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Benefits of metaverse in Environment, Social and Governance (ESG) with Walcon Virtual

Posted: 31 / 05 / 2022
Benefits of metaverse in Environment, Social and Governance (ESG) with Walcon Virtual
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At Walcon Virtual we have been committed since 2018 to virtual events for their innumerable benefits when replacing conventional physical events. Large companies that adopt technological transformation based on virtual offices and metaverses will see their ESG ranking improved thanks to the following benefits:

- Reduced CO2 emissions: holding an event in digital or 3D worlds with avatars drastically reduces CO2 emissions, mainly due to the fact that none of the attendees have to travel by plane, train or vehicle to the event venue. Moreover, this reduction in emissions is even more drastic when employees do not have to travel to their workplace. This has been demonstrated during the pandemic, where most companies were forced to telework in order to protect their workers. As a result, oil consumption fell to unprecedented levels, triggering a historic event in April 2020 when the price of crude oil was trading at -45 dollars on the futures markets, as major buyers had no more room to storage crude oil. This has made metaverses and digital transformation an indispensable ally against climate change.

- Flexibility and work-life balance with employees: It has been shown since the beginning of the pandemic that companies that adopted teleworking with their employees achieved greater employee engagement. Avoiding having to take the car every day results in employees gaining an average of 6 hours per week more to spend on other activities. In addition, it is easy to convince an employee to work overtime in exceptional circumstances when working from home for obvious reasons, and we also save travel to other countries, which can take weeks in the case of long business trips. On the other hand, we have the immersive activities in the metaverse, where all employees from all over the world come together for team building that would otherwise have been very complicated for economic reasons as well as different timezones and transport.

- Global networking: being able to bring together companies and institutions from all over the world in a virtual trade fair has been a paradigm shift. On the one hand, the costs of a virtual event are dramatically lower than in physical events, improving the profitability of companies. On the other hand, being able to meet people from all over the world without geographical boundaries offers the possibility of creating business in unimaginable ways. 

If you would like to know more about the ESG benefits of virtual events and metaverses, please contact us without obligation at the following link: www.walconvirtual.com/en/contact-us