Norwegian IT companies are not doing enough to transparently report on their own sustainability. In the worst case, this could lead to them not being allowed to compete for public contracts, and make it almost impossible to raise risk capital. Only four out of ten companies report properly on sustainability, according to a survey conducted by The Governance Group on behalf of IKT-Norge.
Sustainability is a risky blind spot
"Sustainability will only become more relevant. The survey shows that many in the IT industry are not doing enough on this" says CEO Øyvind Husby of IKT-Norge to Norwegian publication Digi.no. "ICT is playing an increasingly important role in society, and more and more social actors are now critically assessing the ecosystem. If you don't take this serious, you risk losing both income and willingness to invest". Although most of the Norwegian ICT players are scarcely reporting on sustainability, six out of ten companies believe that it is important to work on reducing their own climate footprint.
Cyber security and privacy are on the radar
But it's not all bad. The study also shows that nine out of ten Norwegian IT companies consider cyber security and privacy significant topics to report on.
Most companies believe it is important to handle personal data and declarations of consent properly. In addition, most companies think reports of safety incidents should be followed up quickly.
"The demands Norwegian companies will face in the future - not just from stricter government regulation, but from consumers, boards and international regulators - will only get higher", Husby concludes.
Photo: Øyvind Husby - CEO IKT Norge