target audience: TECH SUPPLIER Publication date: Jan 2023 - Document type: Taxonomy - Doc Document number: # US50035421
IDC's Worldwide Environmental, Social, and Governance Business Services Taxonomy, 2023
This IDC study categorizes the market for ESG business services into different domains and offering categories based on vendor offerings and consumer needs. This foundational document will aide in initial market sizing efforts for the fiscal year 2021. As with all taxonomy documents, this taxonomy will be continually revised and edited to ensure its applicability to market offerings.
"Corporate sustainability has become more than just 'doing good.' Through ESG approaches, enterprises have started to view sustainability as a way 'to do well by doing good,'" said Bjoern Stengel, senior research analyst, ESG Business Services at IDC. "That means that in addition to looking at their environmental and social impact, they leverage ESG to improve their operational and financial performance, risk profiles, brand reputation, and employee experience. Instead of focusing on fragmented sustainability strategies, many companies are moving toward more comprehensive, purpose-driven, sustainable business strategies. Through their multifaceted, integrated capabilities, business services firms are in an excellent position to help companies navigate their sustainability journey, reduce complexity, and capitalize on this transformational business topic."