How does the lack of a sustainability strategy impact your business? And how can EAM technology help you? Let\u2019s explore the possible outcomes of not having a sustainability strategy.<\/p>\n\n\n\n
People are fed up with companies that disregard how their business practices impact the planet, with the majority willing to pay more to support environmentally friendly alternatives.<\/p>\n\n\n\n
The Global Sustainability Study by Simon-Kucher & Partners surveyed 10,000 people across 17 countries to understand why sustainability is increasingly important in purchasing decisions. It turns out that globally, 85% of respondents report shifting their purchase behavior to support sustainable options\u2014even if it costs more.<\/p>\n\n\n\n
Not surprisingly, customers expect enterprises to put their money where their mouths are, backing up claims of environmental consciousness with science and hard facts.<\/p>\n\n\n\n
For asset-dependent organizations, this means tracking hundreds and even thousands of enterprise assets to report on various environmental outputs, including carbon emissions, air and water pollution, deforestation, waste management, water usage, and many other measurements.<\/p>\n\n\n\n
EAM technology<\/a> helps the planet and the bottom line, connecting diverse components and providing broad oversight of the entire operation. Along with ensuring asset productivity and other traditional business outputs, enterprises can set specific sustainability goals, track performance, and receive real-time alerts when anomalies occur.<\/p>\n\n\n\n Most importantly, EAM technology enables detailed reporting to prove compliance with regulatory and industry standards\u2014incontrovertible proof of the company\u2019s commitment to sustainability.<\/p>\n\n\n\n People want to take pride in their work and their employer, favoring job offers from companies with an established track record in sustainability practices. 51% of people* report that they won\u2019t work for a company that doesn\u2019t have strong social or environmental commitments.<\/p>\n\n\n\n These numbers only increase within younger demographics, with 96% of millennial employees* requiring that their employers take active steps to become more sustainable over time. With millennial employees projected to make up to 75% of the workforce by 2025<\/a>, it\u2019s clear that enterprises that want to be an employer of choice will need a strong sustainability ethos.<\/p>\n\n\n\n EAM technology delivers hard numbers a company can use to prove its position and performance relative to sustainability. Along with real-time data, EAM tracks performance over time, comparing present-day results with established benchmarks.<\/p>\n\n\n\n Socially conscious investors rely on environmental, social, and governance (ESG) standards to gauge a company\u2019s behavior when screening potential investments. If an organization falls short of its ESG commitments, the investment is redirected to businesses with a positive track record and consistent results.<\/p>\n\n\n\n According to PWC research, ESG has become a make-or-break consideration for leading investors globally:<\/p>\n\n\n\n From the perspective of sustainability, ESG standards consider how a company safeguards the environment, including corporate policies to address climate change and other factors.<\/p>\n\n\n\n2. Hiring (and retaining) people is difficult<\/strong><\/h4>\n\n\n\n
3. Investors won\u2019t invest<\/strong><\/h4>\n\n\n\n
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