The Sustainability Value Triangle: A Path to Business Success
Overview
The "Sustainability Value Triangle" report shows how integrating finance, IT, and sustainability functions can unlock greater business value. The key to sustainability success lies in collaboration, data, and new technologies like AI.
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The Need for Change:
Sustainability isn’t just a buzzword. It’s a business imperative, which can be seen in companies’ finance and IT departments.
Companies that integrate sustainability into their finance and IT functions see higher returns.
When finance, IT, and sustainability teams work together, the overall impact is greater than any individual sector.
The Role of Collaboration:
Collaboration across departments is essential to creating value from sustainability efforts.
Finance teams need to understand sustainability goals in order to align resources effectively.
IT can provide the data and tools to track sustainability efforts accurately.
When all departments are aligned, companies achieve better sales growth and cost efficiencies.
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AI Use:
Artificial intelligence (AI) has the potential to transform sustainability efforts. .
Only a small percentage of businesses currently leverage AI for sustainability.
Half of all leaders believe AI will play a critical role in driving progress within the next two years.
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Overcoming Data Gaps:
Reliable data is the foundation of any effective sustainability strategy, but many companies struggle to obtain accurate data.
Finance and IT teams often lack sufficient knowledge of sustainability to collect and report precise data.
By bridging this gap in knowledge, as well as other gaps in knowledge surrounding sustainability, decision making and efficiency in sustainability progress tracking can be improved.
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Practical Steps for Success:
To increase sustainability progress, companies should consider these possible actions:
Encourage collaboration between finance, IT, and sustainability teams.
Invest in training to close knowledge gaps and improve data collection.
Use AI to optimize operations and track sustainability goals.
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