target audience: TECH BUYER Publication date: Sep 2022 - Document type: IDC Perspective - Doc Document number: # US49582222
ESG for the CIO: An Organizational Perspective
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Abstract
This IDC Perspective highlights how environmental, social, and governance (ESG) issues are important for a variety of stakeholders, each with their own set of interests. Today's ESG requirements are an ongoing evolution of societal expectations that organizations must take a broader responsibility for their community of stakeholders beyond just profit for shareholders. Recent initiatives from regulators such as the U.S. Securities and Exchange Commission and from legislators such as the European Union have elevated the importance of ESG. Every CIO should prepare an ESG road map with four steps. First, examine the ESG profile of key digital service and product vendors. Second, understand your own organizational ESG priorities and frameworks for measurement and reporting. Third, engage vendors to understand how their ESG capabilities, both in terms of products and in terms of the vendor organization, can enhance or strengthen yours. Last, communicate regularly within the organization on how the CIO is contributing to ESG priorities, which will require an annual ESG review of existing and new vendors.
"The CIO cannot ignore ESG because of the importance within the overall organization and the increasing focus on ESG from investors and other stakeholders," says Dr. Ron Babin, adjunct research advisor with IDC's IT Executive Programs (IEP).