Security News > 2023 > October > Making privacy sustainable: Incorporating privacy into the ESG agenda

3) The regulatory focus overlooks the potential for business leaders and privacy leaders to leverage privacy as both a market differentiator and a competitive edge.

Why is this important? When business and privacy leaders focus on privacy as a compliance issue, they run the risk of not understanding the true impact their privacy activities have on the extended stakeholder community, including the broader economy, the environment and the society in which they operate.

Incorporating privacy into the environmental, social and governance agenda.

In 2012 the first measures of privacy governance appeared in ESG reporting metrics.

Third, the presentation of privacy initiatives in an ESG publication distils the work of the privacy team and its leader to a wider audience, particularly to the board, who typically read these reports.

Finally, society benefits from more effective privacy - as now organizational privacy compliance becomes the baseline rather than the goal.

News URL

https://www.helpnetsecurity.com/2023/10/04/esg-agenda-privacy/