Technology interventions for Sustainability Reporting

Making an organization’s performance sustainable and tracking their resource consumptions, GHG emission and reporting this to the top management and stakeholders is becoming an ever increasing challenge.

The size and growth of a business has become directly proportional to the extent to which an organization manages its sustainability. Leading companies realize sustainability is not just about “going green” for the sake of going green. To be feasible, sustainability practices and processes must work in concert with core business goals and strategies and improve enterprise profitability.

Though manual methods of collecting and interpreting data exists, evolution of sustainability software solutions has helped the optimal alignment of an organization’s financial and operational performance, and enable organizations to get insight into the opportunities where sustainability is profitable. Some of the advantages that organizations can benefit from are:

  • Reduce cost of measuring sustainability performance
  • Turn strategy and data into actionable insights where sustainability performance improvements also improve profitability
  • Provide sustainability results to the right levels in the organization so information is actionable

GRI (Global Reporting Initiative)  has  certified a number of sustainability software’s and  verified the solutions on criteria’s like completeness of GRI content, appropriate division of the elements or clear distinction between GRI and other reporting frameworks, among others. Some of the GRI certified software’s include:

  • SAP (Sustainability Performance Management) helps in managing multiple sustainability frameworks, Data collection, helps converting sustainability data into actionable information, Aligns sustainability KPIs to corporate objectives and risks
  • SOFI Solution 4 helps companies to integrate sustainability into their core business.
  • Enablon (Sustainability Management Platform)  enables companies to meet their needs in terms of nonfinancial reporting, operational performance and regulatory compliance

While most new areas in industrial development has such globally acclaimed solutions that there are many challenges that companies face  in choosing a solution in the developing economies (ex: Asia and Africa):

  • Accessibility to solution provider
  • Success stories from near shore countries
  • Hesitation to become early adopters
  • Ability to synchronize and synergize solutions already in place in the organization

SUPM (Sustainability Performance Management) of SAP builds on proven management processes and tools developed over decades of managing compliance and improving corporate performance and helps align a company’s operational and financial performance ultimately identifying how to convert sustainability into profitability.

ECC International being one of the leading training and consulting firms in the field of Corporate Sustainability and Governance in South East Asia recently partnered with SAP’s Extended Business Member program to help organizations generate more consistent and accurate sustainability reports and ultimately achieve sustainable performance.

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