IsoMetrix, a global EHS software provider, recently announced the launch of a new Environmental, Social and Governance (ESG) solution. Designed to help organizations effectively understand and manage their ESG performance, IsoMetrix claims the product allows companies to report more efficiently and in line with stakeholder and compliance requirements.
As ESG compliance and stakeholder requirements for reporting vary based on region, the siloed nature of data collection makes it difficult for companies to accurately track and report their ESG performance. IsoMetrix said its solution offers a transparent view of an organization’s ESG performance by streamlining risk management data into a centralized platform to ensure it’s meeting local and international reporting standards.
“We wanted to develop a solution that gauges alignment to whichever ESG-related standard an organization or investor would like to assess themselves against to help with the reporting burden associated with these standards,” said Robin Bolton, executive of sustainability at IsoMetrix. “In addition, the solution must help organizations understand their ESG risks, findings, incidents or grievances.”
As a centralized management system, the solution gives sustainability managers a true understanding of performance through a holistic view of their ESG data, according to IsoMetrix. Managers can identify the factors that affect their ESG profile by managing the complete ESG reporting ecosystem. Through a standardized dashboard that eliminates the use of spreadsheets, the solution removes companies’ siloed reporting approach and eliminates the time-consuming task of collecting data. By providing a complete, transparent view of companies’ ESG performance, the solution helps users determine the impact of their program to investors, stakeholders and regulatory bodies by gathering data and reporting against different standards, according to IsoMetrix.
“We are offering a solution that is purely agnostic and is not focused on a specific ESG standard or framework,” said Rigby Stott, senior executive of customer success at IsoMetrix. “Our solution allows you to gather different information and standards, and presents the results in a holistic way that shows a true reflection of the performance of the organization. In addition, it is also a management system that defines and manages all your ESG initiatives and displays them into potential action plans that enable you to meet objectives, and ultimately create long-term value for your organization.”