With the sentiment to build responsible and purpose-driven organizations rising within the engineering industry, engineering operations are getting closely linked with Environmental, Social, and Governance (ESG) concerns. To ride the ESG wave, enterprises are making significant investments to enable sustainable business operations and present a strong value proposition for ESG. Environmental disasters, equipment and machinery accidents, compliance, changing demographics, risk mitigation, business opportunities, and an emphasis on doing good for the planet have driven the focus of engineering enterprises to ESG. Furthermore, the next-generation workforce is gravitating to companies that follow ethical and sustainable policies, while investors/clients prefer enterprises with strong ESG propositions.
To address the changing market dynamics, engineering enterprises are increasing their ESG commitments to include themes such as decarbonization, emissions reduction, waste management, circular economy, workforce health and safety, women empowerment, protection of human rights, board diversity and structure, and protection of shareholder interests. To support engineering enterprises, the ESG partner ecosystem, including engineering service providers, consulting and auditing providers, and software and analytics providers, are expanding their service portfolios.
In this viewpoint, we highlight the key ESG implications for major industries across the engineering landscape, ESG adoption across industries, the role of ecosystem partners in ESG adoption, and the key challenges that enterprises need to address in their ESG journeys.
Scope
Industry: engineering services, sustainability technology and services
Geography: global
Contents
This report discusses:
- The relevance of ESG in engineering
- ESG adoption across industries in the engineering landscape
- The role of ecosystem partners in ESG adoption
- Challenges in ESG adoption
- The way forward for ESG in engineering
Membership(s)
Engineering Services
Sourcing and Vendor Management
