With sustainability on everyone’s minds, there’s a growing number of companies committed to sustainability. But being committed is not enough – the real challenge lies in creating a tangible strategy backed by data and progress reports. That’s where the ESG (environmental, social, and governance) framework comes in handy. ESG provides a holistic view of how an organization manages risks and opportunities around sustainability issues. By aligning business practices with ESG objectives, companies can become a force for positive change in their communities and beyond.
ESG Strategy: More Than A Tick-Box Exercise
By adopting ESG policies and goals, businesses can streamline their operations, reduce costs, and realize significant ROI. Additionally, ESG strategy can serve as a catalyst for innovation, providing new avenues for growth and development. Investing in ESG not only benefits companies but can also improve investor relations, enhance employer branding, and make it easier to attract and retain top talent. With so many benefits to offer, the importance of ESG cannot be overstated, as it should be viewed as a key success factor rather than a mere add-on.
Environmental factors in ESG analysis consider an organization’s impact on natural resources and management of climate risks. This entails looking at direct and indirect greenhouse gas emissions and overall resilience against physical climate risks like flooding and fires.
The social pillar of ESG involves analyzing how an organization engages with stakeholders, including fair wages and employee engagement, as well as their impact on the communities they operate in. Additionally, supply chain partners in developing economies are evaluated to ensure environmental and labor standards are met.
Corporate governance is evaluated to see how an organization is led and managed. ESG analysts analyze incentives, alignment with stakeholder expectations, shareholder rights, and internal controls that promote transparency and accountability on behalf of leadership.
Businesses that see ESG as a crucial factor for an organization’s long-term success also understand that consumers aren’t only buying their product or service, and investors aren’t just looking for profit. Modern customers care about the purpose and the values of the brand they buy from. Investors and regulators want to be associated with organizations that take accountability and responsibility for their impact on the environment and society while aligning with political and fiscal regulations.
Can Innovation Be The Key To Sustainability?
To operate in a more sustainable manner and follow up on their ESG goals, businesses can take different measures and action points. One of the action points, for example, can be reducing their carbon footprint. Traveling is a big – and costly – part of business activities, especially in the corporate world. From daily commuting in cars to (intercontinental) flights, traveling has a substantial impact on our environment. Considering business travel (and the various associated costs) isn’t something we can completely eliminate yet, as an alternative, we introduced digital technology and online solutions to support our remote communication.
Even though the online approach works, we can all agree there’s definitely room for improvement. Mainly because face-to-face communication still exudes a level of trust and understanding that can’t be accomplished through online communication and interaction. When people meet in person, they can read body language, tone of voice, and facial expressions, which help to build trust and establish strong, long-lasting business relationships.
The million-dollar question is how can we implement more effective ways to travel and do business generally while staying committed to our sustainability goals?
To stay ahead of the competition, leading companies recognized the importance of utilizing technology from the onset. By utilizing cutting-edge solutions such as AI, and IoT, businesses can analyze, minimize, and optimize their environmental impact. Thanks to many innovations in display technology and a significantly faster and more expansive global internet, hologram technology has become one of these innovative solutions, providing a better alternative to traveling and interactive ways to communicate. But there are many more outstanding benefits that holograms can bring to the table.
Benefits Of Hologram Technology
From reducing carbon emissions and saving your time to improving collaboration and attracting top talent, hologram technology holds an impressive number of gains. It has the potential to revolutionize the way we interact with each other and how we impact our environment, making it a powerful ally when it comes to reaching ESG objectives.
Let’s take a closer look at the most critical advantages and why holograms can help you move toward a more eco-friendly future and transform how you communicate with your audience:
- Reduce Carbon Footprint
CEOs, thought leaders, and keynote speakers, are always on the move. To ensure their message reaches global audiences, they are usually forced to travel most of their time to be present at different events and shows. While sharing knowledge and meeting new people is rewarding and positive, lots of traveling is also time-consuming, tiring, and has a seriously negative impact on the environment. According to The Guardian, taking a long-haul flight generates more carbon emissions than the average person in dozens of countries around the world produces in a whole year. For example, flying from New York John F. Kennedy to Paris Charles de Gaulle and back generates about 922 kg CO2. There are 54 countries where the average person produces less CO2 in a year!
