The Future of Sustainability Requires Data and Transparency
Article from MHI Solutions Magazine
There are many different ways to frame and evaluate sustainability. Sometimes it is couched as environmental, social and governance (ESG) and other times, it is focused on the United Nations’ 17 sustainable development goals (SDGs). And in some industries, like supply chain and material handling, emissions are currently the big focus above all other sustainability measures.
No matter a company’s sustainability priorities, they are usually assessed and evaluated with metrics. Over time, companies seek to improve those metrics. But before improvement can begin, the right data needs to be collected, prepared and analyzed.
ESG in public companies
According to the Center for Audit Quality (CAQ), 93% of S&P 500 companies “issued an ESG report using at least one framework or standard.” These four frameworks/standards include Sustainability Accounting Standards Board (SASB) standards, Global Reporting Initiative (GRI) standards, Task Force on Climate-Related Financial Disclosures (TCFD) recommendations and the Integrated Reporting Framework. In fact, of these 500 companies, most used at least one framework, according to the CAQ.
While most companies in the material handling industry are not in the S&P 500, they likely do business with companies that are. This is where collecting, preparing and sharing accurate ESG data will be critical across companies that are suppliers to these firms…
