If you have a business, perhaps you have noted the latest trend of sustainability reporting across the globe. Stakeholders, from regulatory agencies to customers, want to see a responsible business so that they can buy its products, invest in it, and be part of the brand. To deliver this information, you need to generate regular environmental, social and governance (ESG) reports for the stakeholders to see.
ESG sustainability reporting is the process of disclosure of a company’s environmental, social, and governance impacts. However, the process is never easy because it involves dealing with multiple parameters at different times. The cost can also be limiting. However, there is a way out – using good sustainability reporting software. Here are the main benefits to anticipate from ESG reporting programs.
A Brief about ESG Sustainability Reporting
Before looking at the main benefits of ESG sustainability reporting software, it is important to get a clearer picture of the reporting process.
The process starts with stakeholder engagement. As a manager, you need to identify the targeted stakeholders’ and liaise with them to understand what they require from your company. For example, if you are an auto manufacturer, identify the targeted niche market and ask the stakeholders what they would want to see the company do to make the planet a better place. This way, they will want to associate with you both during and after product development.
The second phase is a comprehensive operation review to identify key opportunities and risks. Then, craft specific goals, targets, and develop a good strategy to achieve them. Remember to also identify the right framework for implementation depending on the selected industry. Good examples include Global Reporting Initiative (GRI), Carbon Disclosure Project (CDP), and Sustainability Accounting Standards Board (SASB).
In addition to the preferred reporting framework, you need the right reporting software. This program should be installed in your system to gather data and help generate the correct reports. The program should also allow for direct data entry, but only for authorized persons.
Benefits of Using ESG Reporting Software
The most notable benefit of using the right software is that it allows managers to easily adhere to the main principles of ESG sustainability reporting, such as accuracy and reliability. Others include:
- Makes it Easy to Gather Sustainability Data
If you opt to gather the sustainability data manually, it can be a very challenging task. Manually selecting files, running calculations on excel or calculator, and pasting on the final report is never easy. However, a computerized application is able to isolate the selected details and generate them for your sustainability report. It is easy, fast, and efficient.
- Easy to Automate the Process of Data Gathering and Report Creation
Think of a sustainability management program as an added hand that allows you to progressively gather reporting data and produce the targeted report on demand. The program will handle the info correctly even if you have a very large organization with streams of data from the manufacturing, to marketing, and material suppliers. You can never go wrong with a specialized program.
- It is Easy to Align Your Operations with the Selected Framework
For most people indicating that ESG sustainability reporting is hard, one of the reasons is that it is considered as an additional and parallel operation to the already existing tasks. However, the reporting programs make it easy for you because they integrate well with existing management systems. So, checking different parameters, entering data, and generating reports will be pretty easy.
As you can see, ESG sustainability is not something that one can simply wish away. However, the benefits are impressive, and the process does not have to be complicated when using specialized programs. One of the leading sustainability reporting programs is Diginex. It stands out from the pack because of its innovative features. The most notable of these features is automation ability. The program allows you to grant permission to specific team leaders for data addition and manipulation. Do not let ESG sustainability reporting to become challenging; Diginex is your way out!