Data is essential in the modern business context, but high-quality data is mission-critical to reliable decision-making. In order to make decisions with confidence, management teams and leaders must rely on trustworthy data to ensure their decisions are well-informed.
As companies are challenged to improve on ESG, they need better data to inform those company-wide decisions. With the tremendous amount of emphasis on ESG globally, driven by investors and consumers, companies are under an intense microscope pointed at their ESG data. In fact, regulators are focused on ESG data because ESG has lost a lot of trust today. This focus from regulators globally is in part due to greenwashing and manipulations that are enabled by outdated and un-auditable data collection processes. The proposed regulation globally will bring enhanced levels of transparency, trust, and dependability to ESG data at large, but there is still a long way to go.
Historical processes that are manual, cumbersome, and error-prone undermines trust in ESG data today. By collecting data manually and in an outdated or poorly designed system, companies spend more time collecting and organizing the information than they do in using that information to inform decisions. When the data collection process doesn’t instill confidence and wastes precious time, ripple effects are felt throughout the organization. As the unsophisticated systems expose cracks in the data governance process, trust erodes, and progress on ESG performance grinds to a halt. Companies might still be checking the boxes of publishing an ESG report, but the internal concerns around data quality and rigor remain. This further inhibits strategic initiatives to unlock sustainability performance, the real goal.
The future of doing business requires companies to take control of their ESG performance. To achieve this, companies need ways to reduce the barriers to high quality data while simultaneously building trust through efficiency and transparency. The modern internal infrastructure for ESG needs to be integrated, auditable, and easy to understand. ESG data is not as rigid as financial data, but the rigor and level of scrutiny will need to improve in order for companies to have ESG performance data they can report on and stand behind.
Caesar unlocks transparent, dependable, and auditable ESG data through intuitive, efficient, and powerful processes in our sustainability data infrastructure. Our platform sits at the center of your organization’s data collection and management efforts and creates the necessary infrastructure to unlock high-quality data for companies to become ESG leaders in their respective fields.