Green growth: why the global tech world has to lead with purpose

An increasing number of companies have made public commitments to adopt ESG strategies and support the global quest for green growth.

To drive “green growth”, governments, international organizations and business leaders are optimistic that suitable policies and technology will reduce emissions to sustainable levels. At the same time, there will be a continuous or even boosted economic growth.

Published: May 9, 2022 By CSE research team

Policy makers, the tech world and ESG Professionals rely on each other to unlock net zero progress faster than possible. There is incredible value in policy coming together with Sustainability ESG Professionals to fight the climate crisis.

The reasons for this are numerous and include:

• To decouple global GHG emissions from gross domestic product and drive “green growth”, governments, international organizations and business leaders are optimistic that suitable policies and technology will reduce emissions to sustainable levels.  That will allow a continuous or even boosted economic growth.

• There is an economic impact of insufficient climate action for the US government and the European Commission. At some point, the benefits of decarbonization will start to occur and could drive a new era of economic growth.

• Actions taken by a number of governmental and regulatory bodies mandating corporate disclosures of ESG initiatives. Many business leaders have reached an overwhelming consensus, believing a global climate emergency is underway

• Companies are under more pressure than ever to deliver on their carbon emissions pledges. Major companies made Net-zero carbon commitments. Banks are looking to extend those commitments to companies for which they provide financing.

• There is now consensus that all companies, sectors and countries should prioritize reducing their own emissions before considering offsetting.

• The International Sustainability Standards Board (ISSB) is seeking to develop a methodology for disclosing data beyond direct emissions, to capture a company’s carbon footprint across supply chains and use of its products.

• In the US, the recent Securities and Exchange Commission proposal for mandatory climate reporting includes Scope 3 information when it is considered material or is part of corporate climate targets.

• A new EU model for corporate sustainability disclosures was published last year. It is expected to be finalized in the coming months. The European Commission’s own proposal (the Corporate Sustainability Reporting Directive) explicitly requires an expansive corporate disclosure

• Because of the weak historical track record of decoupling global GHG emissions from GDP, public and private actors disagree about whether humanity can afford continued economic growth. From degrowth proponents’ point of view, the global economy must be scaled down and the systemic change and redistribution is necessary to accomplish this. They are right to point out the considerable gap between current climate mitigation efforts and the needs, as well as the various technological uncertainties and risks such as rebound effects.

• Heightened sensitivity to social justice concerns

• Prioritization of diversity, equity and inclusion (DEI) issues among boards, employees, potential employees, and consumers

• A desire among investors to invest in and do business with firms that share their core values

• A proliferation of public funds focused on green assets and initiatives

Upcoming Programs

In times of volatility the global tech community is at the forefront. That is why training is key. CSE has developed unique training programs with leading tech companies to instill a sustainability ESG culture within those companies, starting off and finishing by making the business case for sustainability ESG.  If a company cannot advance financially, they can’t help their community of stakeholders.

Employees need to understand this as well as employers do.  That is why so many tech leaders send attendees to our training.  We’ve worked with Google, Workday, Netgear, LG Electronics, T-Mobile, Sandia National Laboratories and other tech organizations.

For more information, early bird and group pricing reach us at [email protected]