The simultaneous global crises of climate change, global pandemics, geopolitics and racial and social injustices continue to wreak havoc on the business landscape. Events like these are a stark reminder of just how much work we must do to build a better, more resilient planet for all.

Leaders today have a once-in-a-generation opportunity to pivot their businesses to a more sustainable future. This isn’t just about making net-zero promises. While environmental goals are an important part of the story, they are not the whole story, because sustainable business spans the full range of the U.N.’s Sustainable Development Goals, covering everything from DE&I and health to economic growth and addressing poverty.

We now have clear data to show that thinking about both shareholders and stakeholders are not opposing goals. In fact, sustainability action unlocks sizable business opportunities.

Recent research found that taking societal impact into account when setting business strategy spurs innovation and helps companies identify new products, services and business models. According to another survey, millennials are 5.3 times more likely to stay with an employer when they have a strong connection to their employer’s purpose. And sustainability is becoming an increasingly influential factor in corporate investment. For example, The CFA Institute found that 75% of investment leaders expect ESG factors to become more influential.

The Risks of Doing Nothing Are Significant

Organizations lacking a stated and credible commitment to sustainability will lose market share, talent, and brand identity to their competitors. Revenues will fall, expenses will rise and shareholders will eventually revolt.

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