Sustaira featured in the 2022 State of The Massachusetts Tech Economy Report.
Yesterday, MassTLC Released their 2022 State of the Massachusetts Tech Economy Report that Sustaira is proud to have been featured in. This report benchmarks the tech ecosystem in Massachusetts over time against other sectors and other regions, and serves as an addendum to the State of the Massachusetts Technology Economy dashboard on MassTLC.org.
For over 20 years, policy makers and business leaders have turned to MassTLC as a reliable authority providing timely data and insights into the Massachusetts technology economy and its broader impact on the Commonwealth.
An important piece of this report includes how Sustainably and ESG is currently pushing the Tech Economy and influencing the goals and behaviors of local companies, largely in part due to the changing regulations and requirements in this space.
As ESG standards continue to evolve, there will be increased pressure on organizations to enhance their ESG reporting and strategies. Investors, customers, and communities want to see lofty pledges turned into concrete actions that encompass social outcomes. This includes increasing board diversity, divesting from companies with poor ESG practices further down the supply chain, ensuring the availability of decent work conditions, and more. New reporting standards will require more credible disclosures, and new technologies and talent expertise will be needed to collect and interpret the inputs, outputs, and outcomes associated with ESG data so that meaningful action can be taken.
“ESG isn’t only driven by regulations, but also by a growing pressure from a new and younger generation of talented employees who demand transparency around environmental impact such as carbon footprints and also social inclusion. Going beyond the shareholder and truly outlining ESG goals, measuring sustainability KPIs, and taking actions are a must-have moving forward in this next chapter of running a business.”
- Vincent de la Mar, Founder and CEO, Sustaira
A few key findings from the report include:
The state continues to rank number one nationally in concentration of tech workers. The opportunity for tech workers continues to grow with one out of every three jobs created in Massachusetts estimated to be in STEM fields.
There are over 18,000 technology companies in the Commonwealth. In terms of employment opportunities, there are 130,178 open jobs across the tech sector and
tech occupations in other sectors.Massachusetts remains a top location for venture-backed funding in 2021 with 1,096
financings raising $35.5 billion, coming in just behind New York City and California.
Read the entire report here: https://www.masstlc.org/masstlc-releases-2022-state-of-the-massachusetts-tech-economy-report/
