As many have heard by now, ESG reporting is part of a series of new industry criteria many businesses are adopting to adjust to the changing ITAD landscape. Not only does ESG reporting help benefit clients, but it can also benefit an organization by providing accountability and equality in the workplace.
ESG is divided into three categories and refers to a company’s policies and standards on environmental, social, and governance issues. In the ITAD industry, ESG is accomplished in several ways. ITAD revolves around electronics recycling, making environmental ESG criteria perhaps the easiest to achieve.
Environmental standards examine what strategies are in place for potential environmental risks and how a company plans to manage or mitigate such risks. Social ESG criteria focus on a company’s relationship with its employees, clients, and community, how it performs regarding employee health and safety, and its stances on public issues such as human rights and labor standards.
Governance ESG criteria focus on the transparency and accuracy a company presents in accounting, reporting methods, audits, leadership, executive pay, and shareholder rights. Electronics recycling requires many steps in device processing that can lead to disaster, and legislative compliance helps hold an enterprise accountable for risk prevention and maintaining certifications.
In July 2020, Sustainable Electronics Recycling (SERI) released R2v3, the first major revision of the R2 practices since 2013. As the highest quality standard certification in the sustainability space, R2v3 compliance can pave the way for achieving successful ESG criteria. R2v3 is an updated version of the R2 certification, including tighter safety measures regarding data security and a more detailed description of services, such as a scope statement, process requirements, a list of other locations, etc. The revisions span ten different areas and include new safety measures.
Many companies are seeking out organizations with ESG reporting. Practicing legislative compliance with certifications and maintaining yearly audits to ensure clients your business is trustworthy and reliable.
Staying compliant with government legislation is one of HOBI’s top priorities in all our programs. HOBI’s R2v3, RIOS, and ISO 14001 certifications ensure all equipment is processed under full legislative compliance. We also undergo yearly audits and only work with reputable downstream vendors.
For more information about our ITAD services, call 817-814-2620 or contact HOBI at firstname.lastname@example.org.