Global megaforces are transforming societies and economies internationally and within Australia at a rapid pace, creating both risks and opportunities for business. Responding to these megatrends provides a key opportunity to embed sustainability into core business activities and strategy.
In December, GRI Focal Point Australia, together with CPA Australia and KPMG Australia, launched research investigating how ASX50 companies are recognising ten key global megaforces – population growth, climate change, energy and fuel, material resource scarcity, wealth, water scarcity, food security, deforestation, ecological decline and urbanisation – that are set to impact their businesses over the next 20 years.
The research – From Tactical to Strategic: How Australian businesses create value from sustainability – reveals how Australian businesses are (and are not) recognising, responding to and creating value from these challenges.
In particular, it reveals that while companies broadly understand their own sustainability impacts, they do not yet fully understand how global sustainability trends are impacting and will in the future impact on their businesses, and are not embedding responses to these trends in their strategic activities.
The research also shows that many companies are failing to articulate the value that active engagement in issues of sustainability creates for their businesses.
Join us on this short webinar to hear from Victoria Whitaker, Head of Australia, Global Reporting Initiative, who will brief participants on the research findings and the key lessons for Australian businesses in understanding and strategically responding to the megaforces in ways that will create value in the short, medium and long terms.