Holograms aren’t only eco-friendly and guarantee to help you leave an unforgettable impact on your audience. Instead of physically traveling to your next speaking engagement, why not beam in using the power of holographic technology to wow your audience and save the planet at the same time?
- Save Time And Money
In today’s fast-paced world, time is of the essence, and everyone is looking for ways to save it. This is especially true for companies and businesses whose operations demand enormous time, money, and effort. Holograms are changing the way we interact with each other and can help people save time and money. With holograms, there’s no need to travel, you can beam from any location in the world to another in a matter of milliseconds.
- Improve Work-Life Balance
Good work-life balance is a key aspect of the new way of working, but finding (and keeping) this balance can be challenging, especially for business owners and subject-matter experts who need to travel often and can’t always follow their routines. Meetings, conferences, and events take up significant time, and it’s common for people to spend long hours on the road, on planes, and in hotels. Other challenges of travel are jet lag, lost luggage, flight cancellations, and delays. Travelers often feel exhausted and stressed, and it takes time to recover once they get to their destination. However, with the use of hologram technology, these nuisances are eliminated. Remote participation becomes more efficient and effective, improving professionals’ work-life balance.
- Enhance Collaboration
Hologram technology offers a meaningful solution to interact remotely with the same sense of presence as being there in person. Speaking with someone appearing as a hologram feels natural and organic, which opens the door to deeper connections, bringing individuals who are far away into spaces that they may not be able to appear at regularly. Luckily, connecting with colleagues this way just became very easy! Check out available ARHT Capture Studios at various WeWork locations worldwide, and experience the magic of holographic telecommuting.
- Boost Customer Engagement
By implementing holographic technology in a creative way, companies can deliver exceptional customer experiences while saving on space and resources. Thanks to an innovative high-tech approach and 3D presentations, businesses can create memorable interactions that will attract, entertain and educate customers. Smartech is a great example of how a company can engage with its audience in unique ways. Smartech partnered with ARHT to provide Selfridges in London with an interactive hologram kiosk developed for the retail sector. Smartech’s goal is to improve customer experiences continuously and to achieve this, the company turned to ARHT’s interactive touchscreen hologram display, ARHT CAPSULE, to showcase interactive 3D content, short tutorials, master classes with educators, and more, leading to an increase in customer engagement and interaction, product understanding, and brand awareness.
- Attract & Retain Talent
In today’s workforce, top talent, especially from the millennial and Gen Z generations, prioritize environmental, social, and governance (ESG) issues. As they make up a growing percentage of employees worldwide, it is crucial for employers to understand their values and what they are looking for in the workplace. By incorporating hologram technology, businesses can not only attract and retain top talent but also appeal to younger employees who place importance on purpose-driven initiatives and technological innovation as part of company culture. With the competition for skilled professionals increasingly fierce, embracing hologram technology can give businesses a valuable edge in the war for talent.
- Boost Your Brand Equity And Position Yourself As An Innovator
Lastly, holograms can enhance companies’ sustainability image, thus gaining a competitive advantage. As companies continue to embrace eco-friendly practices and technologies, using holograms shows the company’s commitment to sustainable operations. This approach can attract environmentally-conscious customers, increase public goodwill, and potentially attract investors. An organization that fosters this approach stands out and leads the way in adopting new business practices in the most impactful and engaging manner.
Together For A Brighter Future
Businesses are increasingly turning to technology to achieve their sustainability and ESG goals. One of the innovative solutions to accomplish these objectives is hologram technology. What first emerged as a futuristic concept from science fiction movies, holograms are now accessible to businesses and allow for meaningful real-time communication with an audience of any size across the globe. By utilizing holograms, organizations can meet their goals faster, reduce their carbon footprint, and improve employee satisfaction.
If you’re looking for ways to decrease operational costs and boost brand equity, maybe it’s time to consider hologram solutions and try them out — after all, why wouldn’t you want to reap the many benefits they bring? With so much potential, one straightforward decision could make a difference in your sustainable journey.
At ARHT, we’re leading the way in live hologram technology. With our cutting-edge end-to-end technology, executives, educators, medical professionals, performers, and influencers can travel to any location at the speed of light. We capture, transmit, and project lifelike holograms of presenters, creating unforgettable live interactions with remote audiences.
Interested in exploring more about this topic and learning how holograms can help you transform your business? Don’t hesitate to reach out to our team!
