How used electronics can power sustainable ESG growth
by Xperien CEO Wale Arewa
The focus on Environmental, Social, and Governance (ESG) factors has become increasingly prominent. From reducing carbon footprints to fostering social equity, organisations are aligning their strategies with sustainable practices. However, one area that often goes overlooked in this endeavour is the contribution of IT hardware.
Contrary to popular belief, used IT hardware can play a pivotal role in advancing ESG goals, and leveraging service providers can aid in maximising its potential impact.
The demand for organisations to adhere to environmental, social, and governance (ESG) standards extends further than many finance leaders anticipate. In 2020, 85% of investors incorporated ESG considerations into their investment decisions.
Recent findings from Gartner, showcased at the Gartner CFO and Finance Executive Conference, underscore the significance of shaping financial stakeholders’ perceptions regarding their companies’ ESG achievements.
Chief Information Officers (CIOs) are no strangers to the significance of IT hardware in organisational operations. Yet, many may not realise the untapped potential of used IT equipment in driving ESG objectives. The lifecycle of IT hardware, from procurement to disposal, entails various environmental and social implications.
By embracing sustainable practices throughout this lifecycle, organisations can significantly mitigate their carbon footprint, promote circular economy principles, and support social responsibility initiatives.
Chief Sustainability Officers (CSOs) are tasked with spearheading sustainability initiatives across the organisation. However, collating comprehensive ESG impact data, especially concerning IT assets, can be a daunting task. This is where service providers specialising in IT Asset Management (ITAM) come into play.
These accredited professionals can assist in gathering scope 3 carbon sequestration data, tracking social impacts, and ensuring compliance with ESG reporting standards. By partnering with reputable service providers, CSOs can streamline the process of integrating IT hardware into the organisation’s sustainability framework.
Chief Marketing Officers (CMOs) are increasingly focused on showcasing their organisation’s commitment to sustainability. While meeting regulatory requirements is essential, going above and beyond compliance is what truly resonates with stakeholders.
By monitoring and verifying impact data related to IT hardware, companies demonstrate transparency and accountability in their sustainability efforts. CMOs can leverage these initiatives as compelling narratives to enhance brand reputation, attract environmentally conscious consumers, and differentiate themselves in the market.
The overarching objective is to gather actionable insights regarding the impact of IT hardware on ESG factors. This requires a multifaceted approach that encompasses collaboration across various departments and engagement with accredited service providers. By proactively addressing the environmental and social implications of IT assets, organisations can prevent greenwashing and build a foundation of trust with stakeholders.
Used IT hardware presents a valuable opportunity for organisations to advance their ESG goals. By partnering with service providers to collate impact data and going beyond legislative requirements, companies can demonstrate their commitment to sustainability and reap the benefits of enhanced brand reputation and stakeholder trust.
Clients and employees are increasingly expecting businesses to uphold high standards in their environmental and social responsibilities. A survey by PwC’s Consumer Intelligence Series revealed that 76% of clients would cease their association with companies that demonstrate poor treatment towards the environment, their employees, and communities.
It’s time for CIOs, CSOs, and CMOs to recognise the potential of IT hardware as a catalyst for positive change and embrace a comprehensive approach towards sustainable business practices.