Effective ESG Solution
Our ESG solution will lead you through all the processes,
including setting objectives, collecting the necessary data, consolidating the data, enabling you to use it for further analytical purposes and ensuring the creation of the final ESG report.
In 2015, an original strategic initiative under the leadership of the UN was established, setting qualitative global Sustainable Development Goals (SDGs). Environmental Social Governance (ESG) builds on the initiative by setting quantitative goals. The new Corporate Sustainability Reporting Directive (CSDR) and the reporting standards (ESRS) that are based on the Directive and that were developed under the leadership of the EFRAG Task Force of the European Commission will gradually become mandatory for the vast majority of companies in the coming years.
The aim of this initiative should be the long-term sustainability of specific business activities in terms of nature conservation and principles of social equality. The output will be, among other things, the combined reporting (non-financial and financial) of sorts where companies will report on the environmental and social impacts of their business on society, set partial objectives in the individual areas and monitor their performance. Specifically, this reporting addresses aspects such as environmental impacts (emissions, resource consumption...), social aspects (working environment, diversity, equal employee treatment...) and the quality of the organisational management (ethics, data protection/GDPR, including supply chains, etc...).
ESG Data Preparation
Our service portfolio guides you through the process of data preparation and analysis, data collection and consolidation, the creation of an auditable data base - Sophia ESG Data Framework, the implementation of a comprehensive sustainability platform and ESG - IBM Envision.
Unique features of Sophia ESG Data Framework:
- Advanced methodology for ESG data preparation and analysis
- Data identification, data collection methodology setup, data granularity, required outputs - Integration with source systems and files
- Automated loading of ESG data
- Auditibility
- Data model ready for data filling
- Technology independent solution (Microsoft, Oracle, IBM...)
- A standalone variant of the database or superstructure of existing DWH and other systems
- The potential to expand ESG data to other areas and integrate with other areas of your reporting
Stages
- ESG Analysis and Strategy
- Data Base Preparation
- Comprehensive ESG Management and Reporting
Timing
- From 2018 (for 2017) in some form mandatory for banks and investment companies (according to NFRD)
- From 2025 (for 2024) according to CSRD for those firms that reported according to NFRD
- From 2026 (for 2025) according to CSRD for those firms that meet at least 2 of 3 conditions
- over 250 employees
- over 40M€ annual turnover
- over 20M€ assets - From 2027 (for 2026) for all medium and small companies - specification of scope during 2023
- Preparation according to estimates of consultants 2 years in advance!!!
IBM Envize is a comprehensive data, analysis and reporting platform for sustainability and ESG. The tool has been on the market for more than 14 years and is implemented in 150 countries around the world. It simplifies the collection, consolidation, management and analysis of sustainability data, enables goal setting and tracking. It has a robust reporting environment to track more than 500 sustainability data types and enables management, monitoring and decision-making throughout the ESG process. With ESG reporting frameworks, it guides you through the entire ESG reporting process. It captures all needs throughout the ESG process.
Key features of the IBM Envize product:
- Collection and tracking of carbon footprint, environmental indicators, Social and Governance areas
- Comprehensive ESG reporting and disclosure
- Monitoring compliance with sustainability commitments and targets
- Native workflow system and collaborative collaboration
- Integrated supply chain data collection environment
- Supporting core ESG standards including ESRS
- A fully auditable solution from data inputs to final report
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