Establishing ESG goals and initiatives comes with great benefits—such as asset optimization, cost reductions, increased productivity, and more. However, a big challenge enterprises face upon establishing ESG initiatives is a lack of quality data, which is likely due to not having reporting processes in place to monitor progress.

In fact, less than 25% of global IT companies can accurately report on the progress of their ESG initiatives. This lack of transparency makes it all too possible for companies to overstate their performance, make false or misleading claims, and provide little to no proof to back up their assertions. This is known as greenwashing and leads to confusion, doubt, lack of consumer trust, and even fraud

To address these concerns, new legislation is being passed in 2023, requiring companies in the United States, United Kingdom, the European Union, and Canada to publicly report on their carbon emissions and initiatives centered around reducing emissions.

By 2024, 75% of organizations will implement ESG data management and reporting software to ensure they have a reliable data source for their ESG initiatives, which is extremely important in the event of an ESG audit.

“The most sustainable device is the one already in your hand,” says Allyson Mitchell, Vice President of Sustainability at Mobile reCell. “By extending the usable life of enterprise devices, organizations can derive optimal utility. When it’s time to recover a device, transparency and traceability strategies can ensure an organization maintains the highest and best usage of the device’s component materials while eliminating waste and preventing additional resource extraction. That’s truly a win-win for companies and the planet.”