Increase in Tech Firms’ Sustainability Budgets

A report from London-based marketing services firm iResearch Services has shown global technology companies are earmarking larger budgets for sustainability issues and ESG projects. The report surveyed 550 technology business executives in 11 countries and showed 36% had between US$500,000 and US$1 million earmarked for ESG projects in 2021. This year, 31% have budgeted US$500,000-US$1 million or US$2-US$5 million on sustainability. Germany is currently the leading country surveyed on sustainability issues but is set to be surpassed by the UK in 2023, with British firms planning investment which would provide a substantial increase in average investments. Gurpreet Purewal, iResearch Services’ Vice President of Sales, said: “It is generally acknowledged that between two and three percent of greenhouse gas emissions globally are produced by IT issues, so it is an important factor in sustainability, particularly in tech companies that rely so heavily on IT.” 

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