Business Challenge
Activist shareholders, investors, consumers, suppliers, communities, regulators, and other stakeholders are increasingly demanding more transparency and accountability from companies regarding their environmental, social, and governance (ESG) activities. The expectations of corporate responsibility in areas such as environmental protection, human rights, human capital, and product safety are rising rapidly.
This trend requires boards of directors, c-level executives, and sustainability managers to be proactive in responding to the risks and opportunities inherent in their stakeholders’ concerns. Business leaders also understand how their new responsibilities help them protect their brand and gain competitive advantage while helping to fight poverty and improve the quality of life of many.
The metrics used for more than fifteen years in automating financial reporting are insufficient to address the needs of a wider stakeholder audience reporting. Therefore, companies are demanding new software tools that can help them respond more effectively to the following challenges:
- How to integrate sustainability into core strategy and operations
- How to manage stakeholder relations
- How to increase corporate responsibility performance
- How to align environmental, social, and business values and targets
- How to define metrics for sustainability issues
- How to establish accountability across the value chain
- How to proactively mitigate reputational risks
- How to identify opportunities for innovation and increase competitive edge
