The web event on AI and ESG: Friend or Foe held last week explored the potential applications of Artificial Intelligence (AI) to Environmental, Social, and Governance (ESG). The panelists discussed how technology can be used to address social issues, from increasing diversity in companies to promoting responsible investments and measuring emissions.
AI has the potential to help improve ESG initiatives, but it is important to recognize both the opportunities and challenges that come with implementing this technology into our lives. Consideration of data privacy, AI ethics, and implementation strategies are all necessary for companies to understand when developing AI applications in the context of ESG.
Here are a few of the ESG technologies and AI tools shared:
- ClimateBert provides climate-related research and claims by companies, new sources, and research.
- Datamaran reviews and analyzes corporate governance data, including ESG risks and opportunities, to assess a company's ESG performance and identify areas for improvement.
- Manifest Climate compares your data to reporting frameworks and regulations, as well as to peers.
- Unilever has a recruitment tool to screen candidates with the goal of a more diverse and inclusive workforce.
- Deepmind AI could be used to improve the accuracy of weather forecasts, which in turn, could assist with better climate modeling.
- Climate TRACE independently tracks companies’ emissions in real-time, described as the “world’s first global emissions inventory”.
- GreenwatchAI contrasts green claims against their actual emissions performance, advertised as “AI to detect greenwashing”.
- ChatIPCC houses IPCC and the latest scientific paper on climate science.
- ClarityAI provides sustainability data, advertised as an investment, shopping, and benchmarking tool.
- SustainLab provides a comprehensive platform for sustainability data management and reporting.
- OpenAI - Develops and applies AI technologies for multidisciplinary research, including climate change and social governance.
- Turntide Technologies uses AI to optimize energy consumption in buildings, reducing greenhouse gas emissions.
- Pachama utilizes AI for forest carbon sequestration, contributing to environmental conservation.
- BreezoMeter offers real-time air quality data, promoting environmental transparency and awareness.
- Zest AI is a tool for fairer, less biased credit underwriting, enhancing social governance.
- Just Capital uses AI to rank companies on the basis of just business behavior, with a strong emphasis on ESG factors.
- Ecogain is an AI tool that assists businesses in setting and achieving sustainability goals.
A few of our productivity AI tools we shared are:
- Jasper.ai is an AI tool that acts as a personal writing assistant, helping users to write better and faster.
- Fireflies.ai is an AI tool designed to automate note-taking in meetings. It can join online meetings, transcribe conversations, and capture action items in real time.
- Superhuman.ai is a productivity tool designed to increase email efficiency.
- Grammarly uses AI to provide real-time writing feedback, correcting grammar, spelling, and punctuation, while also offering style and tone suggestions.
AI and ESG can be powerful allies in helping to create a more sustainable world. Companies should continue to explore the potential applications of AI to foster an environmentally responsible, socially conscious, and ethically aware ecosystem.
The key takeaway is that companies need to approach AI with due diligence when implementing tools for ESG initiatives. It is important to ensure these applications are designed with data privacy and ethics in mind.
We extend our appreciation to the panelists Scott Ferguson, Cynthia Mabry, and Trish Uhl who shared their insights and knowledge. Thanks to Gibson Dunn and ALLY Energy for hosting the ESG series.
Editor's note: This article with video and artwork was partially created using Jasper.AI and Vimeo AI tools.
