The ESG Show Episode 8: How ESG is impacting Carbon Offsets and Artificial Intelligence
Host: Michael Baxter, Co-Founder and Editor-in-Chief at Techopian
Guests: Robert Cheesewright, Chief Impact Officer at Pinwheel
Kerry Sheehan, Head of Service, Development and Innovation (Business AI and Communication) for the UK Government
Plus speakers from Reset Connect at an ESG Conference
Environmental, Social, and Governance (ESG) values have become central to corporate strategies and investment decisions, driving a significant shift in how businesses operate.
The integration of ESG criteria is influencing both carbon offset practices and the deployment of Artificial Intelligence (AI) in various sectors.
1. Impact on Carbon Offsets
Increased Demand: As companies strive to meet ESG targets, carbon offsets have gained traction as a method to reduce net emissions. This rise in demand for offsets has driven up both investment and innovation in the carbon market, leading to more refined and transparent offsetting mechanisms.
Scrutiny and Standardization: ESG-driven investments are pushing for stricter standards and transparency in carbon offset projects, ensuring they provide real environmental benefits. Investors and regulators demand rigorous reporting and verification to align with ESG goals.
2. Influence on Artificial Intelligence
AI for ESG Compliance: AI is increasingly used to enhance ESG compliance and reporting. Companies use AI to track carbon footprints, optimize energy usage, and assess supply chain sustainability, thereby aligning operations with ESG standards.
Ethical Considerations: The intersection of AI and ESG also raises ethical concerns. AI tools must be developed and deployed in ways that do not exacerbate social inequalities or environmental harm, aligning with broader ESG principles.
The reciprocal relationship between ESG values, carbon offsets, and AI is reshaping both finance and corporate strategies.
ESG-driven demands are fostering innovation and transparency in carbon markets while AI's role in ESG compliance is becoming increasingly vital. However, the ethical and governance aspects of AI need careful consideration to fully align with ESG goals.
Keep in mind ESG is still in the “works in a vacuum” and should be discussed, vetted and challenged until more concrete rules and regulations are finalized.
ESG is a very big area and is not without its critics. With greenwashing, capitalism and the argument of transparency and authenticity gaining traction it is imperative right now to break down these barriers and correct misinformation about ESG.
The ESG show aims to promote greater understanding of ESG issues and is the home of interesting and thought provoking discussions on ESG.
Powered by Techopian Limited and hosted by Co-Founder and public speaker, Michael Baxter to fly the ESG flag and speak openly about the positives and drawbacks around ESG and the use of technology in ESG strategy.
An ESG is not just a nice-to-have, it is absolutely essential to businesses now to sustain business longevity, attract sustainable funding and reduce the impacts of climate change.
Join The ESG Show every Wednesday for free to meet with various sustainability and diversity specialists and investors and Michael to discuss topical subjects which relate to ESG and debate the responsible use of technology in implementing ESG strategies.
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The ESG Show: Carbon Offsets and AI are now Playing a Role