The importance of data-driven technology for ESG is growing every day. Consumers, stakeholders and investors demand such practices from the organizations they deal with, and regulatory bodies expect companies to adhere to higher standards. As a result, corporations are increasing their focus on sustainability, setting ambitious goals that go beyond targets and mere tracking of metrics.
Data-driven technology is essential in the process of meeting ESG goals. Companies need the right data on energy consumption, water usage, GHG emissions, vendor efficiency and waste generation to accurately measure their impact. Clear, comprehensive and organized data is paramount for understanding the full scope of the impact and setting data-driven strategies for the future.
Technology and AI hold the key to collecting this data. Smart waste metering can use dumpster sensors and AI software to measure waste and recycling generation, while data-collecting tools can track employee sustainability initiatives in real-time. Companies need robust systems that can manage and analyze all the data they receive and use it to make informed decisions and adjustments.
To effectively report on their progress towards environmental sustainability, companies must also use data management platforms. This will make sure their ESG reports are reliable, centralised and up-to-date. Furthermore, combining centralized systems of record with data-driven insights can help reduce waste, while facilitating standardization and obtaining real-time operational decision-making support.
On the other hand, investing in sustainability doesn’t just mean reducing a company’s carbon footprint. It can also impact a company’s advantage in the market and its staff morale. According to Software AG, 84% of organisations believe that without a clear sustainability strategy, they are likely to lose staff.
At the upcoming ESG Summit in San Francisco on July 11-12, executives from around the world will come together to discuss strategies for optimising AI investments and integrating them into their ESG initiatives. Leaders from the corporate world and sustainability experts will exchange ideas and find solutions for their data-reporting challenges.
Deborah Kaplan, global head of sustainability at SAP customer success, will be participating in the event, providing useful advice and insight on how to identify and address key ESG challenges. With her 20 years of experience in the technology field, she will be exploring the benefits and flaws of data collection, as well as how to use it to create an effective sustainability strategy.
Data and technology can boost a company’s efforts in sustainability and help turn ESG goals into achievable targets. Global leaders and sustainability experts will gather to provide vital information on the increasing importance of data-driven technologies and how to properly implement them. With smart data collection and management, companies can accurately track their environmental impact and develop their own solutions to reduce carbon footprint.
