An important part of corporate sustainability initiatives, beyond the glow of environmental and energy strategies, is employee and community engagement. Many businesses have found that doing good things in the communities they serve is not only good for their image but numerous studies have shown it also increases worker productivity and makes communities more sustainable. Connecticut has many companies that do this on a regular basis and recently several CBIA members received national recognition for their huge commitment to civic engagement. [Read more...]
Ernst & Young LLP survey finds that due to lack of collaboration between tax and sustainability departments, companies missing key financial opportunities
There’s a lot of talk about the other green of sustainability – financial savings. However, a recent survey from CBIA member Ernst & Young LLP found that many companies might be missing opportunities, as tax departments and sustainability programs lack integration. Only 16% of companies that either have or are developing an environmental sustainability strategy said their tax or finance departments are actively involved in it, according to the survey entitled Working Together: Linking sustainability and tax to reduce the cost of implementing sustainability initiatives .
The survey included responses from 223 senior executives at companies predominantly in the United States. Of the survey respondents, 19% were Chief Sustainability Officer (CSOs), while 81% were tax directors or their equivalent. Responses from each group were vastly different, highlighting the lack of coordination between the two groups. For example, only 28% of tax directors believe their company has a sustainability strategy or is developing one, compared to 90% of CSOs surveyed.
The survey, entitled Working Together: Linking sustainability and tax to reduce the cost of implementing sustainability initiatives can be accessed by visiting Ernst & Young’s web site here (pdf).