As we move into 2023, Environmental, Social, and Governance (ESG) trends continue to play an increasingly important role in the business world. To secure investment, companies are expected to demonstrate a social and environmental conscience while achieving financial success. The other factors driving ESG are increased regulation are reporting standards as well as pressure from employees, consumers, supply chain, and other stakeholders.
Circular Economy
Circular IT is becoming an increasingly important ESG trend in 2023 as businesses aim to reduce e-waste and move toward a more sustainable future. The circular economy at its most basic, is based on the principles of reduce, reuse, and recycle, and involves the designing out waste and pollution by keeping materials in use for as long as possible.
Use of an alternative operating system to access cloud-based workspaces can enable organisations to double the usable life of their PCs. This reduces waste and saves money. It also displaces the embedded CO2 in those PCs by spreading them across a longer time horizon.
Refurbished or remanufactured computers offer a zero, or very low-carbon alternative to sourcing new machines. What’s more, they also come cheaper than new machines so there is a very clear business case for choosing refurbished or remanufactured computers.
Climate & Nature
Climate change is a critical issue that continues to receive attention in 2023.
Businesses must aim to reduce their carbon footprint and operate sustainably. Companies need to focus on reducing greenhouse gas emissions and increasing the use of renewable energy.
Biodiversity loss is a subject that is receiving increasing attention in 2023. This is driving the ESG trend for companies to develop plans to reduce harm to nature both on land and in the oceans. Programs to actively encourage biodiversity can directly benefit an organisation’s local environment and stakeholders.
Energy
The use of renewable energy sources such as solar and wind power is increasing as businesses aim to reduce their carbon footprint. Energy efficiency is also becoming an important factor, with companies seeking ways to reduce their energy consumption and costs. By repurposing existing computers with an alternative operating system, businesses can reduce the energy consumption and related costs from running their computers by 22-49%.
Finance
Investors are increasingly taking ESG factors into account when making investment decisions. Companies that are transparent about their ESG policies and practices are more likely to attract investment. ESG investing is on the rise, and businesses that prioritise ESG are likely to be rewarded.
Social Sustainability
Businesses need to consider their social impact, including issues such as human rights, labour practices, diversity, equality, and inclusion. Companies must also consider their impact on the communities in which they operate, and work to create positive change.
Tech & Innovation / Tech Minimalism
As technology advances, businesses need to find ways to balance innovation with sustainability. This includes implementing energy-efficient technology and reducing e-waste. Cognition Cloud offers businesses the ability to extend the life of their computers, whilst improving performance, flexibility, security and cost.
Bottom Line
In conclusion, 2023 is set to be another year where ESG trends play an increasingly important role in the business world. Companies that don’t prioritise sustainability to create positive social and environmental impact risk seeing themselves excluded from being able to supply certain sectors and may find it harder to raise finance. By focusing on circular IT, reducing their carbon footprint, using renewable energy, implementing energy-efficient technology, prioritising social sustainability, and investing in ESG, companies can create a more sustainable future for themselves and for the planet. Businesses can get in touch with Cognition Cloud for a free assessment of the embedded emissions in their end-user IT.
David is a co-founder of Cognition Cloud and is passionate about sustainability in IT. Always thinking about how IT solutions can be greener, more secure and more cost effective.
