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Survey: 40% of US companies allocate specific budget for sustainability
A survey – conducted by EcoOnline, a leading SaaS technology company for chemical safety, EHS and ESG – said 40% of US companies have a specific budget dedicated to sustainability, while 25% of companies are working within their current budgets.
The survey aimed to assess the awareness and preparation around climate legislation in California among U.S. companies with revenues exceeding $500 million.
EcoOnline’s recent survey, conducted through Computer-Assisted Telephone Interviewing (CATI), provides an in-depth look at corporate America’s readiness for these laws and the steps they are taking to comply.
The survey showed that over 80% of companies are proactively building net-zero programs, with none waiting for legislation to be enacted before building a sustainability program or team.
About 73% of respondents view sustainability as a way to drive revenue growth, with 94% seeing it as a means to increase brand value.
For 40% of respondents, the CEO or board is leading sustainability efforts or being held accountable for them.
Nearly 85% of respondents plan to increase their sustainability budgets within the next three years. However, only 25% of companies have specific budgets fully funded and prioritized by the C-Suite and board.
About 84% of respondents plan to deploy dedicated or purpose-built sustainability software to comply with legislation.
“Our survey highlights a critical tipping point where U.S. companies are boldly moving beyond reactive compliance and penalty avoidance, embracing sustainability as a powerful engine for growth,” said Tom Goodmanson, CEO of EcoOnline. “While they are committed to these initiatives, the specifics of how they will achieve their goals remain uncertain. This underscores the need for clear strategies and robust technology solutions to navigate the evolving regulatory landscape and drive meaningful impact.”
“Businesses that integrate sustainability into their core values and operations can future-proof against evolving market trends and regulations,” said a Sustainability Manager from a $1B+ revenue company.
“Software solutions that automate the collection, analysis and reporting of environmental, social and governance data can help us comply with regulations, meet investor expectations, and communicate our sustainability performance more effectively,” commented a Director, Environmental, Health & Safety.
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