Organizations across the globe are fast adapting to a pressing reality. Their stakeholders – investors, employees, and customers – are expressing growing interest in environmental, social, and governance (ESG) targets and compliance.
And in the world of business, numbers don’t lie.
A Gartner article says, “ESG is diligently monitored by 91% of banks, 71% of fixed income investors, over 90% of insurers, and 24 global credit rating agencies.” Whereas a PwC article says, “83% of consumers think businesses should actively shape ESG best practices.”
These numbers reveal a trend that cannot be ignored. As an organization, if you want to be ahead of the pack, you need your stakeholders on your side. And the best way to do this is by learning how to balance your profitability and money-making innovations against your ESG commitments.
This is where your cloud strategy can help define your future.
Cloud technology has the potential to be your trump card in meeting your ESG priorities by promoting energy efficiency, resource optimization, virtual collaboration, and transparent sustainability tracking.
The Role of Cloud Transformation in Addressing ESG Priorities
According to the market research firm, IDC (as reported by World Economic Forum), “the transition to cloud computing between 2021 and 2024 will prevent at least 629 million metric tons of carbon dioxide”. That’s an impressive number, if ever there was one!
In the race towards net zero emissions and fulfilling your social commitments, cloud technology has emerged as a game-changer in ESG priorities, enabling you to drive positive change. As more businesses move to the cloud to advance their ESG goals, the collective impact will undoubtedly pave the way to building a green and sustainable world.
Here is how your cloud technology helps you play the balancing game of furthering your business goals and fulfilling your ESG commitments:
Significantly reduce your carbon footprint and moderate your environmental impact.
Cloud technology is inherently energy efficient. It substantially reduces energy consumption compared to traditional on-premises data centers as cloud providers optimize power usage, cooling systems, and server utilization in their data centers.
Avoid over-provisioning and wasteful utilization of resources, which ultimately leads to lower greenhouse gas emissions.
It offers a more sustainable approach to IT operations by enabling dynamic resource allocation, which means you can scale your computing resources up or down based on your evolving business requirements.
Sustainable Data Centers
Align your cloud operations with your broader goal of reducing carbon emissions.
Major cloud service providers strategically position their data centers in locations with abundant renewable energy supplies. For example, Google’s data centers are famous for sustaining themselves on wind and solar power.
Contribute to lower carbon emissions from daily commuting, ultimately benefiting the environment.
Cloud-based collaboration tools are pivotal in the business world’s transition to remote work. Virtual meetings, online document sharing, and real-time communication reduce the need for employees to travel to work.
ESG Reporting and Transparency
Build trust and credibility with your stakeholders through transparent reporting.
Cloud technology comes with enhanced reporting capabilities. This streamlined cloud-based data management, and reporting helps you transparently communicate your sustainability efforts to your stakeholders.
Social Inclusion and Accessibility
Promote social inclusion at your workplace by ensuring that your cloud-based applications are accessible to the PwD community.
Technology has long been hailed as a democratic equalizing force, and cloud technology is no different. It offers everyone equal access to resources and tools, fostering a more diverse and inclusive workforce in your organization.
Have we convinced you to consider cloud technology to build your organization’s sustainable, responsible future? Contact Alicia from our team (firstname.lastname@example.org), and we will help you chart a roadmap aligned with your business needs.