Inadequate Data Hurts ESG Efforts In More Ways Than One
CIODIVE, April 17th, 2023
Despite technological advances, inadequate data undermines corporate sustainability initiatives and erodes consumer trust, according to a Monday IBM report. The company surveyed 2,500 executives across 22 industries and more than 20,000 consumers in 34 countries.
While nearly three-quarters of executives believe their companies successfully communicated environmental, social and governance performance, only 1 in 5 consumers surveyed said they trust ESG reporting, down from nearly half two years ago.
Data deficiencies widened the gap between progress and perception, the report said. More than 2 in 5 executives ranked data as a top barrier to ESG progress. Similarly, only 2 in 5 consumers said they had sufficient information to make sustainable purchasing decisions.