Asset-intensive companies are increasingly under pressure to show progress toward sustainability goals. A recent webinar presented by Uptake and Microsoft offered guidance on building an environmental, social, and corporate governance (ESG) program. You can still register here to access the webinar recording.
Below are seven key takeaways from the webinar, and how asset-intensive companies can prepare their industrial data for operational and ESG reporting.
1. Unify Data from the Sensor to the Boardroom
ESG programs thrive on data, but for asset-intensive companies, getting relevant data into one place can be a tall task. Between data wrangling and feature engineering, even data that is moved to the cloud can be challenging to use for advanced industrial analytics and asset performance management (APM), let alone for sustainability initiatives. On-premise system may limit data reusability or make it costly to share enterprise access for industrial data.
Using a unified data management solution like Uptake Fusion, companies unify industrial data collected from assets and store the data in their cloud environment. That way, their enterprise securely shares access to the same data.
2. Create an Audit Trail that is Tamperproof
ESG programs depend on secure record-keeping and time-sensitive decisions. The goal is traceable, verifiable data for sustainability and ESG reporting for investors. Any decision must be backed up with, in essence, an audit trail.
3. Develop a Near Real-Time Emissions Footprint for your Entire Operation
Computing clouds like Microsoft Azure makes it possible to have up-to-the-minute readings on carbon emissions for every asset, process, and business unit. The nearly live feed is securely accessible and covers the entire enterprise. For sustainability to gain momentum in an organization alongside more traditional bottom-line initiatives, it is critical to reduce the demands of monitoring and reporting on the organization.
4. Track Progress Toward Sustainability Goals While Meeting Regulatory Requirements
Regulatory agencies with public company requirements demand compliance. Meanwhile, business is big on tracking progress toward goals. Unified data management enables asset-intensive companies to accomplish both while acting in the service of sustainability, workers, and the communities they operate in.
5. Keep It Confidential, Especially When Using AI
Protect all your data and intellectual property by eliminating third parties or requiring a security clearance. With data stored in the cloud, you leverage the privacy of your own cloud infrastructure. Even using AI tools, your data is centralized and kept in the cloud.
6. Curate Cloud-Based Data for Specific Audiences
Uptake Fusion unifies data in the cloud; it also curates the data with context for a variety of end-users and data consumers —— from engineers and data scientists to business analysts and decision-makers. That flexibility aids ESG programs that need to share decisions and supporting evidence with regulatory agencies, investors, partners, and more. Context is key.
7. Conquer the Biggest Barriers to ESG Adoption
Barriers to ESG adoption include robust data, AI use, and confusion around quality standards. With Uptake and Microsoft, asset-intensive companies securely share access to data for sustainability and bottom-line initiatives, along with the clarity and context to derive for the right decision-makers to drive value from it.