ESG – The Bring-your-own-approach (BYOA) party!
Environmental, Social and Governance (ESG) is making headlines for companies, consumers, investors, and policy makers. Companies are aspiring for positive impact on climate change and to meet stakeholders’ demands for sustainability. Their ESG program implementations are in a bring-your-own-approach (BYOA) experimentation. BYOA for ESG amplifies the ongoing debate on whether to lead with IT (information technology) or IoT (Internet of Things) approaches.
ESG evolved into an intricate part of the business where environmental, social and governance issues are intertwined. The IT-led initiatives jumpstarted the ESG program implementations with a focus on social and governance aspects. The implementation involves codifying updated policies, compliance workflows, audit mechanisms and reports generation. The IT solutions enhance checks and balances for social and governance aspects but in isolation of the critical environmental aspects of ESG.
ESG in its pragmatic evolution is increasingly leaning onto time-sensitive,
global/regional concerns on the environmental and public health issues
Addressing environmental issues with relevant implications to social and governance needs an IoT approach. IoT solutions provide the foundation of real-time sensor solutions to improve operational performance, productivity and well-being. They address emissions, corrosion, waste, pollution, and other factors that can harm the environment and threaten public health. The IoT solutions enable operations transformation for a step-change impact on ESG program, where social and governance are an offshoot of the critical environmental issues.
Environmental aspects of ESG impact quality of life and global sustainability. Hence the ESG program implementation needs a comprehensive IoT approach and not be limited by IT approach. Force-fitting an IT approach for quick-hit ESG success could lead to news worthiness but not program effectiveness.
What is your BYOA (Bring Your Own Approach) for ESG?