Tech Cities: Buzz, wellness and ESG
The importance of environmental, social and governance (ESG) issues has never been greater than it is now. In the aftermath of the global pandemic, ESG considerations, from sustainable operation policies by landlords to the walkability of cities, are having an impact on corporate decisions regarding expansion — and where that expansion may happen. How does this affect emerging cities in China and India, where environmental conditions may be relatively weak, as well as places like London or San Francisco, which regularly wrestle with affordability?
In Tech Cities 2023: Buzz, wellness and ESG, Savills looks at how ESG is affecting the ways tech occupiers attract talent by working out of cities the best and brightest want to work in, and moreover where they want to live, and which offer a vibrant, healthy, fair and well governed life.
A sustainable, clean environment is crucial to Tech Cities rankings, with air quality near the top of the list of challenges in some locations. However, it’s possible for cities such as Hangzhou and Shenzhen to succeed when other Chinese cities struggle with pollution. Cities that embrace broadening regulations and adopt sustainability solutions fastest will continue to rank highest.
The ’S’, social, of ESG is also an indicator of a tech city’s strength, and the more inclusive and diverse both businesses and cities are, the better the performance — with regards to both financial standing and talent retention. Additionally, cities that fail to protect inclusive and affordable working environments, particularly where tech industries have created rich, vibrant sectors, will risk losing prime tech city status.
To read the complete Tech Cities 2023: Buzz, wellness and ESG ranking, head to Savills Impacts
