Sustainability data and technology company ESG Book announced today the launch of the Corporate ESG Dashboard, a new solution aimed at enabling companies to manage, evaluate, and enhance sustainability performance and reporting, and to gain transparency into the data powering their ESG scores and ratings.
According to ESG Book, the new tool is being launched to help companies address increasingly complex challenges around ESG data management and disclosure, amid growing investor, regulatory and stakeholder scrutiny over sustainability-related performance, and rising costs to collect, analyze and report ESG data. The company highlighted research by sustainability advisory ERM indicating that public companies spend up to $480,000 on ESG ratings-related costs per year, yet many report low confidence that the ratings accurately reflect their actual ESG performance.
The new tool, covering more than 140,000 disclosures enabled users to analyze and optimize corporate ESG performance, increase transparency by drilling down ESG scores to underlying source data, and benchmark performance against industry peers. The solution also includes a policy and regulation database enabling companies to navigate reporting requirements, and also allows companies to disclose, validate and update ESG data directly to stakeholders in real-time.
Dr Daniel Klier, CEO of ESG Book, said:
“Companies today face the challenge of integrating ESG factors into their business strategy and decision-making processes, whilst ensuring data accuracy and effective communication. However, with ESG ratings often based on opaque and inconsistent information, corporates increasingly require a better approach to ESG data in order to meet stakeholder demands and navigate ever more complex regulation.
“With the Corporate ESG Dashboard, companies have a powerful new tool at their disposal to take ownership of their ESG data, and transform how they manage and report on sustainability issues.”