Climate or Cash?
Sustainability Drivers -our planet doesn’t care which of these motivations drives your sustainability or Corporate Social Responsibility ( CSR ) strategy, only that it does. Businesses understand very well that being a sustainable business and having mechanisms in place to accurately measure operational efficiency, provides the measure of performance stakeholders and investors need. In fact, right now, over 800 investors representing $100 trillion now request this type of data from companies through CDP’s climate change program, and this is where sustainability drivers are being led.
So why are so many companies failing in their execution of this task?
Unfortunately, many companies struggle to standardize their data input formats and move away from spreadsheets. This makes the process of validating data to meet internal scrutiny incredibly difficult, let alone meet the standard required by external auditors. Publicly traded organizations have seen share prices impacted directly as a result of misstating sustainable performance. So increasingly organizations look to third-party solutions to increase governance and streamline processes, which correctly executed, has the ability to immediately identify wasteful practices.
Software which centralizes data is one thing, but you only get out what you put in, so ensuring inputs are accurately validated is imperative. Poorly conceived software quickly turns high-value employees into low-value data entry clerks who struggle to then find time to implement valuable operational changes.
Thanks to some very intuitive software and intelligent data entry wizards, Vervantis removes this burden. Data is validated at point of entry to such a high degree, the process has been verified by SGS and the software received CDP accreditation. These accreditations reassure internal and external investors or stakeholders that measurement is robust.
CDP is one of the largest global collators of sustainable data who run the voluntary global disclosure system that enables companies, cities, states, and regions to measure and manage their environmental impacts. They have built the most comprehensive collection of self-reported environmental data in the world representing over $100 trillion.
While some organizations may hesitate to embrace the sharing of CSR & ESG results, those that do quickly recognize the unique value to be gained. Through a window of performance metrics, insights and comparisons, a truly invaluable benchmark for improvement are created (you can read the CDP US Report 2017 here). Whatever your scope, geography or motivations, reporting has never been easier, with our system generated reports available in seconds with the latest emissions factors, ready for qualitative input.
The results of CDP reporting speak for themselves as…
- 87% of companies responding to CDP identified business opportunities and are taking action
- 67% higher return on equity for companies that respond to CDP than their non-responding peers
- $53bn worth of savings identified by companies responding to the CDP climate change program
Still not sure? Contact Vervantis for more information on solutions that will drive organizational change through software that doesn’t cost the earth.