FINAL WORD
As the intensifying debates over the environment and social justice show , however , the need to tell a story with data has an impact beyond attracting customers , hiring staff or targeting investors . Having the ability to understand ESG data can drive decision-making with major ramifications for people and the planet . At the highest level , it is contributing to decisions that inform major goals and targets , such as the United Nations Framework Convention on Climate Change ( UNFCCC ). This is where global ESG data reporting standards come in – if corporate emissions targets might have been slightly nebulous , we now have the opportunity to align businesses with the global bodies driving change . And it all starts with a full understanding of the information we have available . work with data to align and activate proactive efforts to operate more sustainably . For example , developing accurate scenarios and simulations transparently means that everyone in the organisation can understand key actions that need to be taken .
That ’ s the key – making data consumable by everyday users . It can be detailed , or even the result of complex calculations drawing on multiple different sources . But empowering employees to self-serve and use the resulting intelligence to support their roles , rather than stopping what they are doing to decipher huge volumes of information , can have a significant impact – particularly in an area that has been subject to little tracking and reporting .
For example , while debate rages on the success or otherwise of COP26 , one of the main focuses has been keeping the world on track to limit the rise in average temperature to 1.5 degrees . There are urgent scientific reasons why this target has been set , yet even for the largest of organisations , understanding how their activities directly relate to this target can be difficult . With a better understanding of data and the ability to see the narrative in the intelligence , companies are in a much stronger position to align their activities with global goals and crucially , make decisions that have a tangible impact .
Shifting the responsibility for climate change away from the individual
Part of the challenge is that not everyone can be a climate expert . To accurately convey ESG data , each business needs to be able to present it in a userfriendly manner . By doing so , all stakeholders can
The climate change question is not going to go anywhere in the near future , so it is a matter of urgency that both governments and businesses play their part and are serious about the environment that we so often take for granted . This means ditching unrealistic sustainability targets that are based on ‘ gut feeling ’ for something more tangible and concrete .
By putting data at the heart of eco-initiatives and sustainability targets , organisations can do just that . Having a data-first approach to tackling the climate crisis not only allows firms to understand how their business practices are impacting the environment , but also enables business leaders to identify areas for improvement and communicate this clearly to all key stakeholders involved .
By leveraging data in this way , organisations can easily grasp how they intend to enact change for the future while transforming lives along the way . p
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