The world’s largest concentration of tech companies sees limited leadership in the sustainability realm. According to a new report from the Center for Sustainability and Excellence (CSE). Excepting certain large multinationals, companies in Silicon. Valley have a ways to go before catching up with the national average in terms of sustainable strategy and reporting. For instance, Silicon Valley still lags significantly in terms of setting up comprehensive sustainability. Strategies for reducing carbon and addressing social challenges. Still, they have come a long way Silicon Valley Slumps in since just three years ago when the CSE published its last report. This year’s report, Sustainability Reporting Trends in Silicon Valley 2019. Shows that 60% of companies analyzed have a sustainability report, up from just 29% in 2016.
But in a sector dominated by purpose-driven
Millennials and belief in technology’s ability to address global challenges, the number seems surprisingly low. The report also found that: 37% of companies Vietnam WhatsApp Number Data analyzed reported climate change performance; 23% included reference to the UN Sustainable Development Goals, ranging from a simple statement of support to a full integration; 22% have been externally assured, significantly increasing reporting accuracy and credibility, key for investors and ESG ratings; Among all companies, “environment” and “ethics” were the most reported focus areas; just 23% of all companies in the study displayed a sustainability strategy that involves all main focus areas.
The companies analyzed have an
ESG ratings profile, which shows the importance of ratings to sustainability strategy and approach. In 2016, most VCs looking to finance the “Next Big Thing” were not using sustainability metrics in their analysis. With the rise of ratings agencies, the China Email List use of sustainability due diligence has increased significantly, and companies are taking notice, the report indicates. From a technology perspective, Blockchain applications promise to address reduced environmental impact and better assurance of human rights and fair work practices. While there are many possible applications for AI (artificial intelligence) in sustainability, there are many risks associated with bias, poor decision making, low transparency, job losses and malevolent use.
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