What role does technology play in ESG?

Thanks to many new laws and regulations, ESG data is in many cases no longer optional but a necessity for companies and organisations as stakeholders, investors and even customers demands collection of ESG data. Recent years have shown us that accountability and transparency is a priority more so now than ever. 

According to a survey done by IBM, 9 out of 10 consumers reported that the COVID-19 pandemic affected their views on environmental sustainability. The COVID-19 pandemic was the top factor referred to in impacting people's opinion, more so than weather disasters happening around the globe.

New innovations and tech companies, have made it possible for many businesses and organisations to extract and analyse ESG data - but with these possibilities also comes challenges. To help with the challenges such as how the data is collected and analysed, many turn their eyes to technology to help collect and distribute ESG data. Thanks to technology, many industries can be modernized to become more environmentally friendly.

To place ESG data within a strategic plan has proven to be important as an integrated approach to the collection, analysis and reporting of ESG data is something that most businesses and organisations must embrace and act upon.

“As noted by The World Economic Forum, among others, the COVID-19 pandemic, and now ongoing recovery, is an opportunity to build back better. By this, we mean that ESG performance can now be central to business and that organisations should put ESG performance at the heart of how they conduct themselves going forward” says Frida Emilsson, the COO and cofounder of Worldfavor.

The COVID-19 pandemic has shown us that ESG is a priority more now than ever before and we hope that more businesses and organisations realise that there is time to make the world more sustainable with the help of ESG data collection and analysing.

Thank you Maddyness for highlighting this important topic and including Worldfavor

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