SERI Plans Electronics ESG Standard and Certification
SERI has embarked on an ambitious plan to develop a widely accepted Environmental, Social, and Governance (ESG) reporting standard and certification programme for the electronics industry.
ESG reporting represents a revolutionary approach in the financial sector, extending its scope beyond conventional risk assessment. It delves into evaluating organisations by quantifying their ESG practices and policies. Currently, there is a globally accepted standard for reporting the ESG impacts stemming from electronics. SERI's initiative aims to bridge this gap.
Corey Dehmey, SERI’s Executive Director, emphasised the complexity faced by organisations when attempting to measure their diverse carbon impacts for ESG reporting. Electronics might seem like a relatively small piece of the puzzle, but given the widespread use of electronic devices across businesses worldwide, establishing an ESG Reporting Standard for electronics becomes pivotal within the broader context.
In our increasingly interconnected world, the demand for comprehensive insights into a company's long-term sustainability, performance, and social responsibility is intensifying. Recent mandates from the U.S. Securities and Exchange Commission (SEC) and the European Union's Corporate Sustainability Reporting Directive (CSRD) have mandated carbon footprint disclosure and sustainability impact assurance, reinforcing the need for industry-specific guidelines in the electronics sector and third-party oversight.
While crafting a universally applicable and globally adopted Electronics ESG Reporting Standard is the primary objective, ensuring the accuracy of reported data is equally crucial. Electronics can play a significant role in incorporating the social aspects of ESG reporting, particularly when electronic devices are repurposed instead of discarded. This initiative aims to bridge the digital divide and drive positive social change through responsible electronics use and disposal choices.
SERI's ESG project, a component of the broader ESG reporting system, aims to align all elements of the electronics value chain to contribute to an organisation's ESG report. Recognising that approximately 80% of the carbon impact of electronics is generated before a device is even unpacked, this category offers a unique opportunity for carbon reduction and social good through sustainable choices in procurement, usage, and IT asset disposition (ITAD) within organisations.
The standards development process will follow SERI's proven model, akin to the R2 Standard, and adhere to ANSI Essential Requirements. It will commence with a formal announcement, an invitation to stakeholders to join a multi-disciplinary Technical Advisory Committee (TAC), and discussions on crafting a standard that meets the needs of various parties, including reporting facilities, public corporations, OEMs, the investment community, and regulators.
SERI, dedicated to advancing electronics sustainability, aspires to foster collaboration within the industry and contribute to a truly global economy. Leveraging its status as an ANSI-accredited standards developer and its decade-long experience with the R2 Standard and certification program, SERI seeks to establish an ESG reporting standard and certification program for the electronics industry.
The official announcement of SERI's initiative took place at the combined E-Reuse/E-Scrap Conference in New Orleans on September 18. It coincided with a panel moderated by Mr. Dehmey, titled "Leveraging Your ESG Expertise," targeting electronics reuse and recycling facilities, encouraging them to enhance their partnership value by aiding customers in fulfilling their ESG objectives.
For over 15 years, SERI has been at the forefront of multi-stakeholder collaboration in developing the global R2 Standard and implementing an independent certification programme for the electronics value chain. Throughout this endeavour, SERI maintains transparency and accountability, adhering to the ANSI Essential Requirements for standards development.
For further details on SERI's ESG reporting standard or to follow its development progress and participation opportunities, please visit sustainableelectronics.org/join-the-mission-esg-reporting/.
To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.