Some 55 percent of U.S. executives say their organization has a formal sustainability strategy in place, according to the recent KPMG International study. And another 12 percent say they are working on a strategy, while an additional 19 percent expect to eventually develop a formal plan.
The study, Corporate Sustainability: A progress report , also confirm that U.S. companies are closing the gap with their counterparts elsewhere. More than 62 percent of executives globally say they have implemented a formal sustainability program, according to the study, which was released in connection with the launch of the new KPMG Global Center of Excellence in Climate Change & Sustainability, based in the Netherlands.
"These results are encouraging and we see highly focused companies continuing to make progress in developing and implementing sustainability strategies that they say result in greater profitability and efficiency," said John R. Hickox, who leads KPMG's Climate Change & Sustainability practice in the Americas.
The KPMG study also found that the drivers behind most sustainability programs—in this country and elsewhere—have been customer influence and brand enhancement, while challenges included how to determine and measure program metrics, obtaining reliable internal sustainability data, and meeting a variety of reporting requirements
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