Livingston James recently announced the publication of our Future CEO Survey in partnership with EY, which incorporates the responses from more than 120 senior leaders in Scotland including CEOs, CFOs, COOs, CIOs, CHROs and NEDs. The purpose of the report was to explore priorities for the modern-day CEO and succession planning, with some intriguing findings emerging from the survey and interview responses. Participants singled out a need to improve workplace culture and diversity as a key challenge, alongside balancing profitability with improving long-term values such as environmental, social and governance (ESG).
Livingston James Consultant, Rachel Sim, explores these challenges below, with a particular focus on the role of the CIO in helping businesses overcome them.
At Livingston James, we have found ESG to be an increasingly important topic of discussion with clients and recent studies have found ‘Sustainability Manager’ roles the fastest-growing UK job vacancy, yet the number of organisations with an ESG leader in place remains relatively low, particularly for SMEs. ESG is a key consideration for C-suite executives, but many organisations have limited expertise in this area which prompted me to consider who is responsible for ESG agendas within an organisation when there is not a dedicated ESG leader.
A number of organisations are forming ESG committees with members from cross functions, with CFOs, HR and legal teams often obtaining much of this responsibility. I was surprised to find that for many organisations, technology leaders appear to be less involved in these conversations.
In today’s rapidly evolving landscape, technology and ESG have become increasingly connected. As technology continues to shape and alter industries and job profiles, its impact on ESG is something that C-suite executives should not only understand but actively exploit to ensure they maximise the impact of their ESG initiatives.
ESG reporting is paramount, however with data key to delivery and understanding impact, ESG becomes less of a stand-alone function and more closely linked to technology, making it a key concern for CIOs as ESG reporting relies heavily on accurate and comprehensive data. CIOs are tasked with establishing robust data infrastructure to ensure the collection, analysis, and reporting of ESG-related information to ensure accurate assessment of an organisation’s ESG performance. This does not simply involve meeting regulatory requirements or improving corporate image; it is about reshaping the digital landscape to ensure that organisations are future-proofed, as well as aligning digital strategies with strategic goals.
With IT traditionally being known for being a resource-intensive department, energy-efficient technologies are central to reducing consumption. For example, cloud computing enables CIOs to optimise resource usage whilst reducing organisational carbon footprint, thus improving efficiency, security and reliability, as well as reducing costs and environmental impacts – positive results all around!
Technology plays a crucial role in addressing social issues. CIOs must ensure that digital solutions contribute positively to society. This includes leveraging technology for community engagement, diversity and inclusion initiatives, as well as ethical supply chain management. CIOs should be reviewing not only internal ESG initiatives but also those of their suppliers to ensure they are partnering with organisations with shared values. CIOs are becoming advocates for technology-driven solutions that promote social benefits and also play a vital role in ensuring data security, privacy, and ethical use of technology. Adhering to strong governance practices not only protects the organisation but also enhances its reputation. CIOs are now actively involved in crafting policies that align with ESG standards to promote responsible and transparent use of digital resources and customer data.
CIOs are leveraging advanced analytics to measure and report ESG performance, which is now a key element in data strategies. By collecting and analysing relevant data, organisations can gain insights into their environmental impact, social initiatives, and governance practices, enabling them to track progress and demonstrate accountability. By embracing ESG principles, CIOs contribute not only to the betterment of their organisation but also to the wellbeing of the planet and society at large, guiding us towards a sustainable digital future.
Despite the significant contribution CIOs can make to the ESG agenda and the insight they can offer, it is important to consider contributions from the entire board and each department for driving change. A cohesive, collaborative approach will result in the biggest impact across all businesses.
To receive a copy of the Future CEO Report, please reach out to the Livingston James Team at [email protected].
The CIO’s Role in ESG: Leading the Charge for Sustainable Success
Livingston James recently announced the publication of our Future CEO Survey in partnership with EY, which incorporates the responses from more than 120 senior leaders in Scotland including CEOs, CFOs, COOs, CIOs, CHROs and NEDs. The purpose of the report was to explore priorities for the modern-day CEO and succession planning, with some intriguing findings emerging from the survey and interview responses. Participants singled out a need to improve workplace culture and diversity as a key challenge, alongside balancing profitability with improving long-term values such as environmental, social and governance (ESG).
Livingston James Consultant, Rachel Sim, explores these challenges below, with a particular focus on the role of the CIO in helping businesses overcome them.
At Livingston James, we have found ESG to be an increasingly important topic of discussion with clients and recent studies have found ‘Sustainability Manager’ roles the fastest-growing UK job vacancy, yet the number of organisations with an ESG leader in place remains relatively low, particularly for SMEs. ESG is a key consideration for C-suite executives, but many organisations have limited expertise in this area which prompted me to consider who is responsible for ESG agendas within an organisation when there is not a dedicated ESG leader.
A number of organisations are forming ESG committees with members from cross functions, with CFOs, HR and legal teams often obtaining much of this responsibility. I was surprised to find that for many organisations, technology leaders appear to be less involved in these conversations.
In today’s rapidly evolving landscape, technology and ESG have become increasingly connected. As technology continues to shape and alter industries and job profiles, its impact on ESG is something that C-suite executives should not only understand but actively exploit to ensure they maximise the impact of their ESG initiatives.
ESG reporting is paramount, however with data key to delivery and understanding impact, ESG becomes less of a stand-alone function and more closely linked to technology, making it a key concern for CIOs as ESG reporting relies heavily on accurate and comprehensive data. CIOs are tasked with establishing robust data infrastructure to ensure the collection, analysis, and reporting of ESG-related information to ensure accurate assessment of an organisation’s ESG performance. This does not simply involve meeting regulatory requirements or improving corporate image; it is about reshaping the digital landscape to ensure that organisations are future-proofed, as well as aligning digital strategies with strategic goals.
With IT traditionally being known for being a resource-intensive department, energy-efficient technologies are central to reducing consumption. For example, cloud computing enables CIOs to optimise resource usage whilst reducing organisational carbon footprint, thus improving efficiency, security and reliability, as well as reducing costs and environmental impacts – positive results all around!
Technology plays a crucial role in addressing social issues. CIOs must ensure that digital solutions contribute positively to society. This includes leveraging technology for community engagement, diversity and inclusion initiatives, as well as ethical supply chain management. CIOs should be reviewing not only internal ESG initiatives but also those of their suppliers to ensure they are partnering with organisations with shared values. CIOs are becoming advocates for technology-driven solutions that promote social benefits and also play a vital role in ensuring data security, privacy, and ethical use of technology. Adhering to strong governance practices not only protects the organisation but also enhances its reputation. CIOs are now actively involved in crafting policies that align with ESG standards to promote responsible and transparent use of digital resources and customer data.
CIOs are leveraging advanced analytics to measure and report ESG performance, which is now a key element in data strategies. By collecting and analysing relevant data, organisations can gain insights into their environmental impact, social initiatives, and governance practices, enabling them to track progress and demonstrate accountability. By embracing ESG principles, CIOs contribute not only to the betterment of their organisation but also to the wellbeing of the planet and society at large, guiding us towards a sustainable digital future.
Despite the significant contribution CIOs can make to the ESG agenda and the insight they can offer, it is important to consider contributions from the entire board and each department for driving change. A cohesive, collaborative approach will result in the biggest impact across all businesses.
To receive a copy of the Future CEO Report, please reach out to the Livingston James Team at [email protected].
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