based businesses report that sustainability practices will be essential or very important to their company’s strategic mission over the next two years, compared to 61 percent for European businesses.
- 50 percent of European companies place a major focus on the economic and social impact of their products and services, compared to 27 percent in the US.
- 45 percent of European companies are focused on environmental issues, compared to 26 percent in the US.
- 91 percent of US executives report that positioning for long-term profitability is a major emphasis, compared to 80 percent in Europe. For management oversight and compensation, 54 percent in the US versus 41 percent in Europe.
- Over the next twelve to eighteen months, 24 percent of European companies expect to provide increased funding for environmental impacts, compared to 15 percent in the US.
- Businesses expect increased funding for: corporate governance (US, 55 percent; Europe, 33 percent); hiring policies, work conditions, and benefits (US, 49 percent; Europe, 29 percent); and business ethics (US, 43 percent; Europe, 26 percent).
The survey, part of the Management Barometer series, is developed and compiled with assistance from the opinion and economic research firm of BSI Global Research Inc., which interviewed 103 Europe-based and 150 US-based CFOs and managing directors.
