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How to avoid the failure trap

Wherever they are in their sustainability journey, all companies face
the significant challenge of making change happen. Our survey shows
just how hard sustainability change efforts are to pull off: Among
survey respondents, only 4% say they fully succeeded in achieving
their sustainability goals, compared with 47% who say they failed.

But there are ways that companies can boost their odds of success.
Creating a compelling story, making bold commitments and loudly
championing them helps to galvanize change. Companies that
succeed ensure that sustainability is owned at the CEO level, and
that influential and trusted opinion leaders are on board. They make
sustainability an “and” not an “or,” giving managers appropriate air
cover and incentives to connect corner-office passion to frontline
realities.

The companies that are most successful at enacting change push
on the open doors: They start with easier initiatives to create proof
points. They use industry collaboration to overcome barriers. And
they align governance and day-to-day activities to support the
combined sustainability and business strategy.

Wherever they are in their Indeed, achieving true sustainability may seem daun-
sustainability journey, all companies ting, but it is necessary and inevitable. Companies
“face the significant that take the leap from best practice to next practice
will lead the shift to a sustainable world—and gain
challenge of making change competitive advantage in doing so.
happen. Our survey shows just
how hard sustainability change Achieving true sustainability
efforts are to pull off: Among survey may seem daunting, but it is
respondents, only 4% say they “necessary and inevitable.
fully succeeded in achieving their Companies that take the leap from
sustainability goals, compared with best practice to next practice will
47% who say they failed lead the shift to a sustainable
world—and gain competitive
advantage in doing so
that advances are insufficient. But it also highlights
just how hard it will be to build a truly sustainable
economy. 1) Leaders are defined as respondents who ranked
their companies in the top 20%
(score >81) on the question
“If 100 represents the most
sustainable company in your
industry, and 0 is the least,
where would you consider your
company to fall in this range?”

The authors would like to thank
Clare Tovey for leading the de-
velopment of this point of view
as well as Connor McLane and
Daniel Cole for their significant
contributions to this work.

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