Are Companies in Silicon Valley Maintaining Consistent Sustainability Reports?
Silicon Valley sees limited leadership in the sustainability domain. Why is this tech industry facing so many problems? Are companies going to do anything about it?
FREMONT, CA: The world’s largest hub of tech companies are experiencing limited leadership in the sustainability province. Except for certain giant multinationals, organizations in Silicon Valley have ways to go prior to catching up with the national average concerning sustainability strategy and reporting.
For instance, Silicon Valley is still lagging significantly regarding setting up comprehensive sustainability techniques for minimizing carbon and confronting social challenges.
This year’s report showed that Sustainability Reporting Trends in Silicon Valley 2019, demonstrates that 60 percent of enterprises analyzed have a sustainability report, up from 29 percent in 2016. It is shocking to see the numbers being so low, as the sector is dominated by goal-driven millennials and belief in the potential of technology to address global challenges.
It is true that large companies might have more resources, but they also have more departments, which includes managers who are in charge of sustainability but not at the C-level. These sustainability responsibilities come under department heading like human resources, health and safety, marketing, or stakeholder engagement because nobody realized that something like that should exist throughout an enterprise.
Smaller organizations and startups also need to integrate sustainability practices from the start, while large companies are expected to realize the need to accommodate a new role.
A substantial goal has a specified metric that can be quantified. Instead of enhancing agriculture resources, the companies focus on improving access to healthy food with their initiative of farm-to-table, which connects organic farms with markers and groceries of local farmers.
Investors, stakeholders, and customers desire to see numbers about investments, particular roles of leading initiatives, and the anticipated advantages of these efforts. However, companies are showing progress and enhancement in sustainability, which is enhancing branding, credibility, and engagement among socially responsible investors as well as consumers, which is a good sign.
The bottom line is that companies in Silicon Valley need to work on their sustainability reports so that they can address global challenges.
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