WSJ.COMPROSUSTAINABLEBUSINESS
Sustainable Business
Survey Report 2023
Visit us online at
www.wsj.com/pro/sustainable-business
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PHOTOCREDITS Cover: Thomas R. Lechleiter/The Wall Street Journal
WSJ Pro Research 2023 Sustainable
Business Survey Methodology
For the second
year, WSJ Pro Research sustainable business surveyed
readers who are either directly, or among those
responsible for sustainability in their organization. We received 247 responses.
The results are grouped according to annual revenue, as provided by respondents, and
show a relatively even distribution with 33% of responses frombusinesses with annual
revenue of up to $10 million; 32% from mid-sized businesses with revenue between $10
million and $1 billion and 35% from large companies with revenue over $1 billion.
Fifty-six percent of responses came from private companies, 28% came from public
companies and the remainder came from nonprofits, governmentagencies and others.
The survey was sent to readers and subscribers of The Wall Street Journal and WSJ
Pro between April and May. We oer a comparison with the 2022 data for instances
in which identical questions were asked in the first and second surveys.
2 Copyright © 2023 by Dow Jones & Company, Inc.
What is your current employment status?
To what extent are you responsible for sustainability at
your place of work?
Employed (Full-time/Part-time) Self-Employed/Consultant
0
10
20
30
40
50
60
70
80%
76%
24%
42%
37%
3%
17%
I am one of a number of people responsible for
sustainability at my place of work
I have overall responsibility for
sustainability at my place of work
I am not responsible for sustainability at my work,
but have an interest in the topic
Other
0% 51015202530354045
Visit us online at
www.wsj.com/pro/sustainable-business
Copyright © 2023 by Dow Jones & Company, Inc. 3
SUSTAINABLE BUSINESS SURVEY REPORT 2023
What is the title of the leader in your organization
responsible for sustainability?
Who does the leader in your organization responsible for
sustainability individual report to?
Our organization does not have a
dedicated sustainability leader
Other C-level Sustainability or ESG position
Chief Sustainability Officer
VP-level Sustainability or ESG position
Director-level Sustainability or ESG position
Manager-level Sustainability of ESG position
0% 510152025303
54
0
34%
16%
15%
14%
13%
8%
Chief Executive Officer
Company Board
Chief Operating Officer
Chief Strategy Officer
Chief Financial Officer
General Counsel / Chief Legal Officer
Chief Communications Officer
Chief Risk Officer
Chief Compliance Officer
Chief Information Officer
Chief Technology Officer
Investor Relations
Other
0% 51015202530354
04
5
40%
15%
10%
4%
7%
4%
2%
2%
1%
1%
1%
1%
13%
4 Copyright © 2023 by Dow Jones & Company, Inc.
Which leader in your organization is ultimately
responsible for sustainability/ESG eorts?
How many of your organization’s board members have
experience in sustainability or climate change?
Chief Executive Officer
Company Board
Chief Strategy Officer
Chief Technology Officer
Chief Financial Officer
Chief Risk Officer
Chief Communications Officer
Chief Operating Officer
Other
0% 51015202530354045505
56
0
54%
12%
4%
4%
2%
2%
1%
1%
20%
31%
21%
15%
14%
19%
None 123+ Don’t know
0
5
10
15
20
25
30
35%
Copyright © 2023 by Dow Jones & Company, Inc. 5
SUSTAINABLE BUSINESS SURVEY REPORT 2023
To what extent is your sustainability program managed
internally versus using third parties?
How well would you say your sustainability program
is resourced?
The program is managed entirely in-house
The program is managed both in-house
and with external third party support
The program is managed by external third parties
0% 5101520253035404550556
06
5
60%
1%
39%
We have sufficient resources to
deliver our sustainability program
We lack resources but are still able
to make progress with our sustainability program
We are severely under-resourced
0% 5101520253035404
55
0
47%
9%
45%
6 Copyright © 2023 by Dow Jones & Company, Inc.
Thinking about the skills and experience of the team
managing your sustainability program, which of the
following most closely applies?
How many full time equivalent sta members are
dedicated to sustainability?
