The world is lagging in its climate change roadmaps—organizations need to step up to the plate. Here is how …
Paying attention to environmental, social, and governance (ESG) issues is becoming increasingly vital for all organizations across all industry sectors.
Sustainability is the business approach key to unlocking long-term value by taking into account how an organization operates in the ecological, social and economic environments, and the concept is built upon the assumption that developing such strategies fosters organizational longevity.
The impact of climate change is real and intensifying with each passing day, both physically and socioeconomically. Enterprises and consumers alike know and understand the urgency of the problem. In Asia, many authorities have made sustainability/ESG performance disclosures mandatory, more regional agreements and high-level sustainability commitment projects are being forged, and the mainstreaming of sustainability has changed how products and services are produced, procured and consumed, according to IDC.
The growing consensus is that governments and organizations, not just individuals, must take immediate action to change the course of climate change.
Defining a transparent sustainability strategy
Consumers and corporates are increasingly demanding that suppliers provide footprint transparency in terms of their operations, product sourcing and research-and-development practices.
In technology deployment decisions forward-thinking providers understand the importance of sustainability. On that note, security teams are leveraging the Cloud and the Internet of Things to deliver seamless end user experiences that simplify complexities, optimize processes and reduce the use of unnecessary resources.
As businesses come under increasing pressure to share information on metrics such as energy use, waste reduction and resource optimization, it is imperative for organizations to define a clear sustainability strategy so as to anticipate and adapt to environmental, social and regulatory changes, both in the short- and long-term.
Some key considerations essential to helping organizations bridge the sustainability gap and meet their ESG goals include:
- Develop a roadmap: Sustainability programs require an actionable roadmap with defined objectives, goals, projects and plans. It is crucial to spend time to understand your customers’ sustainability goals to ensure your strategy aligns with their expectations.
- Plan for ESG metrics: ESG metrics measure the impact of sustainability programs. While almost every manufacturer has waste, recycling and disposal plans, leading organizations also have a robust procurement and product development blueprint that incorporates reporting of that data, such as greenhouse gas emissions and regulatory compliance.
- Work with like-minded suppliers and partners: Identify and work with suppliers that demonstrate sustainability efforts in their own organizations. This creates a sustainability component within the full value chain and helps your organization communicate sustainability key performance indicators and returns on investments in a more effective way.
Sustainability is no longer a value-add but a must-have practice for organizations.
