Businesses fail to meet public expectations on environment and social responsibility poll shows

Businesses’ views of their environmental and social responsibilities fall significantly short of public expectations according to a recent poll.

The survey by YouGov found that half of all senior business decision makers surveyed said they had no net zero strategy whilst 74% of British adults surveyed say that businesses should have one.

It found also that 30% of business leaders said that their purpose was to generate profit over sustainability. Yet 25% of respondents from the public said a business’ purpose should be to make a positive impact on society with another 42% of British adults saying businesses should balance profit with social and environmental justice.

Professor Ian Thomson, director of the Lloyds Banking Group Centre for Responsible Business which commissioned the survey, cast the findings in the context of growing social inequality and ambitions to reach net zero emissions by 2050. “Our survey shows that the British public expects and believes that businesses should be taking an active role in combatting these issues,” he said.

Yet the survey findings showed this pressure may have little impact said Thomson. He contrasted a widespread public view that consumer boycotts might influence businesses’ outlook with just 7% of businesses saying boycotts would make them more sustainable. “These findings show that the public greatly overestimates its power to influence change in businesses behaviour.”

Thompson said very few businesses were taking radical steps towards become more sustainable and only larger business were making incremental changes Small businesses he said, largely see engaging on social justice and environmental issues as a luxury that only big business can afford.