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

Archana Saxena, Rajesh Singh, Anita Gehlot, Shaik Vaseem Akram, Bhekisipho Twala (), Aman Singh, Elisabeth Caro Montero and Neeraj Priyadarshi ()
Additional contact information
Archana Saxena: Uttaranchal Institute of Management, Uttaranchal University, Dehradun 248007, Uttarakhand, India
Rajesh Singh: Uttaranchal Institute of Technology, Uttaranchal University, Dehradun 248007, Uttarakhand, India
Anita Gehlot: Uttaranchal Institute of Technology, Uttaranchal University, Dehradun 248007, Uttarakhand, India
Shaik Vaseem Akram: Uttaranchal Institute of Technology, 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
Elisabeth Caro Montero: Higher Polytechnic School, Universidad Europea del Atlantico, C/Isabel Torres 21, 39011 Santander, Spain
Neeraj Priyadarshi: Department of Electrical Engineering, JIS College of Engineering, Kolkata 741235, West Bengal, India

Sustainability, 2022, vol. 15, issue 1, 1-17

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.

Keywords: ESG; sustainability; SDGs; Industry 4.0; IoT; artificial intelligence; big data; ESG reporting (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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