The Metaverse what it means for Environmental Social Governance (ESG)?
What is the Metaverse?
The Metaverse is a digital twin mirroring the real world. A virtual world where people can interact with each other and create their own avatars, or digital selves. Today, the Metaverse is also home to many businesses and organizations that use it as a way to engage with their customers or employees.
The possibilities for the Metaverse are endless. The Metaverse will become increasingly popular over time as a way for people to connect with each other to play games, shop & socialize.
How will the Metaverse impact ESG?
Environment, Social, and Governance (ESG) have become increasingly important in recent years, with investors more conscious of the need to consider environmental, social, and governance factors when making investment decisions. The Metaverse presents a unique opportunity for businesses to address these issues in a new and innovative way.
Summary of key impacts:
The Metaverse can help businesses to track and report their environmental impact, engage with their customers on social issues, and develop new governance models that are more responsive to stakeholder needs. In doing so, businesses will not only be able to improve their financial performance, but also make a positive contribution to society. One of the most significant impacts is the way in which it is enabling companies to engage with their stakeholders on a more personal level, by providing a virtual space to do so, thus increasing transparency and communication. This is particularly important when it comes to environmental and social issues, as it allows companies to directly address concerns and respond to them in real time. For example, when a company proposes a new industry set-up in a specific location, stakeholders can actually do a virtual visit and assess the overall impact which that industry establishment is likely to make on the environment and livelihood of people living in that area. Employee engagement within the company, i.e., the ‘social’ part of ESG. During the pandemic, more people have been working remotely, and the Metaverse enables employees and teams to connect virtually and make them feel they are working together. Many employees or students are living away from their homes, and in such situations, the Metaverse can act as a shared interaction space that helps them bond with others and combat depression, hypertension, or other kinds of mental problems.
Revolutionary way to interact
Indeed, the Metaverse has the potential to revolutionize the way we interact with each other and the world around us. This space is still very fluid as its in the early stages of development and there are many unanswered questions about its impact on society. So watch this space as it unfolds with us!
ESG & Game Raisers Meta
We truly believe the Metaverse can be part of the solution in helping address ESG issues. That’s where Game Raisers Meta comes in, we are creating the first sustainable Metaverse to be a force for good, and we have committed to giving away 70% of our profit to fund projects around the globe tackling 9 of the UN Sustainable Development Goals. A metaverse for a better world.
We will be iteratively developing GRM so citizens of the world can visit daily and interact by playing games, shopping & socializing.
Reference:
Know ESG
https://www.knowesg.com/featured-article/the-metaverse-and-its-impact-on-esg
Learn more about ESG Tech-related articles.