We lack certain skills/experience but are still able
to make progress with our sustainability program
We have the required skills/experience
to deliver our sustainability program
We have a severe lack of skills/experience
0% 510152025303540455
05
5
51%
5%
44%
< 55 - 30 30 - 45 ≥ 45
0
5
10
15
20
25
30
35
40
45
50
55
60
65%
11%
27%
3%
59%
Copyright © 2023 by Dow Jones & Company, Inc. 7
SUSTAINABLE BUSINESS SURVEY REPORT 2023
In terms of the number of in-house full time equivalent
sta members dedicated to sustainability, in the last 12
months the number of FTEs:
In terms of the number of in-house full time equivalent
sta members dedicated to sustainability, in the next 12
months the number of FTEs is expected to:
Decreased significantly
Decreased slightly
Stayed about the same
Increased slightly
Increased significantly
Don’t know
0% 51015202530354045505560
10%
22%
6%
5%
3%
53%
Decreased significantly Decreased slightly Stayed about the same Increased slightly Increased significantlyDon’t know
0
5
10
15
20
25
30
35
40
45
50
55
60%
7%
5%
27%
56%
3%
2%
8 Copyright © 2023 by Dow Jones & Company, Inc.
What issues do you commonly find while recruiting
sustainability talent?
Which of the following environmental harm reduction
areas represent the biggest reporting challenges for your
organization, if any?
Lack of availability of candidates with required skills
Candidates lack experience
We have not experienced any issues with recruiting candidates
Candidates have unrealistic salary expectations
Candidates lack formal qualifications
Candidates have multiple offers to consider
Candidates are unwilling to relocate
Candidates are unwilling to work in
centralized/shared office space
Other
0% 510152025303
54
0
6%
6%
14%
17%
19%
24%
13%
32%
37%
Greenhouse gas emissions
Climate change risk
Energy management
Waste and hazardous materials management
Water and wastewater management
Biodiversity impacts
Ecological impacts
Air quality
None of the above
Environmental remediation
0% 51015202530354
04
5
19%
21%
23%
24%
34%
37%
17%
16%
15%
41%
Copyright © 2023 by Dow Jones & Company, Inc. 9
SUSTAINABLE BUSINESS SURVEY REPORT 2023
Which of the following social and human capital topic
areas represent the biggest reporting challenges for your
organization, if any?
Which of the following leadership and governance topic
areas represent the biggest reporting challenges for your
Supply chain management
Employee engagement, diversity and inclusion
Data security
Human rights and community relations
Compensation and benefits
Customer satisfaction
Employee health and safety
Customer privacy
Labor practices
Product quality and safety
Access and affordability
Selling practices and product labeling
Customer welfare
None of the above
0% 51015202530
12%
13%
13%
13%
16%
17%
17%
17%
25%
27%
8%
6%
18%
28%
Management of the legal and regulatory environment
Systemic risk management
Competitive behavior
Policies, standards and code of conduct
Business ethics
Shareholder engagement
Critical incident risk management
Executive compensation
Lobbying and political contributions
None of the above
0% 5101520253035
13%
13%
15%
15%
17%
18%
25%
13%
29%
27%
10 Copyright © 2023 by Dow Jones & Company, Inc.
Under which framework does your company report on
sustainability or ESG?
How prepared is your company to publish the following
sustainability information?
United Nations Sustainable Development Goals (UN SGD)
Self developed framework
Global Reporting Initiative (GRI)
We do not report on sustainability or
ESG and have no plans to do so
CDP (formerly the Carbon Disclosure Project)
International Sustainability Standards Board (IS
SB), which includes
the former Sustainability Accounting Standards Board (SASB)
Task Force on Climate-Related Financial Disclosures (TCFD)
We do not currently report on sustainability
or ESG, but have plans to
0% 51015202530
17%
18%
19%
21%
22%
25%
16%
27%
We have published it We intend to publish it We have no intention to publish it
Scope 1 & 2 emissions
Scope 3 emissions
Climate risk
Biodiversity
Water impact
Diversity, equity & inclusion
0% 510152025303540 45 50 55 60 65 70 75 80 85 90 95 100
36%35% 29%
49%17% 34%
41%27% 32%
54%16% 30%
44%27% 29%
27%47% 27%
Copyright © 2023 by Dow Jones & Company, Inc. 11
SUSTAINABLE BUSINESS SURVEY REPORT 2023
How many dierent ESG ratings does your organization
currently pay to access?
