SLASSCOM’s ESG aspiration within the IT BPM Industry
SLASSCOM’s Sustainability strategy
Today we compete in a global market for Business and if SLASSCOM is to win, we need to address the ‘Code Red for Humanity’ by differentiating Sri Lanka as a leader in ESG (Environment, Social and Governance) strategy that will be a key influencer for prioritizing Sri Lanka as its strategic partner ahead of other unsustainable destinations. By making Sri Lanka a ‘Sustainable IT/BPM Solutions’ provider would be a key value driver and differentiator that would fuel the growth of the industry while contributing significantly towards global and national sustainable development priorities.
SLASSCOM partnered with the United Nations Resident Coordinator’s Office in Sri Lanka and an expert advisory team to create the ESG strategy in collaboration with multiple stakeholders within and outside the industry. The ESG strategy would be embedded into the industry’s overall multi-year strategy. An advisory group and an operational executive committee were established consisting of industry representatives and corporate sustainability experts to support the development and implementation of the sustainability strategy
Along with SLASSCOM’s goal to be a USD 5 billion export industry fueled by 1,000 start-ups employing 200,000 highly skilled professionals by 2025, that our industry requires an ambitious goal in ESG. One of the key goals is to create awareness and seek the commitment of as many IT/BPM member companies to commence its sustainability journey and support the country to emerge as the green energy driven IT/BPM destination
The IT/BPM industry will find that Embarking on a sustainability journey is not only the right thing to do but will result in immense strategic business benefits.
Additionally, as ESG investing accelerates in demand, several key trends are emerging – from climate change to social unrest. The coronavirus pandemic, in particular, has intensified discussions about the interconnectedness of sustainability and the financial system
Despite its increasing importance, there is not a standardized approach to the calculation or presentation of different ESG metrics. Understanding the relative merits and limitations of different metrics can help to form a more complete picture of ESG risks and opportunities. Environmental criteria consider how a company performs as a steward of nature. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. Effective evaluation and control of these factors will benefit the local IT/ BPM industry as a whole, attracting foreign investors and clients.”