Does this Data Come in Green?
Choices, so many choices. Heralding the latest thing seems as much a part of modern technology as stack overflows and API keys. Research and development (R&D) keeps a steady stream of innovations flowing, but while trends come and go, ESG is here to stay.
Environmental, Social and Governance (ESG) isn’t a technology per se, but its sweeping impact invites comparisons with the cloud, big data and AI. It’s not out of place to talk about ESG early adopters and laggards. An evolving set of ethical standards for managing large organizations has landed like a new tech unicorn, ready to ‘change everything’.
In that sense, embracing ESG won’t make chief data officers (CDOs) cutting edge or fashion-forward. It’s more a case of urgently working out how it will re-shape their tech stack, processes and operating model. One thing they can count on: board and customer demands for better ESG reporting will get louder, both to back up claims around sustainability, respond to consumer demand and to de-risk the wave of ESG regulatory regimes cresting around the globe.
CDOs will need to act, but the more forward thinking will result in synergies between what the business needs and the enabler to make ESG central to corporate strategy.
- Boards want their firms to be — and be seen to be — more sustainable
- CDOs want to demonstrate corporate responsibility and drive the appropriate use of data to create value
- Both want reliable, ethically-defensible business results