Nasdaq 2023 Survey on ESG/Sustainability

According to the recent survey by Nasdaq:

  1. Most of the mature companies have a big challenge with data collection & collation for effective ESG reporting, 1 of the root causes behind greenwashing
  2. When it comes to leveraging technology to drive the ESG/Sustainability strategy across organizations, they face many barriers towards investments in sustainability measurement tools & technologies, the major causes are due to: 1) Cost of solutions, 2) Budgetary limitations 3) lack of prioritization.
    With 89% of the Nasdaq listed IT companies reporting the above barriers towards investments in ESG & Sustainability, what does these call for:
  3. Should corporates look at mandatory investments as a planned budget allocation in Sustainability ?
  4. Should this industry be regulated, if yes by whom & what regulatory standards are they expected to comply with ?
  5. Should IT companies look at CSR initiatives / budgets as a means to fund ESG & thereby help reduce initial cost of investments for corporates in Sustainability ?
  6. Can the open source industry pitch in with low cost affordable tech solutions in ESG ?
  7. Can corporates present a view on the cost of transition towards sustainable business practices in IT, & if so how & when?

Looking forward to views from this forum, thanks Venkat


Thanks for raising these important points, Venkat. The Nasdaq survey highlights some key challenges companies face in implementing effective ESG strategies.

I agree that data collection and reporting pose real obstacles, especially for mature companies with complex operations. Investing in sustainability measurement tools could help, but budget constraints are limiting factors.

Rather than mandating specific ESG investments, a better approach may be creating incentives or standards to nudge companies in the right direction. Tax breaks for sustainability spending, or reporting frameworks like those from SASB, could guide companies. Regulation may help but risks being heavy-handed.

IT companies are well positioned to develop innovative, cost-effective solutions themselves. Leveraging open source and CSR initiatives to make sustainability tech more accessible is a great idea.

Overall, transitioning to sustainable practices will require tradeoffs and real investments by companies. But done strategically, these shifts can strengthen businesses for the long term while benefiting society. Collaboration within industries will likely be key. There are still challenges, but many opportunities ahead.

1 Like