ESG Reporting in the 5G Services Industry

Integrating ESG into decision making and business strategies contributes to an effective due diligence and a better investment decision for the company as well as relevant stakeholders. The companies that fall under the 5G services industry have been transitioning and addressing their sustainability progress and agenda.

This segment has more social impact compared to environmental impact. Accessibility has been the primary focus of this market is to provide high quality services, solutions and optimal attention to people, profit and planet. These companies also disclose their own data privacy and protection policies which ensures security for customer’s personal information. This safety is also accompanied by technological advancements like big data, Internet of Things (IoT) and Artificial Intelligence.  Stakeholders are also concerned about the negative health impact of 5G services due to its carcinogenic nature.

During the COVID-19 pandemic, this market had been significantly impacted with increased use of the internet by professionals and students alike. The United Nations’ Sustainable Development Goals (UN SDGs) is a comprehensive framework that helps companies in this market obtain a perspective on the impact of their products and operations on ESG parameters.

Discover more regarding the practices and strategies being implemented by industry participants in the 5G Services Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

In this blog, we delve into the importance of ESG in the 5G services industry and how it can drive positive change.

Environmental Sustainability:

The 5G services industry has the opportunity to lead the way in environmental sustainability. By prioritizing energy-efficient infrastructure, optimizing network operations, and leveraging renewable energy sources, companies can reduce their carbon footprint and minimize environmental impact. Sustainable practices can pave the way for a greener digital future.

Social Inclusion:

Ensuring digital inclusion is a critical aspect of the 5G services industry's ESG journey. Companies must work towards bridging the digital divide by providing affordable and accessible 5G services to underserved communities. Promoting digital literacy programs and addressing connectivity challenges can empower individuals and promote social equity in the digital era.

Governance and Ethics:

Strong governance and ethical practices are fundamental for building trust and ensuring responsible growth in the 5G services industry. Companies should prioritize data privacy, security, and transparent data governance. Compliance with regulatory frameworks and industry standards, along with responsible supply chain practices, can foster a culture of integrity and accountability.

ESG Trends

- Accessibility to all through 5G services is a vital trend in ESG, with companies focusing on reducing inequalities and providing faster internet access to consumers.

- Companies in this segment are innovating through big data, AI, and IoT, and adopting circular economy practices to reduce energy consumption and waste production. However, the 5g services industry is reported to have a negative health impact on health and wellbeing, with limited carcinogenicity compared to higher frequencies like FR1.

ESG Challenges

- Cyber security and data privacy are major challenges for the segment in terms of personal data and financial transfers.

- Lack of infrastructure and bandwidth is a major reason why some countries did not proceed with 5G services, and price transparency is a concern for only tech-savvy patients. 

- 5G deployment requires meeting National investigation agency criteria and obtaining licenses from UASL, CMTS, or UL, as well as addressing negative impacts on health, animals, and biodiversity.

Is your business one of the participants in the 5G Services Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Growth of the 5G Services Market

The 5G Services market has been flourishing along with new innovative spaces like big data, AI, IoT etc. Incorporating technologies to mitigate negative health impact for People and the planet should be critical areas of interest for this segment in order to sustain in this market. Joint effort from industries and telecommunication authorities of countries across the world who don't have access to such technologies must also be propelled to retain market value.  This market has been valued at 48.25 billion USD in 2021 and is expected to propel to a massive 56.7% compound annual growth rate.

Key Companies in this theme

• T&T, Inc.

• BT Group plc 

• China Mobile Ltd.

• China Telecom Corporation Ltd.

• Bharti Airtel Ltd.

• NTT Docomo

• KT Corp.

• Saudi Telecom Company

• Vodafone Group

• Deutsche Telekom AG

• SK Telecom Co., Ltd.

• Verizon Communications, Inc.

• T-Mobile USA Inc.

• Rakuten Mobile Inc.

