In today’s digital business context, the use of IT has a significant impact on the organisation’s environmental footprint, particularly in industries with a high degree of service delivery such as financial services, public sector and the technology industry itself. The consumption of energy by the technology industry makes it a huge offender for emissions while UK & Ireland fail to make their emissions targets. The amount of energy consumed during an ongoing cost of energy crisis also emphasises the need of making IT greener - and leveraging IT to reduce the climate impact of organisations and their eco-systems.
During the last six months we have seen a substantial shift in client focus to address their ESG status, particularly in respect of carbon emissions. Much of this change is driven by demand from larger business customers. More and more, tenders, requests for quotes and renewal of contracts are accompanied by increasingly comprehensive and onerous ESG information demands about standards, business policies, environmental declarations, staff training, supplier preparations and so on. This has created challenges for most organisations and especially SMEs who generally don’t have anyone with responsibility for ESG nor the skills, systems, data or processes in place to meet these requirements.
The level of entrepreneurship in an economy is cyclical, and historically precedes the economic cycle. The post-pandemic recovery of the global economy, nations and value chains will rely on the level of entrepreneurship to increase and lift new and existing organisations and ultimately whole economies. Never before in most people’s working lives has the entrepreneurial spirit been more important for organisations to survive, innovate, explore opportunities and thrive through the down-turn triggered by the pandemic and beyond.
Many are worried that sustainability will not be prioritised as societies and businesses are gradually recovering from the effects of the pandemic. Such concerns are based on the observation that companies as well as consumers are struggling just to survive and that any investments whatsoever in sustainability will be considered a non-affordable luxury.