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PCB007-Apr2021

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20 PCB007 MAGAZINE I APRIL 2021 ESG is the new approach to corporate social responsibility, based on the notion that com- panies integrating ESG goals into their busi- ness decisions and operations are stronger by having accounted for concerns that create lia- bilities or risk. e financial services commu- nity is increasingly relying on ESG ratings and rankings to steer investments. Today, many IPC members that are public companies have ESG programs and are per- forming ESG-related data collection and re- porting. In many cases, reporting obligations are increasingly flowing down to their suppli- ers. Our conversations with members indicate they are feeling increasing pressure to achieve ESG standards and reporting requirements, with pressure coming from investors, cus- tomers, and the government. eir chief con- cerns relate to reporting burdens, increased costs, lack of clarity, and regulatory and repu- tational risk. What is troublesome is that only 25% of the company executives we spoke with felt their company had a strong understand- ing of ESG. ESG is likely to impact all companies directly or indirectly, and at the behest of our industry, IPC was asked to help provide much needed navigation on the ESG terrain. At IPC APEX EXPO, we launched an "ESG for Electronics" initiative to develop guidance that advances an industry-specific approach to ESG practic- es and reporting. A working group of electron- ics manufacturers is being formed, and the in- dustry can expect to see the product of their work as early as this summer. is initiative will marshal IPC resources and capabilities in Get Familiar With ESG—Environment, Social and Corporate Governance One World, One Industry by Dr. John Mitchell, IPC

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