Environmental, social, and corporate governance (ESG) is an approach to assess how much a company works towards social goals that go beyond the role of a company to maximize profits on behalf of the company’s shareholders. Typically, social goals supported within an ESG perspective include working to achieve a specific set of environmental goals, as well as a set of goals related to supporting certain social movements and a third set of goals related to how the company is governed in accordance with the goals of the diversity, equity, and inclusion movement.
Waste management software can help companies improve their ESG metrics (environment, social, and governance) in the following ways:
- Waste reduction: Software allows for the monitoring and optimization of waste management, resulting in a reduction in waste generated.
- Improved energy efficiency: Efficient waste management can help reduce energy costs by improving energy efficiency.
- Transparency and regulatory compliance: Software provides accurate and reliable records that help ensure compliance with local and international regulations.
- Improved reputation: Responsible waste management can improve the company’s image and reputation among stakeholders.
myWaste is an example of a digital waste management platform focused on data governance and ESG indicators that offers traceability of information from generation to final disposal.
If you, as a manager, want to implement ESG and waste management in your organization, be aware that the benefits go from the beginning of the planning and throughout the entire management, and can have a major impact, such as cost reduction, increased revenue, increased investor interest, and improved company image.