June 12, 2008 - Half of today's businesses lack a sustainability strategy, and those that do are more likely focus on improving perceptions and responding to increasing regulations than generating revenue opportunities or meeting social needs, according to a new global survey.

The survey, sponsored by PR firm Pinnacle Worldwide, finds that just less than one-half of businesses already have an existing sustainability strategy, and another third are currently developing one.

The motivations driving corporate sustainability have more to do with burnishing image and averting risk than with creating new business opportunities, the survey suggests. Companies were asked to rate their primary sustainability focus on a scale of 1 to 10, with public perception earning a top score of 7.1. Environmental compliance rated a 6.6, just ahead of revenue growth (6.0) Companies cited "meeting social needs" at 5.28.

CEOs made up those surveyed and, although less than half have a strategy today, 55% say sustainability will grow in importance and require increased resources and attention. (A whopping 75% of all respondents call sustainability either "an important part of our organization's corporate strategy," or expect the topic "to become increasingly important in the future.")

CEOs were reported to be the primary drivers of sustainability decisions, and the highest-rated business strategy was to create a top-level sustainability vision and roadmap for meeting green goals.

That said, few companies have created an effective infrastructure for achieving that vision, according to the report. More than 65% of companies do not have dedicated sustainability staff and, of those that do, nearly half have fewer than five employees working more than half of their time on sustainability.

Download the full report here (PDF).