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How EY can help
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EY Long-term value teams can help you shape your strategy, drive transformation and measure progress in providing sustainable value through use of the WEF-IBC’s common metrics. EY leading role in developing the metrics means we’re uniquely placed to advise on their adoption and impact.
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A more robust articulation of long-term value potential, backed by a credible business case, is required to build support for sustainability investments that would increase market share, reduce cost of capital, boost net promoter scores and increase employee engagement and productivity.
Sustainability will always come under close scrutiny when it comes to the value case. While companies might struggle to articulate a business case for major digital investments, sustainability is still perceived as delivering a “greater good.” A digital investment, in contrast, is perceived as directly benefiting the company and attracts less attention if there is no robust business case.
Boards play a critical role in shifting this thinking and some of the misconceptions that are still attached to putting long-term value frameworks in place. Those that resist the development of metrics point to complexity or a lack of data. However, this can be overcome if boards set the expectation that it can and must be done. In short, boards need to reinforce a company culture where sustainability is seen as mission-critical.