Insights  

ESG reporting requirements are coming and they are coming fast. As early as 2025, many companies will have to prepare and disclose ESG reports!  

The key challenge that is facing most organisations is the collection of reliable ESG data from diverse sources … internal, external, third – and fourth parties in the supply chain. This information should be gathered and reporting in similar metrics, supported with evidence for assurance purposes and regularly updated. Not just for ESG compliance but also to measure and achieve ESG targets. 

The benefits of the STICS EGS solution can be summarised as follows:  

1. Source data and standardisation  

Diverse data sources and a lack of standardisation creates a nightmare for collecting and reporting on ESG targets.  

Many organisations face a complicated mix of data supplied by various parties to different departments and / or locations. This often results in tangled and complicated data flows. Each party uses its own unique metric and with a lack of standardisation, it complicates the ESG reporting process. 

At STICS, we use Smartsheets to streamline and standardise these various data sets and collection process. It simplifies data management and supports better decision-making, metric monitoring and ESG target achievements.  

STICS ESG solution address this challenge with these capabilities: 

• Easy workflow creation to collect data from internal and external parties; 

• Standardise data input received from different sources; and 

• User-friendly interface and templates. 

2. Timesaving and cost effective 

How many spreadsheets and manhours do it take to collect ESG data? I am sure you can use a more effective way combining data sources and summarising data received resulting in cost reduction and enhanced productivity.  

Organisations need to avoid duplicate data sources, particularly when dealing with multiple vendors. STICS ESG Data Collection Solution can optimise these processes:  

• Automated workflow, reminders and exception reporting;  

• Single source of truth database will be updated directly with data received from internal – and external parties.  

3. Integrity and completeness of data 

Do you trust your ESG data that you collected? High-quality, reliable ESG data is essential for effective reporting and monitoring. Decision-makers must have confidence in the accuracy of the data they utilise.  

STICS ESG Data Collection Solution incorporate validation mechanisms to ensure the accuracy and reliability of ESG data, thus reducing the risks associated with the use of incorrect or invalid information. Evidence can be attached to the ESG data submission to support and validate the data provided by the internal – and external party.  

This will aid companies to produce auditable evidence to accompany the ESG data collected are compliant with current regulatory reporting.  

4. Consolidation and integration  

Are you struggling to gather accurate data from scattered sources? Data silos and accessibility issues are familiar problems that many companies encounter. Seamless integration of ESG data into current systems is crucial to prevent operational disruptions.  

STICS ESG Data Management Solution we help to ensure that ESG data is easily accessible and consistently integrated from different internal – and external systems and stakeholders. Connect seamlessly with existing systems – ERP, Excel, CRM, etc. systems.  

• Collect and consolidate ESG metrics alongside your financial data,  

• Guaranteeing consistency and completeness; and  

• Automate the aggregation of data collected.  

5. Scalability  

The demand for ESG data is growing, and companies often struggle to respond to new requirements quickly. A scalable ESG Data Management Solution helps organisations manage increasing data volumes effectively, without the need for extensive new investments or significant changes to existing capacities. STICS’ ESG Data Collection is flexible and can be modified easily by business users to accommodate the fast pace of change.