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Getting Started with ESG Reporting

88% of consumers will be more loyal to a company that supports social or environmental issues.” [Cone Communications]

Has your company decided to start tracking its Environmental, Social, and Governance impact? Now is the time to do it! With more consumers paying attention to the ways companies interact on social and environmental issues, it’s important to have facts and figures that provide transparency about your business operations.

Creating an ESG report can be a daunting task, but we’ve broken it down into 3 approachable steps that should help you get going!

Define the metrics your business should be tracking.

The type of business you have, the products you sell, the market you’re in, and other relevant factors will help to determine which metrics you should track and report on.

Identifying issues that often occur in your industry is a good way to narrow down which areas you should focus your reporting on. Businesses with large warehouses might want to highlight their improved energy consumption after a shift to renewable energy; or larger tech corporations might showcase their carbon footprint offsets after moving to remote work. Each business’ metrics are different, but defining what you should track and setting up a standard for reporting is the best and logical first step!

Implement a tracking system.

Once you’ve defined the metrics you’d like to track, you need to establish a baseline to show where you’re currently at. What is your current consumption and what is considered ‘progress’ while trying to move the needle on that specific area of concern?

How can you easily monitor and track your progress?

Look no further than Verdafero InSights! A patented Software-as-a-Service (SaaS) platform designed to securely monitor, analyze and report across utilities for any size property portfolio.

Verdafero InSights can be used to detect utility leaks, theft, and efficiencies, as well as forecast trends. InSights can also identify upgrade projects, head off future issues, save money, and increase operating profits. We automatically calculate GHG emissions for ESG and sustainability reporting.

Start making informed decisions.

Once you know your current metrics, you can use those to set goals and outline actions you will be taking to achieve them. Knowing what is achievable is key, and will allow you to make informed decisions about what is possible across a specific timeline. Having insight into these reports will provide you with information you need to establish a plan going forward, and the ability to track your progress while executing it.

As of 2020, 88% of publicly traded companies, 79% of venture and private equity-backed companies, and 67% of privately-owned companies had ESG initiatives in place.” [NAVEX Global]

Don’t get left behind! Get started with ESG Reporting today. Contact Verdafero to set up a demo to see how we can help you monitor your utility usage with Verdafero InSights.

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