The 5G services industry has the potential to shape a sustainable, inclusive, and responsible digital future. By prioritizing environmental sustainability, social inclusion, ethical governance, responsible innovation, and transparency, the industry can unlock its transformative power while safeguarding the planet and benefiting society. Let's work together to ensure that 5G services drive positive change for all.

Browse more ESG Thematic Reports from the Technology Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Role of ESG in the Fast-Food Quick Service Sector

Integrating ESG into decision making and business strategies contributes to an effective due diligence and a better investment decision for the company as well as relevant stakeholders. Companies which are focused on the Fast-food quick service industry have been disclosing ESG data and strategies.

The companies which fall under this segment have both social and environmental impact. As it is a segment involving food, food safety and quality has been the dominant factor in which stakeholders are giving importance. Companies offer various programs and campaigns to showcase their quality and safety throughout their value chain abiding by frameworks and guidelines. Fast food generally isn't considered to be in the category of healthy diet, there are a lot of long term and short-term negative health impacts. Food Waste Management and package waste Management which are going to be landfilled or dumped into water bodies have been a critical agenda for most of the companies. Companies are also shifting to recyclable packaging and have targets to indicate their progress to attain sustainable packaging.

The United Nations’ Sustainable Development Goals (UN SDGs) is a comprehensive framework that helps companies in this market obtain a perspective on the impact of their products and operations on ESG parameters.

Discover more regarding the practices and strategies being implemented by industry participants in the Fast-food Quick Service Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

This blog explores how the industry key players are embracing sustainability and social responsibility, making positive changes that benefit both the planet and consumers.

1. McDonald's Corporation:

McDonald's, a global fast-food giant, is committed to sustainability across its operations. The company is working towards sourcing sustainable packaging and aims to reduce emissions intensity. McDonald's also focuses on responsible sourcing, waste reduction, and renewable energy.

2. Yum! Brands:

Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is dedicated to sustainable practices. The company is striving to source ingredients responsibly, reduce greenhouse gas emissions, and promote responsible waste management.

3. Chipotle Mexican Grill:

Chipotle is known for its commitment to sustainable sourcing and ethical practices. The company prioritizes locally sourced, organic, and non-GMO ingredients, implements recycling and composting programs, and emphasizes animal welfare standards.

4. Our Recipe, LLC:

Our Recipe, LLC is the parent company of Popeyes Louisiana Kitchen, known for its Cajun-inspired fast-food offerings. While specific ESG initiatives of Our Recipe, LLC may vary, the company has been focusing on sustainable sourcing practices, responsible packaging, and waste reduction. They have also made commitments to community engagement and employee welfare.

5. Ark Restaurant Corp.:

Ark Restaurant Corp. is a hospitality company that operates a diverse portfolio of restaurants, including quick-service establishments. While information specific to Ark Restaurant Corp.'s ESG initiatives may not be readily available, the company has the opportunity to implement sustainable practices within its quick-service operations, including responsible sourcing, waste management, and community engagement.

6. Restaurant Brands International Inc.:

Restaurant Brands International Inc. (RBI) is the parent company of renowned fast-food chains, including Burger King, Tim Hortons, and Popeyes. RBI has been actively addressing sustainability and social responsibility across its brand portfolio. The company has set goals to source sustainable ingredients, reduce greenhouse gas emissions, conserve water, and improve waste management. RBI also emphasizes responsible sourcing and community engagement.

Is your business one of the participants in the Fast-food Quick Service Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

ESG Trends

• Fast-food quick service sector is focusing on food quality and safety through various programs and campaigns

• Legal bodies like FDA, FSSAI, and EFSA are framing regulations for better quality and safer food products

• Total Quality program is a part of Hazard Analysis Critical Control Point to prevent food borne illnesses

• Food and package waste management is playing a vital role in reducing environmental impact

• Many companies recycle packages, cooking oil, and have solid waste recycling programs in place to reduce food waste issues.

