For-profits ahead of nonprofits on ESG

For-profit companies place more importance on sustainability and diversity programs than nonprofits, according to a recent survey by PNC.

Some 70% of for-profit business leaders said social responsibility across the board is a very high priority, compared with 59% of nonprofit leaders, the survey found. Meanwhile, 23% of for profits said it was somewhat important, as did 32% of nonprofits.

Of those that indicated that social responsibility was important, 32% of for profits said environmental sustainability was their top concern, followed by diversity, equity and inclusion (22%) and employee benefits (13%). Sustainability was also the most common top concern among nonprofits, at 19%, ahead of ethical business practices (10%) and community development and outreach (10%).

For-profit groups were also more likely to have sustainability initiatives or programs than nonprofits, at 79% versus 67%. Additionally, 76% of for profits indicted they have DEI programs, while 59% of nonprofits said so.

PNC commissioned a survey in December of 120 for-profit executives and 120 nonprofit leaders. Most of the entities had annual revenue of $50 million or more, according to the report.