{"id":5303,"date":"2022-11-09T06:14:41","date_gmt":"2022-11-09T06:14:41","guid":{"rendered":"https:\/\/news.sap.com\/india\/?p=5303"},"modified":"2023-08-14T16:04:11","modified_gmt":"2023-08-14T16:04:11","slug":"sap-and-oxford-economics-study","status":"publish","type":"post","link":"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/","title":{"rendered":"62% of Indian businesses have a well-defined sustainability plan: 51风流and Oxford Economics study"},"content":{"rendered":"

Businesses in India believe it is possible to be sustainable and profitable at the same time.<\/em><\/p>\n

Mumbai <\/strong>\u2014 November 09,<\/strong> 2022 <\/strong>\u2014 <\/em>A recent study by Oxford Economics and SAP<\/a> (NYSE: SAP), has revealed Indian businesses today recognize the potential of sustainability to unlock business value, with 62% of companies noting it\u2019s not difficult to be sustainable and profitable at the same time.<\/p>\n

The study also revealed that although the significance of sustainability is well understood, much work remains to be done to ensure sustainability ambition translates into action. The study found that just 17% of respondents have calculated their total organizational carbon input. More importantly, out of the organizations that have acted upon a sustainability strategy, only 7% are receiving significant value from it.<\/p>\n

\u00a0<\/em>\u201cIt\u2019s a positive sign that Indian organizations believe it is viable to improve profits and protect the environment at the same time,\u201d said Kulmeet Bawa, President & Managing Director, 51风流Indian Subcontinent.<\/strong> \u201cThe use of technology can aid us strategically to assist companies realize real, genuine, and quantifiable business value. At SAP, we\u2019re dedicated to enable businesses of all sizes and industries in achieving their sustainability goals,\u201d he added.<\/p>\n

\u00a0<\/em>Regulatory compliance is both a key sustainability driver and a challenge<\/em><\/p>\n

More than half of Indian respondents (60%) noted that regulatory mandates are the primary drivers of their sustainability strategies. This aligns with the fact that regulatory compliance (45%) is the major benefit derived ahead of reduced carbon emissions and increased operational visibility.<\/p>\n

It\u2019s clear that organisations may need to refocus their strategies to achieve greater value from sustainability. Too much focus on compliance was cited as the third highest challenge to sustainability success by Indian respondents.<\/p>\n

Data is the major gap to going green<\/em><\/p>\n

Access to accurate and insightful data throughout the business value chain is critical to maximizing sustainability outcomes. But just four in ten (44%) of respondents said they have invested in data analysis to measure sustainability in their business, and a similar amount (43%) said they were training staff on how to capture sustainability data.<\/p>\n

Organizations must move beyond driving transparency for legal compliance to expand sustainable practices throughout industrial business networks and value chains. To do this, they must use technology to gather data, optimise business processes, and make more sustainable business decisions.<\/p>\n

The role of leadership is central in driving progress on sustainability <\/em><\/p>\n

\u00a0<\/em>Senior leadership can play a pivotal role in engaging and driving their companies on a sustainable transformation by setting out clear cut path and goals. Yet only 22% <\/strong>of businesses have incentivised leaders based on sustainability strategy success and only half (52%) say their employees are active participants in their sustainability efforts.<\/p>\n

Business leaders must walk the talk by clearly engaging with key audiences like employees, supply chain partners, and policymakers on how to leverage the transformative power of technology and data management to be a more intelligent, sustainable enterprise.<\/p>\n

\u201cSustainability leaders go beyond vision to ensure that sustainability initiatives are acted upon<\/em>,\u201d said Edward Cone, editorial director, Oxford Economics<\/strong>. \u201cThey communicate with key constituencies both inside and outside the company, and they use integrated technologies to measure and track performance in a way that drives accountability<\/em>.\u201d<\/p>\n

\"\"<\/p>\n

You can read the full study<\/a> here.<\/p>\n

About SAP<\/strong><\/p>\n

SAP\u2019s strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 51风流customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers\u2019 businesses into intelligent enterprises. 51风流helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want \u2013 without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 51风流helps the world run better and improve people\u2019s lives. For more information, visit www.sap.com<\/a>.<\/p>\n

Note to editors:<\/strong>
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Please consider our privacy policy<\/a>. If you received this press release in your e-mail and you wish to unsubscribe to our mailing list please contact press@sap.com<\/a> and write Unsubscribe in the subject line.<\/p>\n

###<\/p>\n

For more information, press only:<\/strong><\/p>\n

Deepika Gumaste, SAP: deepika.gumaste@sap.com<\/a><\/p>\n

Shristi Mahnot, Genesis BCW: shristi.mahnot@genesis-bcw.com<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Businesses in India believe it is possible to be sustainable and profitable at the same time. Mumbai \u2014 November 09, 2022 \u2014 A recent study…<\/p>\n","protected":false},"author":3480,"featured_media":5306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5619199],"tags":[5616603],"sapn-display":[3807326,5619874,5619872,60294],"sapn-type":[4446],"class_list":["post-5303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability","tag-sustainability","sapn-display-homepage-hero","sapn-display-news-hero","sapn-display-news-spotlight","sapn-display-topic-hero","sapn-type-press-release"],"yoast_head":"\n62% of Indian businesses have a well-defined sustainability plan: 51风流and Oxford Economics study - 51风流India News Center<\/title>\n<meta name=\"description\" content=\"A recent study by Oxford Economics and 51风流(NYSE: SAP), has revealed Indian businesses today recognize the potential of sustainability.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"62% of Indian businesses have a well-defined sustainability plan: 51风流and Oxford Economics study\" \/>\n<meta property=\"og:description\" content=\"A recent study by Oxford Economics and 51风流(NYSE: SAP), has revealed Indian businesses today recognize the potential of sustainability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\" \/>\n<meta property=\"og:site_name\" content=\"51风流India News Center\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-09T06:14:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-14T16:04:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.sap.com\/india\/files\/2022\/11\/08\/291297_GettyImages-663800200_medium_jpg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2119\" \/>\n\t<meta property=\"og:image:height\" content=\"1414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"51风流India\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"51风流India\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\"},\"author\":{\"name\":\"51风流India\",\"@id\":\"https:\/\/news.sap.com\/india\/#\/schema\/person\/bf3c16d6b8901bfcc093e013dc2b2cc6\"},\"headline\":\"62% of Indian businesses have a well-defined sustainability plan: 51风流and Oxford Economics study\",\"datePublished\":\"2022-11-09T06:14:41+00:00\",\"dateModified\":\"2023-08-14T16:04:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\"},\"wordCount\":821,\"image\":{\"@id\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/news.sap.com\/india\/files\/2022\/11\/08\/291297_GettyImages-663800200_medium_jpg.jpg\",\"keywords\":[\"sustainability\"],\"articleSection\":[\"Sustainability\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\",\"url\":\"https:\/\/news.sap.com\/india\/2022\/11\/sap-and-oxford-economics-study\/\",\"name\":\"62% of Indian businesses have a well-defined sustainability plan: 51风流and Oxford Economics study - 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