ESG: From Data to Impact

When everyone is busy and has their mind wrapped around in the rapid advancement of “technology”, the importance of social environmental awareness has long been forgotten. Now, the whole world is talking about it – so where have it left off?

In the digital era we’re living today, technicality and skills related to information and technology are crucial for organizations to determine value and insights. People are racing to have the most brilliant solution and companies are searching for the most skillful resources to execute. But somehow, it is so important that most of them forget the one true essential thing, which is keeping them “valuable for a long time”. 

Globally, the emphasis on ESG (Environmental, Social, and Governance) issues have significantly grown in recent years as it leads to an increased demand for full transparency and disclosure for companies to report. In Southeast Asia alone, digitalization and ESG alone are the two main skills companies “heavily rely” on today yet it is the most challenging development happening inside! In simple terms, having a prominent digitalization and profitable information alone is not enough! 

Companies today must comply and understand good governance practices to “stand stronger and live longer” in the dynamic landscape. That’s why companies must find answers to implement ESG into its digitalization enterprises.  ESG – Environmental, Social, and Governance, is a framework used to evaluate a company’s sustainability and ethical practices, encompassing its environmental impact, social responsibility, and corporate governance. 

So what about it? Companies that score well on ESG criteria are generally considered more sustainable and responsible in their business practices. Investors and stakeholders now are using ESG data to make well-informade decisions regarding capital investment and support that aligns with global (environmental) values. In accordance, companies must be able to address environmental and social challenges while maintaining good governance practices. In a way, ESG data become “a trust key” for stakeholders to invest and a guarantee for companies.

In today’s business landscape, ESG are crucial as they help navigate risks, create long-term value, meet stakeholder expectations, comply with regulations, drive innovation, access capital, gain a competitive edge, engage employees, and contribute to a better world. These principles have become integral to modern business strategies, and organizations that embrace them are better positioned for success in an evolving global landscape.

Along with implementing digitalization, “Digital ESG” now the use of technology and tools to collect, manage, and analyze data related to environmental, social, and governance factors, allowing for real-time monitoring, efficient reporting, and informed decision-making. It leverages digital platforms to enhance transparency, engagement, and sustainability practices in organizations, making ESG information more accessible and actionable.

And not forgetting #AI, artificial intelligence and predictive analytics help identify emerging ESG trends and risks, facilitating proactive risk management and sustainable strategies. It enhances supply chain management, ensuring sustainability across the entire value chain. Digitalization aids investor relations by providing accessible ESG performance data, essential for investors, and encourages sustainable product and service innovation.

In a recent news, Bursa Malaysia acknowledge this urgent need and work together with the London Stock Exchange Group in developing a Centralised Sustainability Intelligence (CSI) Platform for ESG disclosures – helps companies report on their environmental and social practices. This digital platform makes it reliable for companies to share information about reducing carbon emissions, giving eco-friendly solutions, show they’re being responsible and sustainable. UMW Holdings and PETRONAS, are already using CSI platform to improve their sustainability and attract new business opportunities.

Globally, the implementation of ESG report will be fundamental by 2045 for all companies out there. In which industry you operate or contribute, being environmentally conscious, realize sustainability solutions, and practice good governance “will become the staple” of business responsibilities to people, society, and world. If you’re one of the few that haven’t started to implement ESG or make the effort to do so, YOU’RE ON THE RIGHT PAGE!

Here at BIGIT, we’re always up-front and stay updated on the latest tech news-trends emerging around the world. For business, enterprises, and organization – we curate exclusive in-house trainings and workshops for A to Z solutions for your questions. Join us on a mission to embrace tech awareness and implement a strategic approach for your organization.– Reach out to us or  CLICK HERE to learn more!