{"id":51934,"date":"2022-10-14T07:42:00","date_gmt":"2022-10-13T23:42:00","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=51934"},"modified":"2022-10-13T10:45:16","modified_gmt":"2022-10-13T02:45:16","slug":"kyndryl-study-reveals-77-of-organizations-in-asean-are-focusing-on-sustainability","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2022\/10\/14\/kyndryl-study-reveals-77-of-organizations-in-asean-are-focusing-on-sustainability\/","title":{"rendered":"Kyndryl study reveals 77% of organizations in ASEAN are focusing on sustainability"},"content":{"rendered":"\n

Kyndryl, the world\u2019s largest IT infrastructure services provider, today announced the new findings of the recently launched\u00a0Kyndryl ASEAN Digital Transformation Study 2022<\/a>, in collaboration with technology research and advisory firm Ecosystm. The study aims to outline the key business priorities and technology trends in ASEAN enterprises, including their sustainability goals.<\/strong><\/p>\n\n\n\n

Five hundred C-suite leaders participated in the study across ASEAN, and the findings revealed that Environmental, Social and Governance (ESG) awareness is growing exponentially in the region with some industries leading the way. Despite the greater focus on sustainability, organizations are still lacking a holistic strategy and are grappling with how to integrate their data to set science-based targets, all while navigating external challenges such as stricter regulations. The results indicate that while organizations in ASEAN are aware about their responsibility to balance sustainability and profitability, there are still challenges that hinder them to set and achieve their sustainability goals.<\/p>\n\n\n\n

Several key insights from the study that highlight the state of sustainable organizations in ASEAN include:<\/p>\n\n\n\n

  1. Sustainability is an Integral Part of Business Priorities<\/strong><\/li><\/ol>\n\n\n\n

    According to the study, 77% of organizations in ASEAN are focusing on becoming sustainable organizations. They are being driven to develop and demonstrate an ESG consciousness in their actions and investment, by their customers, investors and by governments\u2019 sustainability mandates. However, many organizations pursue sustainability goals without a strategy backing them up \u2013 only 23% of organizations in ASEAN have a corporate sustainability strategy.<\/p>\n\n\n\n

    1. Organizations Often Lack a Holistic Sustainability Strategy<\/strong><\/li><\/ol>\n\n\n\n

      While the majority of organizations are focusing on budget allocation for sustainability initiatives, they have not gone beyond that to identify the right skills and data required to support the initiatives. Only 4% of organizations across ASEAN have a holistic strategy and are focusing on external and last-mile challenges such as negotiating ambiguous reporting frameworks.<\/p>\n\n\n\n

      1. Customers and Investors Drive Sustainability Efforts<\/strong><\/li><\/ol>\n\n\n\n

        Responding to customer expectations has become a norm for every successful business today \u2013 and this extends to environmental and social consciousness. In fact, customers are driving environmental and social responsibility in organizations; in most cases more than regulations are. This is especially true in Philippines, Indonesia and Thailand.<\/p>\n\n\n\n

        1. Data is a Leading Challenge for Sustainability Initiatives<\/strong><\/li><\/ol>\n\n\n\n

          The study finds that the leading barriers to sustainability projects in ASEAN are: 60% operational costs, 55% data availability and 50% lack of dedicated resources. This confirms that organizations\u2019 sustainability initiatives are still at preliminary stage. In today\u2019s data-driven world, it is very likely that organizations have access to the data needed for their sustainability efforts. But it is often not integrated within their overall data strategy that helps identify the right data sets, collect the necessary data across all operations, and has embedded analytics for the right insights.<\/p>\n\n\n\n

          1. The Media & Telecom Industry is Ahead of the Curve<\/strong><\/li><\/ol>\n\n\n\n

            While sustainability initiatives are yet to mature, some industries are leading the way in their strategies, and especially in their initiatives. Media & Telecom and Energy & Utilities for example, are among the most mature industries given the incentives to adopt sustainable practices are cost-related and for future survival. Other industries that have initiated smaller eco-friendly measures have also found some early success and this includes the Retail industry where there has been focus on reducing the use of plastic in packaging and procuring locally to reduce carbon footprints.<\/p>\n\n\n\n

            \u201cIn today\u2019s evolved economies, an organization\u2019s relevance and success will be measured both in terms of financial and climate aspects. This has spurred organisations to appoint Chief Sustainability Officers and highlighted the growing importance of sustainability skillsets for tomorrow\u2019s workforce. This research highlights how the lack of data consistently hinders an organization\u2019s sustainability planning,\u201d said Ullrich Loeffler, CEO, Ecosystm. \u201cWhile sustainability is an integral part of many businesses in ASEAN, there is a lot more that needs to be done to build sustainability competencies and fully understand what data organizations have access to and identify the data gaps to support corporate sustainability goals.\u201d<\/p>\n\n\n\n

            \u201cAs ASEAN is predicted to become the fourth largest economy in the world by 2030, there is a now a huge responsibility for businesses in the region to balance the long-term imperative of a net-zero future with the short-term need to safeguard the bottom line,\u201d said Wilson Go, Managing Director, Kyndryl Philippines. \u201cI strongly believe that the success of sustainability lies in how well an organization can integrate its people, processes and technology to achieve a common goal. To achieve this goal, we need to put people at the centre and embed sustainability principles at all levels of the organization culture.\u201d<\/p>\n\n\n\n

            At Kyndryl, ESG strategy is at the heart of the organization\u2019s mission to become a purpose-driven company. Kyndryl\u2019s strategic focus is to continue to grow its Cloud business, to enable an estimated 22-39% increase in energy efficiency. The company will also continue the expansion of renewable energy across its portfolio, growing it to 75% within the next few years for all of its data centres.<\/p>\n","protected":false},"excerpt":{"rendered":"

            77% of organizations in ASEAN are focusing on becoming sustainable organizations. They are being driven to develop and demonstrate an ESG consciousness in their actions and investment, by their customers, investors and by governments\u2019 sustainability mandates. <\/p>\n","protected":false},"author":6,"featured_media":51935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2550,7437,5972,6157],"class_list":["post-51934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-white-papers","tag-corporate-social-responsibility","tag-kyndryl","tag-sustainability","tag-sustainability-efforts"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/51934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=51934"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/51934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/51935"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=51934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=51934"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=51934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}