Majority of businesses that have ESG programme report higher profits: study

Over 50% said having such a programme improved their performance.

After creating a formal environment, social, and governance (ESG) programme, six in 10 of businesses said they garnered higher profits in 2022, Vodafone Business showed in its latest study.

Its findings also showed that 50% of Singapore businesses said ESG improved their financial status, which is higher than APAC and global average with 40% and 37%, respectively.

More than four in 10 businesses said customers are more demanding in sustainability.

Only three in 10 Singapore businesses agreed that customers are willing to pay more for eco-friendly products and services.

Vodafone’s research consisted of 31 interviews with business decision makers, investors and journalists. The research was also composed of 3,101 businesses polled through a 15-minute quantitative survey across 15 different markets in Australia, China, Germany, Spain, Ireland, India, Italy, Netherlands, Portugal, Romania, Singapore, South Africa, UAE, UK, and US.