In today's businessworld, companies are increasingly being asked to minimize their environmental impact, take on social responsibility, and hold themselves to higher ethical standards. But many companies struggle to implement their ESG goals and don't know exactly where to start.
One solution that can help companies achieve their ESG goals while streamlining their inventory processes is circular asset management.
With this article, you will find out...
Make your company a pioneer in ESG. Let's discover together how circular asset tracking can lead your company to a more sustainable future.
>>> or find out directly here how you can start as a company in the circular economy
What is ESG?
ESG stands for Environment, Social and Governance and refers to the sustainable practices of your company. These three areas are closely linked and influence each other.
The environmental aspect of ESG concerns the way you use natural resources and minimize your impact on the environment. This includes, for example, energy efficiency measures, biodiversity protection, and greenhouse gas emissions reduction.
The social aspect of ESG refers to the way you protect the rights and welfare of your employees, customers and other stakeholders. This includes, for example, measures to improve working conditions, prevent discrimination, and promote gender equity.
The governance aspect of ESG refers to the way your company is managed and how it ensures that the interests of all stakeholders are taken into account. This includes, for example, measures to ensure transparency, prevent corruption, and ensure independent and effective oversight.
Overall, ESG is about promoting sustainable practices in all areas of your business and ensuring that the long-term interests of all stakeholders are considered. More and more investors are choosing to invest in ESG-compliant companies because they believe that these companies tend to perform better and have lower risk.
Circular asset management and ESG
With the introduction of circular asset management, we have created a method to avoid scrapping and waste by using resources as long and as efficiently as possible and also reusing them in the end. In the process, your company's ESG compliance is improved across the board.
E - Environment:
In terms of ESG management, circular asset management can help reduce the environmental impact of producing goods and using resources. By reusing materials and extending the life of products, you can help reduce greenhouse gas emissions and minimize the use of natural resources.
S - Social:
Circular asset management also helps to integrate social responsibility as part of ESG management. It creates transparency about the history of used inventory and brings equipment in good condition back to consumers at reasonable prices. Extending the life of equipment can open up new ways of adding value, such as repairing products, which creates new jobs thus reducing unemployment. The use of resources and the production of waste are also reduced, contributing to an improvement in the quality of life of your workers.
G - Governance:
Last but not least, circular asset management helps to address governance aspects of ESG management. By reducing dependence on natural resources and reducing environmental impact, you can reduce the risk of legal and regulatory changes. By promoting transparency and accountability, you will also increase building trust in your company.
The seventhings Circularity Hub as a first step into circular asset management
With the Circularity Hub from seventhings, you can make your inventory and your company fit for the circular economy. If you want to learn more about the circular economy, here you can find the circular economy blog post. With the Circularity Hub, you can dispose of no longer used inventory in a few clicks.
- sell to your employees
- pass them on to external parties or
- send them for refurbishment.
Verified data deletion and certification of the amount of CO2 saved is also offered. The seventhings Circularity Hub helps you with comprehensive and sustainable end-of-life management, reduces complexity in your processes and saves your company money.
