Executives at leading fashion and retail companies say “more regulation will be needed” to deliver change around sustainability issues, a poll by Odgers Berndtson has revealed.
Four out of 10 top bosses polled said pressure to grow sales and maintain competitive prices were the “biggest single obstacle” to their businesses becoming more sustainable.
The leadership poll, conducted in July, showed a large number of senior executives working in fashion and retail are struggling to deliver “greater sustainability”. However, 94% said their companies do have a strategy in place to deal with the issue.
Odgers Berndtson head of fashion and luxury Catherine Broome said: “Senior executives don’t need convincing about the importance of embracing sustainability, but it is difficult and counterintuitive to implement initiatives that negatively impact profit, even in the short term.”
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