Thinking about the ratings service(s) that you use,
which of the following statements apply?
We do not pay to access ESG ratings 123+
0
10
20
30
40
50
60
70
80%
6%
7%
76%
11%
We are able to understand what we
need to do to improve our score
We are easily able to benchmark our
performance against our peers
We feel the service is good value
Our investors use ratings so we need to do so as well
We are not satisfied with the rating service we use
We have been using one or more but may stop
because we are not getting sufficient value
We use one and are looking to add more
None of the above
0% 51015202530354
04
5
8%
10%
12%
24%
25%
14%
34%
41%
12 Copyright © 2023 by Dow Jones & Company, Inc.
Copyright © 2023 by Dow Jones & Company, Inc. 13
Why are you not using ratings services?
How does your organization monitor updates or changes
to sustainability regulations?
6%
11%
23%
20%
35%
19%
We do not believe we need to use them
We were not aware of them
Using them does not fit into our budget
We are considering using them in the next year
We
used them in the past but did not get good value
None of the above
0% 510152025303
54
0
Consume online news and information
The sustainability team does it
Guidance from professional organizations
Watch sustainability/ESG-focused webinars/videos
Discussions with fellow sustainability officers
We get this information from external law firms
The compliance team does it
Updates from a board advisor with ESG expertise
Other
None of the above
0% 510152025303540455
05
5
15%
22%
23%
27%
36%
38%
41%
4%
6%
52%
SUSTAINABLE BUSINESS SURVEY REPORT 2023
How would you rate the maturity of your organization’s
sustainability program?
What do you expect the maturity of your program to be
12 months from now?
Not started
Early stages
Somewhat developed, but with further to go
Well developed
Industry leader
0% 510152025303
54
0
34%
9%
9%
35%
14%
Not started
Early stages
Somewhat developed, but with further to go
Well developed
Industry leader
0% 51015202530354
04
5
17%
6%
11%
42%
24%
14 Copyright © 2023 by Dow Jones & Company, Inc.
Copyright © 2023 by Dow Jones & Company, Inc. 15
Which industry best describes your business?
Please estimate the gross sales or revenues for your
company or organization, including all plants, divisions,
branches and subsidiaries throughout the world, in U.S.
dollars for last year.
3%
5%
6%
7%
7%
8%
13%
2%
2%
2%
2%
2%
2%
2%
1%
1%
1%
14%
Profes
sional & Business Services
Financial Services
Education
Energy
Industry & Manufacturing
Technology
Agriculture & Forestry
Construction/Infrastructure
Automotive
Food & Drink
Media: Broadcast & Digital
Not For Profit & Social
Real Estate
Transport and Logistics
Utilities
Aerospace & Defense
Government & Public Sector
Mining & Resources
0% 51
015
Under $10 million
$11 million – $50 million
$51 million - $250 million
$251 million - $1 billion
$1 billion - $5 billion
$5 billion or more
0% 5101520253
03
5
12%
33%
13%
22%
13%
6%
SUSTAINABLE BUSINESS SURVEY REPORT 2023
16 Copyright © 2023 by Dow Jones & Company, Inc.
What type of organization do you work for?
Which of the following describes your relationship with
WSJ’s Sustainability content and programming, if any?
Privately owned
Publicly listed
Nonprofit
Government
Other
0% 51015202530354045505
56
0
4%%
4%
28%
56%
8%
I am a WSJ subscriber
Read WSJ articles on sustainability
Subscribe to the WSJ Pro Sustainable Business newsletter
Have attended a WSJ Pro Sustainable Business webinar
Membership in WSJ Pro Sustainable Business
Have attended a WSJ Pro Sustainable Business Forum
None of the above
0% 5101520253035404550556065707
58
0
3%
6%
9%
15%
41%
65%
72%