Manage ESG data in the cloud to drive business value

Environmental, Social, and Governance (ESG) data is an important component for companies that are looking to reduce their carbon footprints, protect their social and financial capitals as well as complying with disclosure needs. ESG data is helping businesses identify risks, manage their resources effectively, and maintain compliance in the aspects of broad diversity, rights, greenhouse gas emission, and management of waste. With these initiatives, companies are using ESG data in the cloud to drive business value.

Data is at the centre of it all

Data is an important component in ESG reporting; various stakeholders put their own set of issues on the table. Corporations are looking for the best approach in the management of intermediated data in different business and supply chains. Authorities are in need of effective ways through which corporations can remain compliant with ESG reporting. Investors on the other hand are thinking of ways through which they can integrate ESG data and analysis. Other stakeholders including customers want to see a new level of data visibility. All these demands lie under the complex value chain and data flow. The challenges are further compounded by the fact that ESG data is siloed across business functions. Integration and analysis of data sets are complex, intensive, and require skilled personnel. The requirement of timely access to high-quality and rich data is normally hampered by inflexible ecosystems and inadequacies in the data estate.

Cloud is the relief

The unique needs around data management capability in the enhancement of ESG reporting make cloud computing an important pillar. Cloud computing is the unifier of all important ESG data into a single source of truth; a component that can be distributed and analysed to meet the needs at speed and scale. Using this model cloud computing service providers allow positive feedback that alters data and reporting requirements. Managing ESG data in the cloud helps a business in a number of ways, particularly:

• Allowing sourcing and synthesising of data right from the source systems; with this approach corporate get a full set of quality data essentially providing a solid foundation for downstream use.
• Through integration, a single source of truth is created, helping in meeting all end user’s needs
• It makes it easy to access reportable data, therefore helping corporate improve transparency and meeting their part of the responsibility to various stakeholders
• There is seamless access to analytical tools ultimately assisting corporate turn ESG data into useful and actionable information

Sustainable business principles require corporate to get a way of taming complex ESG data. They have to look for an approach that turns ESG data into an effective tool for compliance, analysis, and reporting. Breaking down data silos and quickening the flow of quality data into areas where it is required through cloud computing is an act in the right direction, one that increases the chances of success. Starting cloud computing journey positions a business to win stakeholders’ trust and also readying an organisation on any future changes. When this is combined with the adoption of technologies that minimise data centres’ operational costs such as the use of liquid immersion cooling, it is a double win for any business.