ESG (environmental social governance)

What is ESG?

Initiatives around climate, diversity and inclusion, data privacy, and more have become increasingly important in recent years – and they’ve been driving forces in pushing ESG to the forefront.

While stellar products and services used to be enough for businesses to attract new customers, investors, and employees, these parties increasingly want to dive deeper and understand how the companies that they’re engaged with support sustainable ESG initiatives.

Why ESG is Important?

Initiatives around climate, diversity and inclusion, data privacy, and more have become increasingly important in recent years – and they’ve been driving forces in pushing ESG to the forefront.

While stellar products and services used to be enough for businesses to attract new customers, investors, and employees, these parties increasingly want to dive deeper and understand how the companies that they’re engaged with support sustainable ESG initiatives.

What is ESG reporting and how can Precisely help?

Regardless of industry, ESG initiatives share at least one major thing in common: gathering and analyzing the data for compliance and reporting is a massive, costly undertaking – one that goes beyond manual capabilities. That’s because ESG data can be both qualitative and quantitative; structured and unstructured; diverse and dispersed.

You need a flexible framework to efficiently identify, aggregate, understand, and link the underlying data elements required for accurate, consistent, and contextualized ESG reporting.

In summary: your ESG data needs data integrity – maximum accuracy, consistency, and context.

Data enrichment for ESG provides that critical context. When you supplement your internal data with Precisely datasets for risk or demographics, for example, you get deeper insights and strengthen your ESG metrics.

Organizations need to support various ESG data sources and targets so that ESG reporting is complete and timely.  A flexible data governance framework is needed to efficiently identify, understand, and link the underlying data elements required for accurate, consistent, and contextualized ESG reporting.  

But visibility that does not include data quality scores and metrics, including real-time data observability leaves you at risk of reporting and data insights that aren’t accurate. This leads to lack of trust in your ESG metrics that will impact not only the decision-makers within your organization, but investors and customers that are tracking your ESG analytics.

Whatever your areas of focus may be, ensuring that your ESG efforts are comprehensive and compliant means building a solid data integrity foundation that supports success around your reporting and analytics.

Our team at Precisely is here to help throughout your journey.

Contact us today to find out how our data solutions can help you move forward with sustainable, smarter decisions, for the biggest impact.