Submitted by: Pamela Watters 07/20/2014
Industry working to make environmental practice an integral part of the business for investors and consumers
VANCOUVER, July 15, 2014 — Over 92 per cent of global forestry CEOs think it’s important to reduce their environmental footprint, according to PwC’s 17th Annual Global CEO Survey. But they can’t do it alone. To make sustainability a success, the world’s forest, paper and packaging (FPP) companies need to reduce costs and investment risks, while also increasing goodwill among consumers who are becoming more environmentally conscious in their spending choices.
This theme was the focus of a round table discussion between FPP executives from the Americas, Europe and China.
“When we think of forestry and what are the external drivers for change, it used to be NGOs, but what’s really driving it now are consumers,” says James Griffiths of the World Business Council for Sustainable Development.
“Good business and sustainability go hand-in-hand,” says Bruce McIntyre, partner and leader of PwC’s FPP practice in Canada. “The forest sector needs the support of suppliers and stakeholders to measure and benchmark performance across the supply chain.”
The FPP Industry now invests more than ever in areas of environmental, social and corporate governance. However, the investment community has been slow to recognize the value of this commitment. The reality is that decision on where to put money are still based on the bottom line.
“Quite honestly, for a majority of investors, if it doesn’t hurt the bottom line, good, but if it hurts the bottom line too much they’re probably not going to be all that interested,” says Gail Glazerman, Executive Director from UBS Investment Research.
Details about the FPP industry’s ongoing efforts in sustainability are included in our latest release Building for the future: Global strategies for sustainable success.
About PwC’s 17th Annual Global CEO Survey
For its 17th Annual Global CEO Survey titled ‘Fit for the future: Capitalising on global trends’, PwC surveyed 1,344 business leaders across 68 countries around the world in the last quarter of 2013 and conducted further in-depth interviews with 34 CEOs. For the data presented on the Forest, Paper and packaging sector, we took a closer look at responses from 52 CEO interviews, conducted in 24 countries around the world.
About PwC Canada
PwC Canada helps organizations and individuals create the value they’re looking for. More than 5,700 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 180,000 people in 158 countries. Find out more by visiting us at www.pwc.com/ca.