ESG Challenges

• Fast-food industry faces challenges with waste management of food and packages

• Food waste can lead to crop loss and companies donate excess crops for CSR purposes

• Fast food has negative health impacts, including short and long term issues with nutrition, digestion, immunity, and obesity

Growth of the Fast-food Quick Service Market

To sum up, Fast food has become an unavoidable part of the fast-moving life of people. These industries have become more cautious for sustainability and have been seriously accelerating their pedal to achieve on goals and abide by regulatory frameworks. In fact, the industry has been focusing on innovative procedures and initiatives to minimize food and package waste. The company had a market value at 257.19 billion in 2019 and is expected to have a compound annual growth rate of 5.1% by 2027.

The fast-food quick service industry is increasingly recognizing the importance of sustainability and social responsibility. Leading companies are implementing ESG initiatives, such as responsible sourcing, waste reduction, and renewable energy usage. By embracing these practices, they are not only reducing their environmental impact but also contributing to the well-being of their employees and communities. 

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Investing in Sustainable Lipstick Brands: ESG Factors to Consider

In recent years, the beauty industry has witnessed a significant shift towards sustainability and ethical practices, and the lipstick industry is no exception. As consumers become more conscious about the environmental and social impact of their choices, lipstick brands are embracing Environmental, Social, and Governance (ESG) principles to align their operations with sustainable values. In this post, we will explore how the lipstick industry is incorporating ESG practices to promote a more sustainable and responsible approach to beauty.

Environmental Responsibility:

• Sustainable Sourcing: Lipstick brands are increasingly prioritizing sustainable sourcing of ingredients, such as natural and organic oils, pigments, and waxes. This ensures the preservation of biodiversity and reduces the ecological footprint associated with production.

• Packaging Innovations: Many lipstick brands are adopting eco-friendly packaging options, such as recyclable or biodegradable materials, to minimize waste. Additionally, some companies are exploring refillable lipstick cases, reducing the need for single-use packaging.

Social Impact:

• Fair Trade and Ethical Practices: Lipstick brands are embracing fair trade principles, ensuring that the workers involved in ingredient sourcing, manufacturing, and distribution are paid fair wages and operate in safe working conditions.

• Diversity and Inclusion: Companies are recognizing the importance of diversity and representation in their marketing campaigns and product offerings. Lipstick brands are expanding their shade ranges to cater to a broader spectrum of skin tones, promoting inclusivity and empowering individuals of all backgrounds.

Is your business one of participants to the global Lipstick Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance and Transparency:

• Supply Chain Traceability: Lipstick brands are focusing on transparency within their supply chains, ensuring visibility and accountability at every stage of production. This helps to identify any potential environmental or social risks and enables prompt action to mitigate them.

• Corporate Social Responsibility (CSR): Many lipstick companies are actively engaging in CSR initiatives by supporting local communities, investing in education, and partnering with nonprofit organizations to drive positive change.

Growth of Lipstick Market

As of 2018, the global lipstick market was worth USD 11.5 billion. The increasing awareness of personal grooming and appearance of young female consumers throughout the world is expected to be one of the key drivers of this market. Soon, the demand for the product is expected to be fueled by the increasing purchasing power of the female population due to the rising female workforce. The beauty of our bodies is not the only thing people care about; they care about our planet as well. As consumers become more responsible for the climate, they are focusing more on natural and organic products, which has led to an increase in the production and sale of lipsticks that are toxins-free and environmentally friendly.

Key Companies in this theme

    • L'Oréal S.A.

    • Shiseido Company, Limited

    • The Estée Lauder Companies Inc.

    • Coty, Inc.

    • Revlon, Inc.

    • Avon Products, Inc.

    • AmorePacific Corporation

    • Oriflame Holding AG

    • Chanel S.A.

    • Christian Dior SE.

