What we learned at CES: unlocking the potential of ESG strategies through digital solutions

At CES 2023, attendees were taken on a thought-provoking expedition to explore how the next wave of technology could shape a more sustainable future. From tractors that use AI to blockchain that allows transparent tracking of products through the supply chain, this event showed us what's in store for all those invested! ?

As leaders in the modern business landscape, implementing Environmental, Social, and Governance (ESG) strategies and digital solutions is becoming increasingly crucial for future success. With social justice and environmental initiatives on the rise – and consumer pressure to match – seeking best practices that drive positive returns has never been more vital. Fortunately, technological advances have enabled us to navigate this complex topic with data-driven precision while uncovering actionable insights that solve global sustainability issues. Start your roadmap to an ESG-aligned business – read on for more of what we learned at CES!?

Environmental: ?

Technologies aimed at improving farming?

Innovative technologies are vital in improving farmers' jobs and making their practices more sustainable. At CES, John Deere CEO John May demonstrated how sustainability and cutting-edge technology could work together to solve one of our most pressing issues - ensuring food security for a rapidly expanding world population. John Deere's fully autonomous tractor helps with more efficient planting and harvesting operations. Improved analytics allow farmers to make informed decisions regarding crop selection, pricing strategies, and overall yield optimization. This technology also allows modern farmers to monitor soil health, manage water usage more effectively, detect pests quickly, apply fertilizers judiciously, reduce waste through improved storage systems, and many other activities previously too tedious and challenging for manual labor alone, helping conserve resources.??

Environment and sustainability??

Undeniably, the environmental and sustainability industries are critical sources of growth in the post-pandemic era. Investing in these sectors has become essential, as they provide financial security and set a positive example of protecting the planet and promoting holistic health. Contributing to these industries could help improve air quality, reduce pollution, and conserve our planet's precious resources. By investing in clean energy sources such as solar, wind, or geothermal power, it is possible to reduce emissions and slow down global warming. Investing in sustainable infrastructure projects like reforestation initiatives or water filtration systems helps protect natural resources from deterioration and contamination. Moreover, new technologies like blockchain can bring transparency and increase efficiency when tracking products through the supply chain.?

Social:?

Mental health??

Mental health is a significant issue in the modern world, with the pandemic only exacerbating stressors in our lives. Crypto technology can help provide financial stability to those struggling with mental health issues while offering access to more effective mental health treatments. Blockchain-based tools offer the potential to store personal health data securely while giving users control over who has access to their information. Providers can use it to fund preventive measures such as therapy programs or community outreach initiatives. Additionally, cryptocurrency provides more privacy than traditional payment methods when seeking mental health services.?

The future of work??

The world is rapidly changing regarding how we work, with digitalization, opening possibilities we would never have dreamed possible just a few years ago. Speakers Elizabeth Gore from Hello Alice and Jenny Abramson from Rethink Impact discussed how AI plays an increasingly important role in how we work - not only can it automate complex job roles, but it can also enable new types of jobs which rely heavily on data analysis and digital solutions. Investing in companies working on AI technology that will enhance current job roles or create entirely new ones offers substantial financial and social potential returns, making it one area with plenty of growth opportunities for investors.?

Governance:??

Innovative economy??

Adena T Friedman of?NASDAQ and Gary Shapiro of the Consumer Technology Association spoke on how governance policies can guarantee new companies' entrance based on technology and the environment, which is critical for creating an innovative economy that allows even the most minor players in the market. Companies must leverage data to make better decisions about the future of businesses and become more aligned with AI-based tools so people can use them properly and efficiently within society. ?

Digital equity?

Members of the US Senate came together at CES to discuss emerging tech challenges. Digital equity is a primary issue regarding governance, especially since only some have access to or knowledge of technology and its various devices. Solutions must focus on training and setting people's mindsets towards tech so they can prepare for how it will shape their lives and careers, such as retraining programs specifically tailored for those who need support and mentorship when adapting to technology-driven jobs or activities.?Another challenge in governance is ensuring that 5G is available in as many communities as possible. They also stated that investing in biotechnology to fuel innovation in the digital space would benefit the country's future.?

Education and?investment??

Lastly, investment into education about technology should also be a priority for any governing body that wants a successful digital future for its citizens. This refers to financial resources and time invested into teaching people how technology works and how it can benefit them personally or professionally. Furthermore, investment into research and development technologies such as AI should also be encouraged so that advancements continue despite a lack of resources or expertise.?

The potential for technology to help lead us toward a more sustainable and equitable future is clear, and CES 2023 provided an important platform to drive this progress. Despite the genuine challenges of combining the Environmental, Social, and Governance (ESG) practices into one cohesive strategy, there are potential solutions ahead. From understanding the need for environmental change to utilizing technologies to make farmers' jobs more manageable and even looking towards AI for social development progress, emerging tech, in tandem with ESG strategies, offer pathways for growth on multiple levels. In an increasingly digital world economy, we must create tangible solutions to rethink economic regulation and educational access to ensure digital equity. Now more than ever, it is vital that we consider how we can leverage new technologies to help lead us toward a better future. Only through deep reflection and creative analysis can we move closer to solutions that will build a resilient environment, empower communities, strengthen the economy, and promote mental health. How do you think nascent technology will impact ESG practices? Let us know!?