Six in 10 businesses who created a formal ESG programme stated they had higher profits in 2022, according to a Vodafone Business study.
The study consisted of 31 interviews with business decision makers, journalists, and investors. It was made up of 3,101 businesses polled through a qualitative survey across 15 markets in Ireland, India, Italy, Netherlands, Australia, China, Germany, Spain, Portugal, Romania, UAE, UK, Singapore, South Africa, and the US.
Additionally, the study findings showed that 50% of Singapore businesses said that having an ESG helped their financial status. This is higher than APAC (47%) and global average (37%.)
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Customers are also now demanding sustainability, said more than 4 in 10 businesses. Meanwhile, only 3 in 10 businesses in Singapore stated that customers are willing to pay more for eco-friendly services and products.
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