Cloud technology is transforming the prospects of social development by providing a powerful tool to companies. Learn how in this article.
Companies today are facing the challenge of balancing social contributions alongside their business objectives. These ESG goals are designed to ensure that companies are contributing toward sustainability and other beneficial social causes alongside their core fiscal directives.
According to a recent study by KPMG, 58% of CEO’s shared that company stakeholders are demanding a higher level of transparency into ESG measures and goals.
Based on this paradigm shift, technology companies are taking aggressive steps to integrate ESG into their strategy and expand their social impact. Cloud computing solutions provide the optimal way to enhance speed and business agility while dictating a shift towards sustainability.
Here are ways companies are using the cloud to improve their ESG compliance.
Ways to Use the Cloud for ESG Goals
Sustainable Equipment Utilization
The shift towards cloud computing is allowing business to reduce their expenditure on legacy equipment. This is making a considering impact in decreasing energy consumption while simultaneously improving the agility of operations. Companies also are shifting away from highly-energy serve configuration in-house to shift and adapt scalable cloud solutions.
Legacy technology often requires data centers that are constantly consuming large amounts of electricity. A shift to an improved technology prevents electronic waste and optimizes electricity consumption. The scalable structure of cloud computing is helping companies cut down on unnecessary waste.
Improving ESG Reporting
Cloud computing technology is paving the way toward effective ESG reporting solutions by allowing companies to shift to a robust reporting approach. Unlike conventional systems, cloud computing allows companies to have real-time insight into progress and performance.
Recent studies by PWC suggest that business leaders are looking toward the cloud as a fundamental tool to improve ESG progress.
Cloud-based dashboards integrate data-source and create an omnichannel approach toward ESG reporting. Well-curated dashboards give companies the ability to educate customers and cement their ESG status in the market.
Green Data Centers
Green data centers are an effective way for companies to manage data using sustainable energy sources. These data centers are powered by sources like solar, wind, and other renewable energy sources that minimize their environmental impact and ensure that the data management can be managed effectively.
Leading global companies like Meta and Amazon have already made strides in shifting their existing infrastructure towards renewable energy sources. This transition is expected to further accelerate in the coming years as stakeholders recognize the importance of sustainability amidst rising global temperatures.
Looking Towards the Future
To effectively leverage the ESG potential of cloud computing technology, companies need to develop the required infrastructure along with a long-term growth strategy. Having a holistic overview is essential to give companies the flexibility they need to make challenging decisions and select areas that can be delegated to the cloud.
If you are thinking about exploring cloud computing solutions that focus on ESG, Turia Technology is your ideal partner. Turia Technology provides cloud solutions to public and private enterprises with a focus on scalable ESG expansion.