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

Conclusion:

The lipstick industry's commitment to ESG principles demonstrates its dedication to sustainable and responsible practices. By prioritizing environmental responsibility, social impact, and governance transparency, lipstick brands are setting new standards for the beauty industry. As consumers, we have the power to support these brands and contribute to a more sustainable future by making conscious choices in our beauty routines. Together, we can create a world where beauty goes beyond aesthetics and encompasses ethical values that benefit both people and the planet.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Future of ESG Investing in the Denim Jeans Sector

The denim jeans industry has long been associated with style, durability, and cultural significance. However, in recent years, it has also come under scrutiny due to its environmental and social impact. To address these concerns, many companies within the industry have taken significant steps towards incorporating Environmental, Social, and Governance (ESG) principles into their operations. In this post, we will explore the ESG initiatives and sustainable transformations taking place in the denim jeans industry, highlighting the positive changes and the challenges that lie ahead.

Environmental Initiatives:

a. Water Conservation: Several denim brands have adopted innovative techniques like laser technology and ozone washing to reduce water consumption during the manufacturing process. They also invest in water recycling systems to minimize their overall water footprint.

b. Sustainable Materials: Companies are exploring alternative materials such as organic cotton, recycled denim, and plant-based dyes to reduce the environmental impact of denim production. These initiatives aim to minimize water usage, toxic chemical discharge, and carbon emissions associated with traditional denim manufacturing.

c. Supply Chain Transparency: Brands are increasingly committed to ensuring transparency throughout their supply chains. They collaborate with suppliers to trace the origin of raw materials, implement fair labor practices, and reduce the use of hazardous chemicals. This transparency helps consumers make informed choices and supports ethical labor practices.

Is your business one of participants to the global Denim Jeans Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Social Responsibility:

a. Fair Labor Practices: The denim industry is actively working to improve labor conditions in factories and ensuring fair wages for workers. Companies are joining industry-wide initiatives that focus on worker welfare, rights, and safety. They are also encouraging the adoption of international labor standards and certifications.

b. Diversity and Inclusion: Brands are recognizing the importance of diversity and inclusion within their workforce. They are actively promoting gender equality, supporting minority groups, and fostering a culture of inclusivity throughout their organizations. These efforts aim to create a more equitable industry that represents and respects all individuals.

Governance and Ethical Standards:

a. Ethical Sourcing: Denim brands are implementing strict guidelines for sourcing raw materials to ensure they are not linked to deforestation, child labor, or human rights abuses. They engage in responsible sourcing practices and conduct regular audits to maintain their ethical standards.

b. Corporate Governance: Companies are adopting robust governance frameworks, including independent board structures, strong risk management practices, and transparent reporting. They prioritize stakeholder engagement and take into account the interests of employees, customers, communities, and shareholders.

Growth of the Denim Jeans Market

The denim jeans market was economically valued at global scale at USD 64.62 billion as of 2018 and is forecasted to expand with a CAGR (compound annual growth rate) of 6.81 from 2019 to 2025. In terms of ESG the key players of the market have made policies and strategies to reduce the damage caused to the environment by including practices such as circular economy and adapting to renewable sources of energy. However, the challenge for the denim jeans market remains in terms of value chain, which involves logistics and packaging, which produces carbon footprint.

Key Companies in this theme

    • Levi Strauss & Co.

    • VF Corp.

    • The Gap, Inc.

    • H&M Hennes & Mauritz AB

    • Kering S.A.

Conclusion:

The denim jeans industry is undergoing a significant transformation, embracing ESG principles to address the environmental and social challenges it faces. Through sustainable initiatives, such as water conservation, the use of sustainable materials, fair labor practices, and improved governance, denim brands are striving to create a more responsible and ethical industry. However, there is still much work to be done to ensure a truly sustainable denim jeans industry. By supporting brands that prioritize ESG values and demanding transparency, consumers can play a crucial role in driving positive change and influencing the industry towards a more sustainable future.

