For years sustainability reporting has been conducted primarily in emissions-heavy industries such as mining, oil and gas, and food and beverage, with the goal of achieving net-zero emissions. But times are changing. As the effects of climate change become undeniably apparent and governments in the US and Canada shift to more environmentally conscious administrations, sustainability reporting is going from “nice to have” to “must have” for companies across every industry seeking growth and investment.
Furthermore, sustainability reporting is no longer a stand-alone focus. Beyond environmental monitoring, stakeholders are pressuring companies for transparency into how their operations are impacting the surrounding communities, and how they are managing risks and compliance. So here we have it, Environmental, Social and Governance (ESG) is born – and it’s all the rage. Organizations that never had to worry about ESG are left scrambling to compile reports, searching for data that is buried in silos, point solutions and spreadsheets, and some data that may not exist at all.
To make matters more difficult, many companies still feel they are in the dark when it comes to their overall strategy for ESG reporting to stakeholders and disclosure frameworks such as the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI). Even companies that are already focused on sustainability broadly are finding themselves at a loss because ESG reporting calls for hard data and metrics inclusive of the more subjective parts of sustainability, like social sustainability. Organizations are unclear as to how they can gather the data and conduct these types of measurements, let alone how they can tie it back to their overall environmental performance.
The good news is that they don’t have to start from scratch. While ESG is a hot topic that can feel new and intimidating to low and medium risk industries with traditionally less visibility, higher risk sectors such as mining and oil and gas have been doing it for decades. IsoMetrix has helped high risk industries with ESG management for 25 years, simply under different labels like “Environment, Health and Safety (EHS)”, “Corporate Social Responsibility (CSR)” and “Governance, Risk and Compliance (GRC)”. The reality is that the technology to facilitate ESG reporting already exists, and it works. It is up to the companies to leverage it.
IsoMetrix has the most comprehensive sustainability and ESG solutions available on the market today, and we’ve been trusted by global companies for over 25 years. If you would like to explore how IsoMetrix can streamline your ESG and sustainability reporting, schedule a demo.