Most Executives Would Cut Pay to Support Green
Three out of four executives say they are willing to sacrifice at
least 1% of their salaries to fund their companies’ green initiatives,
according to an April 08 Korn/Ferry survey.
A small minority, three percent of respondents would be willing to
sacrifice upwards of 10 percent of their salaries, while about
one-quarter (27 percent) would be unwilling to sacrifice
any portion of their salary to support sustainability efforts. Almost half of executives report that their companies have
allocated existing staff, or hired new staff to support green programs.
Despite this there remains widespread belief green initiatives are not financially sustainable.
69% of the respondents believe that “green” initiatives will take a
back seat to profit-driven activities in these uncertain economic
times. Only 29% believe that the current economic situation will not
have an effect on “going green".
The study suggests that top executives feel that both a personal and professional stake promoting in sustainability and corporate
responsibility. “Clearly, the high number of executives willing to personally
contribute to their company’s green initiatives signals a change in
thinking around the importance of sustainability today,” said Jay
Millen, senior client partner with Korn/Ferry International.
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