| of all company chairmen in Poland have introduced or consider introducing changes in their organizational objectives to better demonstrate their role in society (similarly, 43% globally, 63% in Central and Eastern Europe)* | |
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of Polish business leaders plan to increase investment in sustainable development and ESG initiatives over the next three years (similarly, 60% globally, 43% in Central and Eastern Europe)*
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of business leaders in Poland admit that climate change and environmental damage are included in their risk management strategy (40% globally)*
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of Poles admit that ecology and caring for the environment is important to them even during a pandemic**
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of respondents, despite the difficulties related to the current situation, declare that they still behave in a responsible manner that supports taking care of the environment**
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Sustainable development vs entrepreneurs’ prospects
ESG is becoming increasingly important for Polish consumers. PwC’s report “A new image of the Polish consumer 2020” shows that ¾ of Poles, despite the difficulties related to the pandemic, declare that they still act in a responsible way, and continue to take care of the environment. Environmental awareness and willingness to actively counteract climate change is becoming increasingly important for future and current labour market participants and consumers in Poland.
Acting on behalf of sustainable development and limiting the negative impact on the environment and climate is becoming an element of corporate strategy. The PwC “CEO Survey 2021” shows that 71% of company chairmen in Poland (65% from the CEE region) are concerned about climate change and environmental damage. This sense of threat and general concern for the environment does not always translate into concrete actions and investments – only 35% of business leaders in Poland plan to increase investment in sustainability initiatives in connection with COVID-19 (44% in CEE), and only 22% admit that climate change and environmental damage are already included in their risk management strategy. Therefore, we can see increased awareness but this does not always translate into concrete actions and investments.
ESG in the retail and consumer goods sector
Companies in the retail and consumer goods sector are not indifferent to ESG issues. On the contrary, having brands based on sustainable development is a response to the needs of customers, for whom environmental and social issues are becoming increasingly important. When companies take actions such as reducing their carbon footprint, reducing water consumption or verifying the supply chain in terms of the origination of raw materials, it can have a positive impact on sales and operating results..
The importance of companies’ long-term, sustainable business models is also increasingly emphasized by investors. The non-financial reports covering environmental, social responsibility and corporate governance issues are the basic measure of such activities. Preparing such reporting will involve valuing the company, obtaining finance on attractive terms and conditions or reaching out to investors and customers. Given the changing regulations, social norms and consumer attitudes, the need to consider and incorporate sustainability into a company’s basic strategy has never been as important as it is now.
Engaging in initiatives that support green transformation has clearly become a goal for PwC. Achieving net zero greenhouse gas emissions by 2030 is a global commitment that we are determined to fulfil, as well as support our clients through the challenging path to green transformation.
Change leaders are taking a holistic and long-term approach to reducing their carbon-footprint by taking every aspect of their business into consideration, and firms with extensive networks of relationships are also often trying to influence the actions of their business partners and suppliers to make them ESG compliant. It is mainly foreign firms that are active in the area and that introduce changes in the field of ESG, but Polish ones have also started to explore the topic more deeply.
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