Danish companies are not downplaying their sustainable ambitions, even though the EU wants to simplify the requirements for ESG reporting. This is evident from a new survey that Voxmeter has conducted for Sydbank among 400 companies with between 10 and 499 employees.
81 percent of the companies view the relaxed requirements positively, but they also plan to strengthen their work on sustainability. According to the survey, 46 percent believe that it strengthens their competitiveness, and 65 percent plan to invest in green initiatives within three years.
- Our survey clearly indicates that Danish companies have not abandoned the sustainable agenda. On the contrary, the resources that are now freed up from reporting tasks can be channeled into concrete initiatives that promote the green transition and other relevant ESG measures, says Morten Laugesen, a business economist at Sydbank.
Industrial companies in particular highlight sustainability as a competitive advantage, while fewer in the transport industry share this view. The industry is characterized by fierce price competition, which may explain the difference, according to the analysis.
- Many companies find that it can be good business to prioritize sustainability. This is partly because a green profile can strengthen the company's reputation towards customers, employees and other stakeholders, says Morten Laugesen.
Ready to invest
Danish business is well underway with the green transition, and this development appears to continue. As many as 65 percent of the companies in the survey plan to invest in initiatives that can reduce the company's energy consumption and CO2 emissions within the next three years.
- It is positive that Danish companies prioritize green investments, even though trade wars and geopolitical uncertainty create uncertain market conditions, says Morten Laugesen.
The companies' investment plans in the green area include a number of different initiatives. For example, many industrial companies expect to invest in solar cells and energy-efficient machines, while many companies in the construction industry plan to invest in electric cars.
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