Drive Competitive Advantage with Tech-driven ESG Measures
Drive Competitive Advantage with Tech-driven ESG Measures
People today are more aware of the importance of environmental protection and the links between sustainable development and human well-being. As a result, it is now expected that companies will incorporate Environmental, Social, and Governance (ESG) principles into their core strategies. Indeed, an impressive 93% of Asia Pacific companies have already implemented some ESG measures, according to a recent survey that included Hong Kong.[1]
With the proliferation of digital transformation in recent years, many companies now own a more solid infrastructure to deliver ESG strategies and strengthen competitive advantage by leveraging technologies. Beyond optimizing operational efficiency and meeting regulatory requirements, companies can then better fulfill the expectations of customers, partners, and the general public, cultivating a more positive corporate image and attracting top talent.
Making better use of manpower and resources
It is a common misconception that ESG initiatives will increase costs. On the contrary, one of the core values of ESG is to minimize resource consumption and achieve more with less. In fact, research by McKinsey confirms a strong correlation between resource efficiency and financial performance; by reducing resource costs, companies can potentially boost their operating profits by up to 60%.[2]
Automation is one way to enhance the efficiency of your company’s operations. For instance, you can implement robotic process automation (RPA) to streamline repetitive tasks, including internal operations like new employee onboarding and accounts payable, as well as compliance procedures such as due diligence, Know Your Customer (KYC), and anti-money laundering (AML) processes. Such automation not only significantly improves operational efficiency and reduces human error, but also mitigates potential risks and regulatory challenges, allowing your employees to focus on higher-value work.
Another approach to reducing resource waste is to minimize carbon emissions through print management solution. When employees have to verify their identify to initiate a print job, security is improved and unauthorized printing is reduced. This also means you can offer personalized usage guidance to encourage responsible printing practices and establish permissions, such as printing limits or color printing restrictions. Furthermore, by utilizing a dedicated website platform, you can access real-time and centralized information on company-wide consumables usage and equipment status. This facilitates the production of ESG reports and promotes transparency in resource management to eliminate waste and maintain equipment for improved return on investment.
Creating a flexible yet secure working environment
Employees are the cornerstone of a company's growth, and a well-defined and robust ESG proposition plays a vital role in attracting and retaining top talent. When employers have demonstrated a positive impact on society, this not only boosts employee satisfaction but also enhances overall work motivation. Conversely, a weak ESG approach can hinder employee productivity and even lead to disengagement. According to a report from last year, an astonishing 98% of APAC employees expected their companies to contribute to society, and 92% agreed that ESG is closely aligned with their own personal values.[3]
Increasingly, employees also expect companies to foster a caring and supportive work environment tailored to their specific needs. Research conducted by the Hong Kong Equal Opportunities Commission revealed that nearly 70% of local employees expect their employers to introduce flexible working hours as a means to promote work-life balance.[4]
With the aid of modern technology, it is possible to effectively meet employees' expectations for flexible working arrangements through a "Work from Anywhere" approach that creates a win-win situation. For instance, a user-friendly cloud-based management platform can streamline workflows and support the efficient management of business data, enabling seamless remote collaboration across departments and systems. In addition to mitigating the cybersecurity risks associated with an increase in the use of personal devices to access company data, managed security service led by certified IT professionals can also improve cyber resilience at every level of business operations.
Joining hands with society to promote ESG
The significance of ESG for companies is undeniable. As an advocate of Smart Workstyle, FUJIFILM Business Innovation Hong Kong is ready to assist you in your ESG journey with our technologies and expertise.
As a private company, we have been voluntarily publishing an annual sustainability report to share our ESG goals and progress with customers, employees, suppliers, business partners, local communities, and other stakeholders. Looking ahead, we will continue to lead by example and collaborate with all stakeholders to enable the use of innovative technology to drive sustainable development.
