CFOs focusing on corporate sustainability

More than half of CFOs globally are increasingly implementing sustainability strategies in their organizations, says a global survey launched by Deloitte.

The survey, called Sustainability: CFOs come to the table, looked at CFOs in 14 countries worldwide.

“Globally, companies are noticing sustainability is not just a brand or a corporate responsibility element; it’s now a key driver of competitive financial performance and long-term growth,” says Dave Pearson, Deloitte sustainability leader.

Read: Sustainability hits the bottom line

He adds, “CFOs are actively executing sustainability strategies and making key organizational changes, such as introducing more sustainable technology and deploying environment-friendly policies.”

Over the last year, the number of CFOs and COOs accountable to their company’s boards for sustainability issues nearly doubled from 20% to 36%.

Read: Progress for responsible finance

They’re focused most on increased investment in green technologies. To further reduce the footprint of company travel and energy use, many execs are providing funding for more efficient video conferencing (56%), data center efficiency equipment (52%) and electric vehicles (35%).

The majority of CFOs also report that driving sustainability projects has a positive impact on both financial reporting (74%) and tax matters (54%)

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The survey suggests widespread CFO involvement in environmental initiatives could signal a shift occurring within a greater number of organizations.

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