In recent years, environmental, social, and governance (ESG) strategy has become increasingly important to businesses across all sectors.
However, while the focus of ESG may previously have been on the environmental (E) credentials and leadership and governance (G) of a company, the social aspect (S) of this set of standards is now being brought into the limelight.
The ‘social’ in ESG can refer to a company’s relationship to its employees, the surrounding community, suppliers, and customers. Measuring the progress of this criterion has previously proved to be a difficult task that may go some way to explaining why social strategy has previously been less central to the overall rise of ESG.
From the perspective of telecommunication network operators, the societal/social aspect of their ESG strategies is likely to be based on broadband connectivity in both the developed and the developing world. At present, 90% of developed countries have internet connections while only 57% of developing countries are connected. To achieve global connectivity, it will be necessary for network operators, broadband providers and the original equipment manufacturers (OEM) who produce the relevant hardware to show commitment to this aim.
MarketPlace, our cloud-based inventory management platform, can support these providers in their strategic societal aims to achieve universal connectivity through the reuse and recycling of equipment.
Improving Global Connectivity
The rollout of the 5G network is progressing well however the switch to this new technology will not happen overnight. In addition, 5G may not be a suitable connectivity solution for every country, with the availability of these devices being limited in some parts of the world. This means societal value in the continued maintenance of older 3G and 4G infrastructures to avoid coverage gaps.
MarketPlace is ideally positioned to support this continued maintenance through the platform’s circular economy and the reuse of existing equipment. Using a real-time global view, MarketPlace’s revolutionary approach to procurement allows existing inventory to be reused or refurbished so that operators can quickly source the inventory required to keep older networks functioning.
As well as continuing to maintain existing older networks, MarketPlace can also help network providers extend their 3G and 4G infrastructures. This can ensure coverage in areas that may not be suitable for 5G technology and improve global connectivity figures. For example, we have reused over 2000 units in developing countries since 2019. As we build 5G our older parts and network devices can be sent to developing countries to get more of the developing countries internet-enabled.
Over 1700+ parts in Gambia, Ghana & Sierra Leone and over 400+ parts in Kenya & Yemen - all reused and redistributed by Shields from 2019.
Additional Benefits of MarketPlace
A recent article in Financial Management also highlighted the business benefits associated with implementing a solid ESG strategy. CEOs at The Davos Agenda agreed that a focus on ESG has helped companies become more attractive to investors, customers, and prospective employees. Home appliance and health technology company, Philips, acknowledged that the adoption of ESG and a circular economy model that increased the use of recyclable materials had directly contributed to an increase in customer loyalty.