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Technologies Empowered Environmental, Social, and Governance (ESG): An Industry 4.0 Landscape

Author

Listed:
  • Archana Saxena

    (Uttaranchal Institute of Management, Uttaranchal University, Dehradun 248007, Uttarakhand, India)

  • Rajesh Singh

    (Uttaranchal Institute of Technology, Uttaranchal University, Dehradun 248007, Uttarakhand, India
    Department of Project Management, Universidad Internacional Iberoamericana, Campeche 24560, CP, Mexico)

  • Anita Gehlot

    (Uttaranchal Institute of Technology, Uttaranchal University, Dehradun 248007, Uttarakhand, India
    Department of Project Management, Universidad Internacional Iberoamericana, Campeche 24560, CP, Mexico)

  • Shaik Vaseem Akram

    (Uttaranchal Institute of Technology, Uttaranchal University, Dehradun 248007, Uttarakhand, India
    Law College Dehradun, Uttaranchal University, Dehradun 248007, Uttarakhand, India)

  • Bhekisipho Twala

    (Digital Transformation Portfolio, Tshwane University of Technology, Staatsartillerie Rd., Pretoria West, Pretoria 0183, South Africa)

  • Aman Singh

    (Higher Polytechnic School, Universidad Europea del Atlantico, C/Isabel Torres 21, 39011 Santander, Spain
    Department of Engineering, Universidad Internacional Iberoamericana, Arecibo, PR 00613, USA)

  • Elisabeth Caro Montero

    (Higher Polytechnic School, Universidad Europea del Atlantico, C/Isabel Torres 21, 39011 Santander, Spain
    Department of Project Management, Universidade Internacional do Cuanza, Estrada Nacional 250, Bairro Kaluapanda, Cuito EN250, Bié, Angola)

  • Neeraj Priyadarshi

    (Department of Electrical Engineering, JIS College of Engineering, Kolkata 741235, West Bengal, India)

Abstract

Currently, sustainability is a vital aspect for every nation and organization to accomplish Sustainable Development Goals (SDGs) by 2030. Environmental, social, and governance (ESG) metrics are used to evaluate the sustainability level of an organization. According to the statistics, 53% of respondents in the BlackRock survey are concerned about the availability of low ESG data, which is critical for determining the organization’s sustainability level. This obstacle can be overcome by implementing Industry 4.0 technologies, which enable real-time data, data authentication, prediction, transparency, authentication, and structured data. Based on the review of previous studies, it was determined that only a few studies discussed the implementation of Industry 4.0 technologies for ESG data and evaluation. The objective of the study is to discuss the significance of ESG data and report, which is used for the evaluation of the sustainability of an organization. In this regard, the assimilation of Industry 4.0 technologies (Internet of Things (IoT), artificial intelligence (AI), blockchain, and big data for obtaining ESG data by an organization is detailed presented to study the progress of advancement of these technologies for ESG. On the basis of analysis, this study concludes that consumers are concerned about the ESG data, as most organizations develop inaccurate ESG data and suggest that these digital technologies have a crucial role in framing an accurate ESG report. After analysis a few vital conclusions are drawn such as ESG investment has benefited from AI capabilities, which previously relied on self-disclosed, annualized company information that was susceptible to inherent data issues and biases. Finally, the article discusses the vital recommendations that can be implemented for future work.

Suggested Citation

  • Archana Saxena & Rajesh Singh & Anita Gehlot & Shaik Vaseem Akram & Bhekisipho Twala & Aman Singh & Elisabeth Caro Montero & Neeraj Priyadarshi, 2022. "Technologies Empowered Environmental, Social, and Governance (ESG): An Industry 4.0 Landscape," Sustainability, MDPI, vol. 15(1), pages 1-17, December.
    • Handle: RePEc:gam:jsusta:v:15:y:2022:i:1:p:309-:d:1014300
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    References listed on IDEAS

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    2. Ashwag Madkhali & Seedwell T. M. Sithole, 2023. "Exploring the Role of Information Technology in Supporting Sustainability Efforts in Saudi Arabia," Sustainability, MDPI, vol. 15(16), pages 1-20, August.
    3. Asif, Muhammad & Searcy, Cory & Castka, Pavel, 2023. "ESG and Industry 5.0: The role of technologies in enhancing ESG disclosure," Technological Forecasting and Social Change, Elsevier, vol. 195(C).

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