Intelligent CIO APAC Issue 30 - Page 77

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Driving business results through ESG
At the board level , there is often a misconception that implementing sustainability initiatives is costly . But by deploying the right technology , sustainability efforts do not have to cost the bottom line . Shifting to the cloud can actually positively impact revenue by reducing spend across energy , IT , cybersecurity and more .
A study by the United Nations Global Compact and Accenture found that between 2013 and 2019 , companies with consistently high ESG performance enjoyed 4.7x higher operating margins and lower volatility than low ESG performers over the same period .
With The Harris Poll finding that 58 % of executives believe their organization overstates sustainability efforts when just one-third of organizations have sustainability measurement tools in place , it is clear businesses don ’ t quite know how to quantify progress .
In the cloud , organizations can access tools , such as Google Cloud ’ s Carbon Sense suite of tools , to help measure , report on and reduce carbon emissions and automatically recommend carbon reduction actions .
Leaders are beginning to recognize the role the right of technology can play in setting , achieving and measuring ESG and sustainable practices .
Leveraging cloud technology can not only help businesses achieve ESG goals but can help to increase innovation and bolster business performance . The impact is apparent and fast , easy to access ESG and sustainability data is more important than ever .
Why measurement matters
An organization ’ s ability to report on ESG and sustainability efforts is crucial to validating success and being able to accurately measure outcomes will help keep businesses accountable as they convert intent to action .
While the issues facing our climate are a challenge , we must act quickly to address and overcome them . By leveraging cloud , the C-suite can significantly accelerate their organization ’ s journey towards sustainability and a greener future . p
Businesses are under pressure to set ambitious ESG goals , with climate-related disclosures among the most immediate .
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