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Using technology to power your ESG reporting

6 February 2023
Damian Bemben

Introduction

Environmental, Social and Governance (ESG) reporting is a hot topic in corporate sustainability. Businesses are expected to demonstrate their commitment to environmental, social, and governance practices by providing transparent information on their performance.

How technology can help with ESG reporting.

There are a number of ways that technology can improve your ESG reporting.

  • It can help with compliance. Having the right tools in place will ensure that you're meeting all of your legal obligations, but it also allows you to be proactive and ahead of the curve when it comes to keeping up with new regulations.
  • Technology can help with risk management. By using software that tracks environmental data, companies are able to see where they're most vulnerable and take steps towards mitigating those risks before they become problems. This is especially important for industries like oil and gas, which require constant monitoring due to their high-risk nature (i.e., if an accident happens at one facility it could have devastating effects on surrounding communities).
  • New technologies allow businesses like yours access opportunities for innovation by providing insights into areas previously inaccessible or unmeasured--something we've seen happen time after time during our work across many different industries over many years!

How sensors can help your business get ESG reporting right.

Sensor technology can help you identify issues before they become problems. Sensors are able to monitor environmental conditions, productivity and workplace safety. This information can be used to improve your operations and reduce risks that could impact your bottom line or reputation.

  • Environmental monitoring: Sensors can measure air quality, water quality and humidity levels in real-time so you know if there are any issues with these factors in your facility.
  • Workplace safety: Sensors can be used to monitor people and machines to ensure safety in the workplace, providing immediate alarms in case of an emergency and automatically recording important data on near misses. This data can be used for incident review and also process improvement.

ESG reporting automation tools

ESG reporting automation tools can help you to streamline your efforts and make ESG reporting more efficient. By automating the process of collecting data, these tools make it possible for companies across industries to track multiple metrics in real time.

For example, one tool allows users to self-report on their own environmental impact by uploading photos or videos that show how they're working toward a more sustainable future. This saves companies from having to send employees out into the field in order to collect this information manually--saving both time and money!

Integrated reporting tools

Integrated reporting tools are systems that can collect and analyse data from a variety of sources. They automate the collection, processing, analysis and presentation of ESG information so that you don't have to manually gather it yourself. This can save you time and money while providing more accurate information--it's like having an army of robots doing your work for you!

The two most common types of integrated reporting tools are:

  • Data integration tools: These pull together data from disparate sources into one platform so that they can be analysed together. They're designed to make sense out of complex datasets with lots of interrelated parts--like those involved in ESG reporting.
  • Artificial intelligence (AI)/machine learning (ML) solutions: These use algorithms and sophisticated algorithms to analyse massive amounts of unstructured data automatically without human intervention required by default but still allowing people who know what they're doing access if necessary (e.,g., if there's an error).

Integrating intelligent devices into your ESG reporting will help you get better results.

Integrating intelligent devices into your ESG reporting will help you get better results.

  • Sensors can be used to monitor environmental conditions and track the impact of company activities on the environment.
  • ESG reporting automation tools provide automated analysis of data and metrics, which reduces the time required to prepare reports while providing accurate information.
  • Integrated reporting tools combine financial statements with other types of information including sustainability metrics and governance scores, allowing companies to make better decisions about how they operate their business.

Conclusion

The future of ESG reporting is here, and it's exciting. The ability to connect intelligent devices and automate your ESG reporting will change the way you do business. By integrating these technologies into your everyday operations, you can make sure that your company stays ahead of the curve when it comes to sustainability and environmental impact.

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