Environmental, social, and governance (ESG) reporting is making its way through the business world as a new criterion for companies everywhere. By focusing on ESG policies and disclosing data on each, companies can improve aspects of business such as compliance, investor transparency, and environmental awareness. ESG represents a significant change in traditional ITAD industry standards, especially with regard to environmental and social criteria.
Many businesses strive to reduce their environmental footprint, and ESG reporting is one way to help ensure clients the company is eco-friendly. The environmental aspect examines what strategies are in place for potential environmental risks and how a company plans to manage or mitigate these risks. Within the ITAD industry, the environment is always a priority. ITAD vendors mitigate any potential environmental liability via electronics recycling. Proper IT asset disposition helps prevent e-waste from entering landfills and contaminating the environment. For ESG reporting in the ITAD space, environmental criteria are reflected in the industry’s primary objective, managing obsolete devices.
ESG social criteria refer to a company’s relationship with its employees, clients, and community and how it performs regarding managing employee health and safety. Additionally, the ITAD industry social criteria focus on bridging the digital divide and providing opportunities for clients, such as value maximization and repair and remarketing opportunities via proper IT asset management and disposition.
As a new industry standard for IT asset disposition enterprises, ESG goals are becoming more prevalent and expected. As a result, many companies are refusing to partner with other companies unless they have ESG criteria.
HOBI implements ESG criteria in many ways. A significant part of social criteria in ESG reporting is data protection and privacy, and a large facet of IT asset disposition is data security. HOBI is also R2v3, RIOS, and ISO-14001 certified and focuses on mitigating any potential environmental liability.
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