Organisations across the globe have started to embrace the idea of sustainability programs, according to KPMG's Global Climate Change and Sustainability report.
The study, reported by management-issues, found 62 per cent of companies currently have a working sustainability strategy, an increase from just over the 50 per cent of companies with green initiatives in 2008.
It's claimed 80 per cent of larger publicly listed companies have sustainability policies while just under half of the small businesses involved in the study had a green strategy in place.
Of those organisations without a sustainability strategy, around 70 per cent expect to develop one in the next five years.
The study also considered some the barriers to achieving successful sustainability programs. In summary, these include:
- A lack of standardised tools to measure the impact of programs
- Limited funding in comparison to operational programs
- The absence of an international regulatory framework
