Some people assumes that as a tech company, you need not be concerned about the impact of your carbon footprint. However, the current landscape demands a broader perspective, taking into account various aspects of business operations. This includes considerations such as: data storage and usage, employee commuting, flights, electricity and water usage in offices, supply chains, and collaborations with business partners.
Recent findings from HSBC indicate that sustainability is becoming a priority for businesses, with three out of four setting sustainability targets in 2021, and 86% expecting sales growth through the adoption of more sustainable practices.
Customers are increasingly aware of climate risks and are seeking transparency in how companies address climate-related issues. A global survey of over 14,000 people revealed that 93% of respondents expressed heightened concerns about sustainability and climate change post-COVID. Searches for sustainable products, from clothing to food, automobiles, and even buildings, have risen by 71% in 2021. The "green economy" is projected to surpass $90 trillion by 2030.
In short, you will be required to provide Environment disclosures and net-zero commitments by your clients in order to qualify as part of their supply chain. This may not come immediately but it’s better to plan ahead and be ready than lose potential deals.
Fostering employee awareness and responsibility towards eco-friendly practices can have positive effects on morale, productivity, and loyalty, resulting in a cleaner, happier, and healthier workplace.
Governments worldwide are introducing more stringent regulations favoring sustainable practices in businesses. Incentives are provided for building sustainable enterprises, while clear rules are being enforced to penalize companies that contribute to pollution. These changes highlight the importance of adopting sustainable practices for both ethical and business reasons.
Some of the regulatory updates worldwide include:
<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/78a071e6-9521-4b59-a926-b2f19758de47/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/78a071e6-9521-4b59-a926-b2f19758de47/I53wxU-c_400x400.jpg" width="40px" /> US – Enforcement Task Force Focused on Climate and ESG Issues
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<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/cd39bdfb-ef44-443a-bc62-2354b9c1c092/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/cd39bdfb-ef44-443a-bc62-2354b9c1c092/I53wxU-c_400x400.jpg" width="40px" /> UK – Chancellor publishes roadmap setting out details on new Sustainability Disclosure Requirements
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<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/d37bb69d-b08b-4b62-aa7c-d724dc93740d/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/d37bb69d-b08b-4b62-aa7c-d724dc93740d/I53wxU-c_400x400.jpg" width="40px" /> Europe - EU Taxonomy Climate Delegated Act. More information on this here.
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<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/90ec5f9c-faac-4631-9169-d6be679a2f57/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/90ec5f9c-faac-4631-9169-d6be679a2f57/I53wxU-c_400x400.jpg" width="40px" />
India - Mandatory BRSR reporting for top 1000 listed companies
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<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/2e58b90f-80b3-4ec0-8b66-193a9de2f904/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/2e58b90f-80b3-4ec0-8b66-193a9de2f904/I53wxU-c_400x400.jpg" width="40px" /> Canada – Canada Moves Towards Mandatory Climate Disclosures
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<aside> <img src="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/240e3517-225e-4427-8829-448337cc172f/I53wxU-c_400x400.jpg" alt="https://prod-files-secure.s3.us-west-2.amazonaws.com/9099153a-1832-4693-a34c-1af5fb0f85dc/240e3517-225e-4427-8829-448337cc172f/I53wxU-c_400x400.jpg" width="40px" /> Australia - Mandatory Reporting for Environmental Social Governance Metrics
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