Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Economic climate holding back sustainability strategy for seven-in-ten manufacturers

by November 21, 2022
November 21, 2022
Economic climate holding back sustainability strategy for seven-in-ten manufacturers

Almost seventy per cent of manufacturing decision makers agree that their sustainability strategy has been restricted due to cost pressures.

The stalling of progress in green initiatives is also revealed by 72% of respondents saying that less than 50% of the materials used in the manufacturing process are sustainable, while an even higher percentage state that less than 50% is currently powered by renewable energy.

There is also room for improvement when it comes to progress in sustainable initiatives, with less than half of organisations focusing on waste reduction, improving efficiency and a reduction in power usage, with the latter most likely driven by rising energy costs. This is despite confidence among decision makers that their business will play a role in the global drive for net zero carbon emissions.

Rising economic pressure will likely extend beyond impacting sustainability and also push organisations towards a reshoring strategy. In fact, almost four-in-ten are planning to bring their operations back to their original country, with increased costs associated with maintaining operations across several countries and transporting goods across long distances likely to be playing a role.

While only 12% currently cite a reduction in needed transportation as a sustainability strategy, this will likely increase as reshoring gains in popularity. The need to reshore will also escalate as decision makers identify supply chain issues and the challenging economic environment as the biggest challenges.

However, organisations need to ensure that sustainability stays front-of-mind, as decision makers state that employees are holding greater power in driving sustainability strategies.

“The challenging economic climate is presenting a blocker to green strategies for many manufacturers. However, decision makers can’t put sustainability on the backburner, with net zero targets and employee demand dictating its importance. To confidently move forward, technology such as simulation software can allow organisations to reduce waste, optimise floor layouts and enable communication of plans to colleagues remotely, bringing down emissions,” said Mikko Urho, CEO, at Visual Components, who commissioned the research.

Read more:
Economic climate holding back sustainability strategy for seven-in-ten manufacturers

0
FacebookTwitterGoogle +Pinterest
previous post
Labour shortages are holding Britain back, CBI to tell Sunak
next post
Twitter has ‘50% chance’ of major crash during World Cup

You may also like

Court to decide if Elliott-owned firm can enforce...

February 4, 2025

King’s Coronation to give UK SMEs a £180m...

May 3, 2023

NatWest limits cryptocurrency transfers over scam fears

March 15, 2023

To ISA or Not to ISA: Should You...

November 11, 2024

Britain Should Celebrate the Wealthy – Not Tax...

June 10, 2024

UK Christmas shoppers urged to return to high...

December 13, 2022

Q&A with Senior Helpers Glen and Michelle Scharfeld

August 31, 2024

Government accused of prolonging rail workers dispute as...

October 12, 2022

Three Keys to Finding the Right Asset Tracking...

March 7, 2023

Hire Space forecasts thousands of hours’ worth of...

June 15, 2023

Court to decide if Elliott-owned firm can enforce...

February 4, 2025

King’s Coronation to give UK SMEs a £180m...

May 3, 2023

NatWest limits cryptocurrency transfers over scam fears

March 15, 2023

To ISA or Not to ISA: Should You...

November 11, 2024

Britain Should Celebrate the Wealthy – Not Tax...

June 10, 2024

UK Christmas shoppers urged to return to high...

December 13, 2022

Q&A with Senior Helpers Glen and Michelle Scharfeld

August 31, 2024

Government accused of prolonging rail workers dispute as...

October 12, 2022

Three Keys to Finding the Right Asset Tracking...

March 7, 2023

Hire Space forecasts thousands of hours’ worth of...

June 15, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Civil rights group declares ‘state of emergency,’ pointing at Trump admin

      July 17, 2025
    • SCOOP: House fiscal hawks warily accept Senate’s $9B Trump spending cuts package

      July 17, 2025
    • Two Republicans vote against Trump’s $9 billion clawback of foreign aid, NPR funding

      July 17, 2025
    • What Startups Can Learn From Today’s Leading Online Entertainment Platforms

      July 17, 2025
    • RGTI Stock Surged 30% — Is This the Start of a Quantum Comeback?

      July 17, 2025
    • Three Bearish Candle Patterns Every Investor Should Know

      July 17, 2025

    Categories

    • Business (8,509)
    • Investing (2,127)
    • Politics (16,085)
    • Stocks (3,216)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved