Problem-Solving with vITAD: Bridge the Digital Divide with Electronics Donations Programs
The business world can be grueling in any industry, and no matter how well business managers plan, there’s always the potential for things to go wrong. Risk management is becoming more necessary as clients and stakeholders demand more transparency in business operations. ESG reporting is one of the additional services ITAD providers offer and can be used to improve risk management.
ESG reporting provides transparency in a company’s operations through environmental, social, and governance criteria. Each criterion provides insight into a company’s policies and stances on certain ESG issues.
Environmental criteria examine what strategies are in place for potential environmental risks and how a company plans to manage or mitigate such risks. For example, whether or not the company owns contaminated land, how much energy it consumes, if its products are recyclable, how it complies with environmental regulations, and how it manages and disposes of hazardous wastes and toxic emissions.
Social criteria refers to a company’s relationship with its employees, clients, and community, how it manages employee health and safety, and its stances on public issues such as human rights and labor standards, employee engagement, data protection and privacy, and inclusivity initiatives.
Governance criteria focus on the amount of transparency and accuracy a company presents in accounting and reporting methods, as well as audits, leadership, executive pay, and shareholder rights. Investors want to know how the company treats its shareholders and how much weight is put on their opinions. Governance also focuses on company policies, principles and procedures governing leadership, board composition, executive compensation, and political contribution.
Incorporating ESG reporting into ITAD service offerings helps mitigate potential ESG issues before they arise and potentially lead to reputational damage. As companies become more aware of environmental impacts, green policies become more important when partnering with other companies for environmental and social criteria. Where a company’s e-waste ends up may impact residents who live near landfills, and practicing proper e-waste disposition helps prevent any potential legal issues.
ESG is accomplished in many ways in the ITAD space, beginning with environmental procedures. ITAD vendors like HOBI mitigate any potential environmental liability via electronic recycling.
For more information about our ITAD services, call 817-814-2620 or contact HOBI at sales@hobi.com.
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