Sustainability takes an important step forward in Latin American companies

Sustainability takes an important step forward in Latin American companies

This is revealed by a second study sponsored by SAP among more than 400 companies in the region. In just one year, the figure grew significantly to 69% from 46% in 2021.

A total of 69% of senior executives of medium and large companies in Argentina, Brazil, Colombia and Mexico declared that they already have a sustainability strategy in their organizations, a notable growth with respect to the figure registered in 2021, which had reached 46%. 

This is one of the conclusions revealed by the second edition of the study Sustainability in the Latin American Leadership Agenda, sponsored by SAP and which consulted 410 regional leaders. 

The trend continues to rise: 30% admitted having added more pillars related to the UN Sustainable Development Goals during the last 12 months, while 15% say they have managed to put into practice the sustainability initiatives proposed during the year previous. 

In addition, 40% expect to increase investment in the topic in 2022 compared to 2021 and 51% plan to maintain their efforts. 

Cristina Palmaka, President of SAP Latin America and the Caribbean, said: “This new study also makes it very clear to us that when profitability and sustainability are on the same page they are a very powerful combination: both can be done simultaneously and consumers and investors alike are leaning towards choosing environmentally responsible companies.  

“Today more than ever, companies that take into account the triple bottom line – people, planet and income – will have more advantages and will be more successful in an increasingly competitive and globalized economy.” 

Diversity and inclusion function as one of the main entrances to the world of sustainability: 63% consider it among their plans. They are followed by socially responsible value chains (53%), the prepared workforce and actions related to carbon footprint emissions (both with 45%) and the circular economy (32%). 

In any of the cases, 39% of those consulted indicate that they have already begun to see the results of their sustainability actions and 29% expect to see them during the course of 2022. 

“A great cultural leap is that companies no longer do this just for a reputation issue, but also to fulfilll their purpose as responsible companies,” said Pedro Pereira, Chief Sustainability Officer of SAP Latin America and the Caribbean. 

“There are still many challenges ahead and there is an urgent need for companies around the world to take action, especially those related to the environment, but the progress that has been made in just 12 months invites us to be very optimistic.” 

According to IDC estimates, the continued adoption of cloud solutions can prevent the emission of more than 12 million metric tons of carbon dioxide in the region between 2021 and 2024. This is further proof that the technology is not just a big ally to generate sustainable impact, but it is also a great promoter and support to manage sustainability. 

Another important fact from the study reports that 71% already use some type of technology to manage and show results related to sustainable actions. 

“We want to help our customers become more sustainable. We have a portfolio of sustainability solutions to help companies incorporate operational, experiential, and financial information and data to drive sustainability at scale in Latin America,” said Pereira.

One of SAP’s goals is to generate positive economic, environmental and social impact for the planet, with a special focus on climate action, the circular economy, social impact and integrated reporting.

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