How IEQ monitoring can help businesses address the ‘Social’ element in ESG?
A study by Harvard Business Review found that companies with strong ESG performance were more likely to have a diverse and inclusive workforce, which in turn was linked to better financial performance.
But ESG has several other benefits and due to these benefits, it has become important in recent years. Some of the key reasons that make ESG reporting important are:
- Growing concerns about climate change
- Consumers & investors becoming increasingly aware about benefits of ESG
- Laws & regulations that require businesses to declare their ESG goals and initiatives
- Growing evidence that companies with strong ESG practices perform better financially
- And most importantly reputation & organizational equity
The ‘Social’ element of ESG plays a pivotal role for businesses as it recognizes that companies have a responsibility to address social issues, build positive reputations, mitigate risks, engage with stakeholders, drive innovation, and create long-term value for all stakeholders.
Workplaces and offices nowadays play an important role in addressing the ‘S’ of ESG.
The most important role that workplaces, offices, and built environments play is by addressing the health and well-being of its occupants. When we are inside an office, workplace or a building, the indoor environment quality significantly impacts our physical, mental, and social health.
Impact of IEQ on occupant health and well-being
Breathing in a polluted indoor air, exposing to contaminated surfaces or drinking water which may not be pure and healthy at workplaces can pose several risks to your physical health. Some side effects of prolonged exposure to indoor air pollutants and RO water include asthma, respiratory ailments, increased risk of heart attack, hypertension, coronary heart disease, and much more.
In some extreme cases, poor indoor air quality in a building can lead to ‘Sick Building Syndrome’ as well.
Similarly, working on an unhygienic work desk or eating in a not so hygienically sanitized cafeteria table can make you sick and over a year contribute to a significant number of sick leaves thereby, affecting your productivity, morale, and confidence at workplace.
Low productivity and morale at workplace make you feel isolated or depressed and is known to negatively impact your mental and social health at work. Indoor air quality of a workplace has a direct correlation with employee productivity.
As per a research by Harvard T.H. Chan institute, poor indoor air quality affects employee cognitive abilities and overall productivity at work.
Therefore, indoor environment quality plays a crucial role in helping businesses truly address the ‘Social’ element of ESG by addressing the health and wellness of its employees or occupants.
Addressing the ‘Social’ element in ESG
Hygieneo, an IoT based SaaS solution for monitoring indoor environment quality parameters like quality of indoor air, surface hygiene, and water hygiene can help organizations take care of the ‘Social’ element in ESG.
Measuring, monitoring, and reporting indoor environment quality parameters with our first-of-its-kind SaaS can allow businesses to address the ‘Social’ element of ESG in many ways than one:
- Health and well-being of building occupants: Buildings can significantly influence the health and well-being aspect of its occupants. Real-time monitoring and timely remediation of IEQ parameters with Hygieneo can foster a healthy, hygienic, and sustainable indoor environment.
- Social responsibility: Taking measures to safeguard employee
health and wellness demonstrates organization’s commitment towards social responsibility and sustainability. Additionally, adopting IoT solutions to monitor IEQ can help organizations to be better prepared for any future outbreaks of covid-like air borne viruses.
- Experience and comfort: A safe and hygienic indoor environment
promote collaboration, boosts employee confidence, satisfaction levels, and overall workplace experience resulting in better employee engagement and retention scores.
- Diversity and inclusivity: IEQ monitoring is a critical element of
ESG. Various studies by leading organizations confirm that companies with strong ESG performance have a more diverse and inclusive workforce as compared to their peers.
In summary, by prioritizing the ‘Social’ pivot and adopting digital applications that provide enhanced visibility on IEQ and facilitates remedial measures, businesses can build more sustainable and resilient businesses that benefit everyone involved.