As we’ve noted over the last few weeks, sustainability now has a seat at the IT table. That statement is backed up by the findings of the latest CloudBolt Industry Insights report: The Truth About IT Sustainability: Paying More Green to Get More Green. Additionally, we have more data that the push for sustainability often comes from corporate boardrooms looking to both save green, and get green.
Organizations are increasingly expected to put their money where their mouth is and make good on green intentions. State Street, one of the world’s largest investors, has announced it will use its $3 trillion investment arm to vote against the boards of big companies that lag behind on environmental, social and governance (ESG) standards.
Additionally, there is evidence that going this route pays off. As it turns out, companies that prioritize sustainability also see operational improvements, which directly translate to higher cash flows.
A study conducted by Oxford University and Arabesque showed that in the overwhelming majority (88%) of companies that focused on sustainability, operational performance was improved, along with profits. You can bet that board and C-level executives know this and want to drive towards it.
What CloudBolt Industry Insights Tells Us About Sustainability
Sustainability is now a key corporate agenda item — 79% of respondents indicate their IT departments are expected to help their companies achieve specific Sustainability initiatives driven by the Board of Directors of the C-Suite. Close to half (41%) said their company already has a sustainability initiative in place. It turns out IT has not only grown a green conscience, but is increasingly voting green when choosing their cloud vendors.
67% say that a cloud provider’s sustainability initiatives are important in determining whether or not they will do business with them. When over two thirds of IT leaders consider your green credentials before doing business with you, clearly it is an important driver of cloud providers’ growth and profitability.
The sustainability of the “Big Three” cloud providers haven’t gone unnoticed for these leaders. 51% of IT leaders said the green energy commitment of AWS, Microsoft and Google is real and growing more real every day.
Why IT Sustainability Matters
IT/cloud sustainability is a collective effort and each player in the cloud ecosystem needs to play its part. Saving the planet for future generations has to be the result of many contributions from responsible, forward-thinking companies and the people who work for them.
The rising tide raises all sustainable ships. Some issues transcend normal competitive boundaries. Sustainability is one of them. Whether we complement or compete, the most important thing is that everyone participating in the New Cloud Order contributes to lower carbon footprints and better conservation. And increasingly, that message is being driven from the top.
To learn more, you can read our CloudBolt Industry Insights report on IT sustainability here.