Call for new set of sustainability rules

A lack of meaningful benchmarks often stands in the way of companies making progress in their corporate sustainability strategies, according to a new survey from KPMG. The accountancy firm said two-thirds of those polled believed a new set of rules was "either very important or critical". In the current economic climate, short-term financial priorities were the largest barrier, followed by the risk of higher costs.

"A lack of measurability via benchmarking means it is still difficult for companies to show how their sustainable initiatives affect the bottom line," KPMG's Vincent Neate said.