The sentiment to build responsible and purpose-driven organizations is rising within the engineering industry, and sustainable product development is getting closely linked with Environmental, Social, and Governance (ESG) concerns.
To ride the ESG wave, enterprises are making significant investments to enable sustainable business operations and present a strong value proposition for ESG.
Everest Group assists clients with research that addresses highlights the key challenges that enterprises will face as they invest in sustainable product development and provides a roadmap to help enterprises scale adoption, while describing how service providers can help tackle some of the challenges.
Digital technologies such as data analytics, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), 5G, cybersecurity and safety, and Augmented Reality / Virtual Reality (AR/VR) are driving growth in engineering and R&D.
With digital becoming more and more imperative to lifestyles today, it is necessary for organizations to identify global technology-driven disruptions that will shape investments and opportunities over the coming years to understand the implications on businesses, industries, and the larger community.
To address the changing market dynamics, engineering enterprises are increasing their ESG commitments to include themes such as decarbonization, emissions reduction, waste management, circular economy (link to circular economy page), workforce health and safety, women empowerment, protection of human rights, board diversity and structure, and protection of shareholder interests.