Having timely, relevant data empowers business decision-making. The dilemma comes from challenges with data access, which is especially true with ESG (environmental, social, governance) programs. Without robust ESG reporting based on data collected, companies struggle to meet compliance requirements, follow ESG frameworks and ratings, or address investor expectations around sustainability.
A global study on corporate adoption of ESG by Capital Group highlights the need for data alignment and preference for active management. Forty-nine percent of the 1,000 institutional and wholesale investors surveyed said a lack of robust data is holding back their organization’s further adoption of ESG goals like net-zero and lower carbon.
For companies with asset-intensive operations, wrangling operational technology (OT) data for ESG reporting is even more challenging. Manufacturers employ third parties worldwide. Oil and gas companies are involved in joint ventures in far-flung places. Data lives in disparate places too.
A recent webinar presented by Microsoft and Uptake offered guidance on solving the OT data dilemma. Several key points made in the webinar are helpful in thinking through how a technology solution can solve the data dilemma and help your company meet ESG reporting requirements.