How to Meet ESG Goals with Electronics Reuse
How does the reuse of electronics help achieve the ESG goals within your organisation?
Electronic waste (e-waste) is an emerging global problem that also poses unique opportunities for organisations that adhere to ESG goals. How are the two correlated and how can ESGs help to mitigate the problem of e-waste around the world?
What are ESGs?
Within the past decade, the Environmental, Social, and Corporate Governance (ESG) goals have taken the spotlight for investors and global organisations have been quick to adapt. ESG investing is increasingly important for socially responsible retail and institutional investors that care about more than just profit-seeking and instead want to see a dedication to certain key performance indicators (KPIs) of their investments.
It is estimated that from a survey conducted in 2020, nearly 58% of investors have shown interest in ESGs for investing while 19% of respondents consider ESG when selecting amongst investment opportunities. These results show that ESGs have impacted strategic decision-making within organisations and therefore are important for attracting investors as well as for fulfilling internal CSR criteria within organisations.
ESGs and ITAD
When it comes to resolving the e-waste crisis, the environmental aspect of ESGs may come to mind first. This is rational, since e-waste is certainly an obvious factor that negatively affects the environment. Environmentally sustainable practises are therefore important for reducing the impact of e-waste, which may include electronics recycling or reuse.
The other factors are also important, however. In terms of the social and corporate governance aspects, Forbes has reported that the growing threat of cyberattacks and data governance have become principal concerns for Big Tech and many other global organisations.
Thus, the social aspect of ESGs can be met by IT Asset Disposition (ITAD) through strategies that satisfy both ESG goals as well as internal CSR initiatives. Corporate governance can be satisfied through the proper sanitisation and safeguarding of data, auditable and accountable data destruction processes, and risk management strategies that involve ITAD processes.
ITAD and Device Reuse
Within ITAD, there are many processes that can help an organisation achieve CSR initiatives for sustainability as well as ESG goals in order to improve their ratings. An ITAD Company should always be willing to offer services that are simultaneously cost-efficient and sustainable, thereby maximising the ROI on redundant IT assets whilst minimising needless e-waste.
Device reuse, whenever feasible, is an attractive method of diverting e-waste from landfills. It is also a means of approximating a Circular Economy model, such as the circular economy used by Wisetek. By reusing what would otherwise be waste, the IT asset instead has a prolonged lifespan, does not go to a landfill (Wisetek has a Zero-Landfill Policy), and improves the ROI on the asset since a share of the profits of the remarketed device are issued.
This makes IT asset reuse a “win win win” for the environment, profitability, and for consumers looking for affordable refurbished devices. In the case of Wisetek, all of our refurbished products are available for purchase at Wisetek Store, our e-commerce platform.
The Problem(s) with E-Waste Recycling
Another reason why electronics reuse is a ‘win’ for organisations is that it’s far superior to landfill disposal and still superior to e-waste recycling. Data Destruction and Hard Drive Destruction sometimes requires recycling, but few organisations are capable of managing the complexity of e-waste recycling as noted in a report by Allianz. While a reputable ITAD company such as Wisetek can and will properly recycle e-waste, the constituent materials that go into modern electronics can still be a burden to properly recycle.
Consequently, e-waste reuse is superior to recycling and should be the first consideration so long as the IT asset can be reused, in whole or in part. Due to the rapid obsolescence of many modern electronics, this may not always be possible, but in many cases organisations dispose of IT assets well before their actual end-of-life and could be generating a profit by remarketing the asset rather than designating it for e-waste disposal.
How are Redundant IT Assets Reused?
Depending on the condition of any given IT asset, it may be possible to refurbish it and remarket it on a platform such as Wisetek Store. If a component is faulty or damaged but the remainder is in good condition, perhaps a minor repair is all that’s needed to render it perfectly usable once more.
Organisations must also consider data security, however, which is why it is always important to consult a reputable ITAD company such as Wisetek. Just because an old IT asset can be refurbished doesn’t mean that emptying out the Recycle Bin or even performing a fresh installation of Windows is ‘good enough’ – far from it!
Redundant IT assets, no matter their condition, must have all sensitive data securely destroyed. Assets that must be recycled can be punched or shredded while those that can be reused must have their data wiped through other, non-physically destructive means that renders all sensitive data completely irretrievable.
Remarketing IT Assets Through Wisetek Store
Wisetek’s expertise in ITAD and data security serve as an ideal foundation for professional refurbishment that is both profitable and safe in terms of data security. By remarketing IT assets as refurbished products through the Wisetek Store, organisations can meet sustainability goals and satisfy CSR initiatives as well as improve their ESG ratings since e-waste is diverted completely from landfills.
Organisations that are trying to improve their ESG ratings can thus benefit from the quantifiable e-waste diversion by choosing to refurbish and remarket IT assets rather than dispose of them in less sustainable ways.
Improve Your Organisation’s ESG Efforts with Services from Wisetek
Wisetek is a global leader in professional ITAD services, including Data Centre Services such as Data Centre Decommissioning. We also provide various IT Solutions as well as IT asset refurbishment and remarketing through our e-commerce platform, Wisetek Store (Wisetek Store UK).
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