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

ESG Reporting in the Telecom Services Sector

The telecom services industry is a vital driver of global connectivity, enabling communication and digital transformation across the globe. In this post, we explore the Environmental, Social, and Governance (ESG) practices within the telecom services sector. Discover how telecom companies are embracing sustainability, bridging the digital divide, prioritizing data privacy, and promoting responsible supply chain management. Join us as we delve into the efforts made by the industry to create a more connected, inclusive, and sustainable digital future. Here are some key aspects related to the telecom services industry and ESG:

Environmental Impact

Telecom companies operate extensive network infrastructure and data centers, which consume significant amounts of energy and contribute to carbon emissions. However, many companies are actively implementing energy-efficient technologies, transitioning to renewable energy sources, and adopting sustainable practices to reduce their environmental footprint.

Bridging the Digital Divide

Ensuring access to affordable and reliable telecommunications services is crucial for promoting inclusivity and bridging the digital divide. Telecom companies are investing in expanding network coverage, deploying infrastructure in underserved areas, and offering affordable internet access to enhance connectivity for all communities, including those in remote or disadvantaged areas.

Data Privacy and Security

Given the sensitive nature of personal data handled by telecom companies, ensuring data privacy and cybersecurity is paramount. Companies are implementing robust measures to protect customer data, comply with privacy regulations, and safeguard against cyber threats. They actively invest in technologies, processes, and employee training to maintain the highest standards of data privacy and security.

Is your business one of participants of the global Telecom Services Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Responsible Supply Chain Management

Telecom companies have complex global supply chains involving various components and equipment. Embracing responsible sourcing practices, ethical procurement, and supplier diversity are essential to minimizing environmental impact, promoting fair labor practices, and mitigating supply chain risks.

Corporate Governance

Good corporate governance is crucial for the telecom services industry to maintain transparency, accountability, and ethical decision-making. Companies are adopting robust governance structures, promoting board diversity, and integrating ESG metrics into executive compensation to align incentives with sustainable business practices. Stakeholder engagement is also prioritized to ensure the industry's actions consider all relevant perspectives. 

By focusing on ESG practices, the telecom services industry aims to create a positive impact on the environment, society, and governance. This includes reducing carbon emissions, promoting access to communication services for all, safeguarding customer data, ensuring responsible supply chain practices, and maintaining high standards of corporate governance. The industry recognizes the importance of sustainability and strives to contribute to a connected and sustainable digital future for everyone.

Growth of The Telecom Service Market

According to 2020 research, the Global Telecom Service Market was valued at USD 1,657.7 billion and is expected to increase at a compound annual growth rate (CAGR) of 5.4% in 2028 from the baseline of 2021. With the extensive reach of Telecom Services, the sector has the highest threat for security breach leading to regulatory and reputational risks. To address this, telecom industries are enhancing their data security and social responsibility to their customers to attract investors.

One of the major barriers that the global market is with affordability. Although there is a visible trend in declining rate of voice calls and data services, globally there exist numerous countries with unaffordable telecom services.

Currently India has the second largest telecommunication market in the world with a customer base of 1189.28 million. With the government’s initiative to Digital India campaign, it opens a door for a plethora of opportunities in this field.

Key Companies in this theme

    • AT&T Inc.

    • Verizon Communications Inc.

    • Telefonica SA

    • Vodafone Group

    • Orange SA

    • BT Group

Browse more ESG Thematic Reports from the Technology Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Sustainability in the Mental Health Apps Industry: ESG Trends

In recent years, the mental health industry has witnessed a significant transformation with the rise of digital platforms and mobile applications designed to support mental well-being. As this sector continues to expand, it is crucial to focus on the Environmental, Social, and Governance (ESG) aspects within the mental health apps industry. ESG considerations are becoming increasingly important in determining the overall sustainability and ethical impact of these applications. In this post, we will explore the significance of ESG principles in the mental health apps industry and examine how companies are incorporating ESG practices to promote positive social change.

Environmental Considerations:

• Carbon Footprint: Mental health apps that rely on cloud-based infrastructure and data storage can contribute to carbon emissions. Companies can prioritize selecting eco-friendly hosting providers and implementing energy-efficient technologies to minimize their carbon footprint.

