If you’ve been following recent developments in disclosure legislation, you’ve probably noticed a shift in how the world is approaching sustainability and corporate social responsibility. Disclosure frameworks are becoming increasingly standardized, and governments, investors and even consumers expect companies to be more transparent about their ESG performance.
One of the best ways for a company to meet all of these expectations is to issue an ESG report. But after painstakingly putting together your first report the hard way, you might come to the same conclusion as many other businesses: ESG reporting would be a whole lot easier with a tool that streamlines and centralizes every step.
The business world may run on coffee, emails and spreadsheets, but when you’re orchestrating a project with dozens of collaborators in hundreds of locations, nothing beats a specialized tool. More specifically, ESG reporting software can help you:
To choose the best tool for your business, you’ll want to consider:
So how do you pick from all the sustainability tools out there? Here are six questions you should ask yourself to make sure you’re choosing the right ESG reporting software for your business:
One of the main reasons companies start using ESG reporting software is to eliminate manual work, save time and cut down on costs. Try to pick a tool that can:
When sustainability is embedded throughout your organization, tracking your non-financial performance can become rather complex. Whether you’re measuring health and safety incidents or scope one, two and three GHG emissions, your ESG software should be powerful enough to:
Sustainability professionals often have to collaborate with a host of other departments with very different needs. For instance, whereas your marketing and communications teams might want to share sustainability initiatives to set your company apart, your human resources department might want a quarterly diversity and wellness report, and your plant or store managers might need a snapshot of their environmental KPIs to make sure they’re on target. All of these teams will also need a way to send you their data so that it can be aggregated into a single database.
To be useful across your entire company, an ESG reporting solution should:
The piece of ESG reporting software that’ll work best for your business in the long term is the one that not only aligns with your current priorities but can also support your future needs. Ideally, it should be versatile enough to help you:
Some solutions come with a pre-defined list of metrics you can track and very limited features. If you plan on expanding on your sustainability initiatives as your company’s materiality changes, your ressources grow and the market changes, cookie-cutter software just won’t cut it. Instead, opt for a flexible piece of software that can be:
When comparing software, features aren’t the only thing you should look at. Make sure to consider the kind of service you’ll receive. A great sustainability software provider should:
Sound like a tall order for a single tool? Check out this all-in-one ESG reporting solution that does it all. The more you can streamline and centralize your data collection, analysis and reporting, the better insights you’ll gain into your performance—and the more you’ll be able to effect real change within your organization.