'Green' initiatives see red in economic uncertainty

LOS ANGELES, USA: A majority of executives (69 per cent) believed that "green" initiatives would take a back seat to profit-driven activities in today’s uncertain economic times, a survey revealed.

However, 29 per cent believed that the current economic situation would not affect "going green," according to the latest Executive Quiz from Korn/Ferry International.

The survey interviewed respondents from more than 50 countries, representing a wide spectrum of industries and functional areas.

More than three-quarters of the executives (78 per cent) interviewed considered their employer at least "somewhat" environmentally sensitive, while another 18 per cent thought otherwise.

When asked about current resources their employers had dedicated to "green" issues, almost half (49 per cent) of executives report that their companies had allocated existing staff, hired new staff, or done both.

This often included introducing Chief Sustainability Officers into the C-suite.

Fifty per cent of executives who responded said their company had not allocated any resources to sustainability efforts.

Close to three-quarters of executives (73 per cent) were willing to sacrifice at least one per cent of their salaries to fund their companies' "green" initiatives.

The greatest number of respondents (40 per cent) would be willing to forgo between one and two per cent of their salaries, the survey found. Though a small minority, three per cent of respondents would be willing to sacrifice upwards of 10 per cent of their salaries.

Meanwhile, more than one-quarter (27 per cent) of executives would be unwilling to sacrifice any portion of their salary to support sustainability efforts.

"Clearly, the high number of executives willing to personally contribute to their company's green initiatives signals a change in thinking around the importance of sustainability today," said Jay Millen, senior client partner with Korn/Ferry International.

"While there is room for much progress, we are seeing companies dedicate top talent and resources to promoting sustainability and corporate responsibility," he added.