Nearly three-quarters of business leaders (74%) allocate a portion of their organisation’s annual revenue or profits towards sustainability initiatives, and more than four in five business leaders (27% strongly agree, 59% somewhat agree) and employees (17% strongly agree and 70% somewhat agree) agree that integrating sustainability into the organisation’s business strategy provides competitive advantage in the industry. A shift in responsibility is observed, where 45% of business leaders believe that a dedicated sustainability committee should be the key driver for implementing sustainability initiatives, as compared to 59% believing the strategy team should hold the responsibility as reported in NTUC LearningHub’s Special Report on Sustainability 2022. Advancing sustainability is viewed as a collective effort by both business leaders and employees. Most employees (29% strongly agree, 64% somewhat agree) agree that all employees have a role in contributing to their organisation’s sustainability goals, and majority of business leaders (21% strongly agree, 67% somewhat agree) agree that all employees should receive basic training in sustainability, regardless of their role. Certifications in sustainability are essential, with about 4 in 5 business leaders (13% likely, 66% somewhat likely) inclined to hire talent with an industry-recognised certification, even if they are not in the sustainability field.
SINGAPORE, Oct. 10, 2024 /PRNewswire/ — Once considered optional, sustainability has become a critical business imperative and a fundamental element of having a competitive advantage, with more than four in five business leaders (27% strongly agree, 59% somewhat agree) and employees (17% strongly agree and 70% somewhat agree) agreeing that integrating sustainability into the organisation’s business strategy provides a competitive advantage in the industry. Also, nearly three-quarters (74%) of business leaders now allocate a portion of their organisation’s annual revenue or profits towards sustainability initiatives.
A shift in responsibility for implementing sustainability initiatives is observed, with nearly half (45%) of business leaders now believing that this responsibility lies primarily with a dedicated sustainability committee, compared to findings from NTUC LearningHub’s Special Report on Sustainability 2022, where nearly three out of five business leaders (59%) viewed that the strategy team should be responsible for advancing sustainability within their organisation. Additionally, to address evolving sustainability requirements and ensure compliance, business leaders report that they are regularly updating sustainability policies and procedures (39%), appointing dedicated teams to oversee sustainability efforts (37%), and conducting regular internal and external sustainability audits and assessments (34%). This is accompanied by efforts to train workers to meet these evolving sustainability demands (37%) and implement green procurement policies (34%).
Sustainability is now a critical business imperative, with nearly three-quarters of leaders allocating annual revenue or profits to sustainable initiatives
These are some of the key findings from NTUC LearningHub’s Sustainability for Business Resilience Report 2024, which explores sustainability as a business imperative, the current state of sustainability efforts in organisations, and the critical role of training and certifications. Based on a survey of over 150 business leaders and 350 full-time working professionals, the report also highlights the in-demand job roles and skills that shape career progression and strengthen business resilience.
Businesses recognise the value of partnerships in addressing emerging sustainability trends. Half of business leaders (51%) cite collaboration with suppliers and stakeholders to share best practices as a key approach, followed by fostering a sustainability culture within the organisation (50%), ensuring transparency with all employees on sustainability plans and efforts (45%), promoting continuous learning and development for the workforce (40%), and adopting new technologies and innovations for sustainability (32%).
Advancing sustainability is also seen as a collective effort by both business leaders and employees. Majority of employees (29% strongly agree, 64% somewhat agree) believe that all employees have a role in contributing to their organisation’s sustainability goals. Similarly, most business leaders (21% strongly agree, 67% somewhat agree) believe that all employees should receive basic training in sustainability, regardless of their role.
In fact, certifications in sustainability are seen as essential, with about four in five business leaders (13% likely, 66% somewhat likely) inclined to hire talent with an industry-recognised certification, even if the candidate is not in the sustainability field. Employees share similar sentiments, with about three in four employees (11% strongly agree, 67% somewhat agree) believing that a certification in sustainability would enhance their career prospects. Furthermore, more than four in five employees (13% strongly agree, 71% somewhat agree) agree that adding sustainability skills to their existing technical abilities would significantly improve their career prospects.
Commenting on the report findings, Tay Ee Learn, Chief Sector Skills Officer, NTUC LearningHub, says, "The report highlights encouraging progress in sustainability adoption, with a growing recognition among business leaders of its importance as a competitive advantage. Many organisations are already investing in sustainability initiatives, but there is an opportunity to unlock even greater long-term value by deepening these commitments. By establishing dedicated sustainability teams and integrating sustainability into core business strategies, companies can drive more impactful outcomes. Setting clear, measurable sustainability goals will ensure organisations stay on track and align with their broader objectives. The report also highlights the pivotal role of training and certifications in equipping workers with the skills needed to achieve sustainability goals, ultimately boosting both individual career growth and the resilience of businesses as they navigate a rapidly evolving landscape."
To download the Sustainability for Business Resilience Report 2024, please visit www.ntuclearninghub.com/media/research-reports/2024/sustainability. To find out more about the courses, training, and grants, please contact NTUC LearningHub at www.ntuclearninghub.com.
About NTUC LearningHub
NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Infocomm Technology, Generative AI & Cloud, Healthcare, Retail & Food Services, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources & Coaching and Foreign Workers Training.
To date, NTUC LearningHub has helped over 29,000 organisations and achieved more than 2.6 million training places across more than 2,900 courses with a pool of about 900 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships to offer a wide range of relevant end-to-end training. Besides in-person training, we also offer instructor-led virtual live classes (VLCs) and asynchronous online learning. The NTUC LearningHub Learning eXperience Platform (LXP) — a one-stop online learning mobile application — offers timely, bite-sized and quality content for learners to upskill anytime and anywhere. Beyond learning, LXP also serves as a platform for jobs and skills development for both workers and companies.
For more information, visit www.ntuclearninghub.com.
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