• Sustainability Initiatives: Organizations can demonstrate their commitment to environmental sustainability by implementing practices such as recycling, reducing paper usage, and adopting renewable energy sources for their operations.

Social Impact:

• Accessibility and Inclusivity: Mental health apps should strive to be accessible to individuals from diverse backgrounds, ensuring that language, cultural, and disability barriers are addressed. Companies can invest in user research and inclusive design to create apps that cater to the needs of all users.

• Privacy and Data Security: Safeguarding user data is of utmost importance. Companies should adhere to stringent data protection regulations, prioritize user consent, and implement secure encryption practices to maintain user trust and privacy.

• Ethical Content and Messaging: Mental health apps must provide accurate and evidence-based information, avoiding stigmatizing language or perpetuating harmful stereotypes. Transparent communication about the limitations and potential risks of the app's features can help users make informed decisions.

Governance Practices:

• Ethical Leadership: Companies in the mental health apps industry should adopt strong governance practices that promote ethical decision-making. This includes establishing a code of conduct, fostering an inclusive and diverse work environment, and implementing robust whistleblower policies.

• Stakeholder Engagement: Engaging with stakeholders, including users, employees, and the wider mental health community, is crucial for understanding their needs and concerns. Regular feedback and collaboration can help companies improve their apps and ensure they meet the highest standards.

Is your business one of participants of the global Mental Health Apps Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

As the importance of sustainability, social impact, and ethical governance continues to grow, here are some key ESG trends observed in the mental health apps industry:

1. Ethical Data Handling: With the increasing reliance on user data for personalized mental health support, companies are placing a greater emphasis on ethical data handling practices. This includes obtaining informed consent, anonymizing data, and implementing stringent security measures to protect user privacy.

2. Diversity and Inclusion: Mental health apps are recognizing the importance of diversity and inclusivity in their offerings. Companies are striving to create apps that cater to a wide range of individuals, considering factors such as language, culture, gender identity, and accessibility needs. Inclusive design and user research are being utilized to ensure that these apps are accessible and relevant to diverse populations.

3. Sustainable Technology Infrastructure: Mental health apps rely on technology infrastructure such as servers, data centers, and cloud services. With a growing awareness of environmental impact, companies are seeking sustainable alternatives for hosting and data storage. They are exploring energy-efficient technologies, renewable energy sources, and carbon offsetting to reduce their carbon footprint.

4. Employee Well-being and Support: ESG considerations extend beyond the app users to the companies' own employees. Mental health app providers are prioritizing employee well-being by offering mental health support services, flexible work arrangements, and fostering a positive work culture. These practices promote a healthier and more engaged workforce.

Growth of the Mental Health Apps Market

Mental health apps Market size has been valued at USD 4.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030. Rising utilization of mental health apps owing to their benefits in improving treatment outcomes and lifestyle and increasing awareness regarding mental health as a significant health condition are some of the major factors boosting the market growth. Telemedicine Practice Guidelines in accordance with WHO as well Ministry of Health and Family Welfare (MoHFW) have been monitoring these Mental Health Apps segment.

Key Companies in this theme

    • Mindscape, Calm

    • Mood Mission Pty Ltd.

    • Sanvello Health

    • Headspace Inc.

    • Flow

    • Youper, Inc.

Conclusion:

The mental health apps industry has immense potential to positively impact individuals' well-being. However, it is essential to consider the ESG aspects within this industry to ensure that these apps not only deliver effective support but also contribute to a sustainable and ethical future. By prioritizing environmental considerations, focusing on social impact, and implementing strong governance practices, companies can lead the way in creating meaningful and responsible mental health solutions that benefit both individuals and society as a whole.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Digital Health Companies Leading the Way in ESG

The digital health industry has a significant impact on the environment, society, and governance (ESG) factors. With the increasing demand for healthcare services, the industry is faced with the challenge of balancing the need for quality care with sustainable operations. In this blog post, we'll explore some of the key ESG considerations in the digital health industry.

