Why resilient businesses need sustainability software that supports digital transformation and regulatory compliance

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As the world emerges from a global lockdown, supply chain resilience and business continuity continue to be at the heart of every conversation. What companies are realizing is that organizations that had established sustainability practices – especially those supported by sustainability software – have responded faster to challenges and are becoming more agile businesses. Visibility of their sustainability milestones, gaps and recovery plans was essential: the wise investment made in a proactive manner paid off in times of crisis.

While the return on investment from sustainability initiatives can be difficult to project, long-term financial benefits now take center stage in very tangible ways. Sustainability reports are essential to the longevity and success of businesses, especially for commodity intensive businesses.

The report by the World Business Council on Sustainability, which cites a 10-fold increase in the number of company reporting requirements on ESG issues over the past 25 years, is also pushing companies to adopt sustainability software.

Not only is the cumulative number of requirements increasing, but sustainability leaders are also realizing that internal reporting requirements can be extensive. For example, the HR manager may want to create a big impact on employees, while the marketing director is focused on improving brand perception and the CFO needs information on how to mitigate the risks associated with climate change.

Build resilience and adapt to the complex landscape of requirements and regulations by focusing on these three elements:

Choose the right technology
Not enough people and too much data seems to be the problem cited by most companies to consolidate their sustainability agenda. Sustainability software is essential to achieve goals. The right technology can free up resources to take concrete action to reduce the impact of greenhouse gas emissions, minimize the carbon footprint, fight deforestation, overcome social inequalities, etc.

Choose the right frame
Your sustainability software must fit into the right strategic framework. While addressing broadly similar issues, there are many different frameworks and each has different requirements. As a business, you need to identify your reporting goals, including the specific needs of internal and external stakeholders, and then determine which of the popular frameworks – GRI, International Integrated Reporting Council, CDP, Climate Disclosure Standards Board, SASB , etc. your unique needs.

Choose the right data
Any technology or framework is only as good as the data behind it. Most companies suffer from reporting fatigue, and sustainability teams view data collection and enrichment as an annual chore that needs to be done “for the stakeholders”. This approach is not only superficial but also detrimental in the long run when the real issues that need to be resolved do not have adequate real-time visibility. Choosing the right technology and the right frameworks gives you access to data that will help your organization prepare for unexpected challenges.

With these three components, your sustainability program can adapt to the required compliance and disclosure mandates. At Eka, our mission is to help midsize businesses develop out-of-the-box, accessible and engaging sustainability reports that demonstrate year-over-year progress on environmental, social and financial imperatives, meeting expectations. of all stakeholders. Our sustainability software solution enables businesses to make real-time decisions during critical social, economic and environmental changes.

Originally appeared on eka1.com

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