Environment:

The digital health industry has the potential to significantly reduce the carbon footprint of healthcare services. Online consultations and digital health platforms can help reduce the need for patients to physically travel to healthcare facilities, reducing transportation-related emissions. Additionally, digital health solutions can reduce the amount of paper used in healthcare, leading to reduced deforestation and waste. However, the industry must also ensure that the production and disposal of electronic devices used in healthcare do not have negative environmental impacts.

Society:

Digital health solutions have the potential to improve healthcare access and outcomes, particularly for underserved communities. Telemedicine and remote monitoring technologies can help bridge gaps in healthcare access, enabling patients to receive care regardless of their location. Additionally, digital health solutions can help reduce healthcare costs, making it more affordable for patients. However, the industry must address issues of data privacy and security to ensure that patient information is protected.

Governance:

The digital health industry must adhere to regulatory requirements and ethical standards to ensure patient safety and trust. Companies must ensure that their products and services are compliant with relevant laws and regulations. Additionally, companies must be transparent about their data collection and usage practices, and ensure that patients have control over their data. Companies must also address issues such as bias in healthcare algorithms to ensure fair and equitable access to care.

Is your business one of participants of the global Digital Health Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

The digital health industry is a rapidly growing and diverse field, with a wide range of companies operating in various sectors. Here are some key companies in the digital health industry:

1. Cerner Corporation: Cerner is a healthcare technology company that offers electronic health record (EHR) solutions, population health management tools, and clinical decision support systems.

2. Apple: Apple is a technology company that has recently expanded into the healthcare sector, offering wearable health tracking devices, health data management tools, and telehealth solutions through its Health app and Apple Watch.

3. Allscripts: Allscripts is a healthcare technology company that offers electronic health record (EHR) solutions, population health management tools, and patient engagement solutions. The company has made sustainability a priority, with a focus on reducing the environmental impact of its operations. Allscripts has set targets to reduce greenhouse gas emissions, water consumption, and waste generation, and has implemented sustainability programs across its business operations.

4. Telefónica S.A.: Telefónica is a multinational telecommunications company that has expanded into the digital health sector, offering connected health solutions and telemedicine services. The company has made efforts to address environmental impacts through its "Green ICT" program, which aims to reduce its carbon footprint and promote sustainable business practices. Telefónica has also prioritized social impact, with a focus on digital inclusion and promoting access to healthcare services for underserved communities.

5. McKesson Corporation: McKesson is a healthcare services and technology company that offers pharmaceutical distribution, medical supplies, and health IT solutions. The company has made sustainability a priority, with a focus on reducing its environmental impact and addressing social and governance issues. McKesson has set targets to reduce greenhouse gas emissions, water consumption, and waste generation, and has implemented sustainable sourcing practices across its supply chain. The company has also prioritized social impact, with a focus on promoting diversity and inclusion, ethical business practices, and community engagement.

6. Orange: Orange is a telecommunications company that has expanded into the digital health sector, offering connected health solutions and telemedicine services. The company has made efforts to address environmental impacts through its "Green IT" program, which aims to reduce its carbon footprint and promote sustainable business practices. Orange has also prioritized social impact, with a focus on digital inclusion and promoting access to healthcare services for underserved communities.

ESG Challenges

- Accessibility is a major challenge for the digital health market globally, with 50% of people lacking remote internet access and a lack of diversity and inclusion.

- Cybersecurity and interoperability of data are also a barrier, leading to poor quality data and potential security vulnerabilities.

Growth of the Digital Health Market 

In 2021, the global Digital Health market size was valued at USD 175.6 billion and is projected to expand at a compound annual growth rate (CAGR) of 27.7% from 2022 to 2030. The sector is identified to observe a year-on-year growth of between 21.2% to 29.8% post-Covid-19 in the coming five years. Factors driving growth include smartphone penetration, internet connectivity, increasing healthcare expenditures, and accessibility of virtual care. Healthcare professionals and patients are voluntarily adopting telehealth options to avoid in-person consultations.

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