Environmental, social, and governance (ESG) reporting is increasingly popular and vital for companies in today’s growing conscious businesses and consumer market. Modern companies need to review their ESG management and initiatives, including sustainability, to earn a long-term return on their investment. Companies, investors, policymakers, and others use ESG reporting to inform various decisions.
The Sustainability Accounting Standards Board (SASB) maintains an ESG reporting system that includes both a framework, or a “set of principles and guidance for ‘how’ a report is structured,” and standards, or “specific, replaceable, and detailed requirements for ‘what’ should be reported for each topic.” The system includes information producers and users.
The Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD) in 2015 to provide guidelines on climate-related financial disclosures. Principles for effective disclosure include disclosure that represents relevant information, is specific and complete, and more. The TCFD disbanded at the end of 2023 following the release of the Task Force’s 2023 Status Report.
Reasons for the importance of resource management plans include:
Regulatory Compliance Through ESG Reporting
Many governments and regulatory agencies are enforcing requirements around ESG reporting. Companies that fail to meet these requirements could face legal risks, penalties, and a tarnished reputation.
Collecting consistent and reliable data can be challenging because companies often lack reliable technology to track key metrics.
Investor Demands for ESG Reporting
Demand for socially responsible, sustainable investments is rising along with ESG initiatives. Today, investors consider ESG reporting to inform a company’s long-term potential. ESG reporting attracts the right investors who have the same priorities.
One ESG reporting challenge is that companies may struggle to find the right approach because of a lack of universal standardization. Stakeholders may have difficulty comparing ESG initiatives and performance across companies.
Consumer Expectations for ESG Reporting
According to McKinsey & Company, products with ESG-related claims on their packages outperformed those without. Consumers are backing claims that they care about sustainability, as reflected in their purchasing habits.
Without clear, universally accepted metrics, measuring and reporting the social and governance factors of ESG initiatives can be challenging.
Gomocha Tools for Effective ESG Management
Track Service Performance at Every Level
Provide a drillable view of service performance from organization-wide metrics to individual technician data. ESG reporting allows companies to track environmental and social performance metrics at various organizational levels.
Practice Field Service Journalism
Turn field techs into on-the-ground reporters, capturing detailed facts, insights, photos, videos, and voice notes from every job. Capture ESG-related data, insights, and media from the field, enhancing the depth and accuracy of ESG reporting.
Evolve Your Field Services Stack without Friction
Adapt quickly to changing ESG reporting requirements and standards without significant IT overhauls.
Traditional IT changes are slow and expensive, often stuck in scope limbo. Gomocha tools keep you nimble without breaking the bank…or your IT team’s spirit.
Go Paperless in the Field
Directly support environmental sustainability efforts and enhance ESG reporting processes. Create and adjust digital forms that can be attached to workflows, cutting out paper so technicians fill out forms on devices to build out instant reports.
Support Real-Time Task Oversight
Gomocha tools automatically collect ESG data from various operational systems and integrate seamlessly with existing business management tools.
You get a centralized view of tasks and workflows, enhancing project visibility and resource management. This includes work by location, estimated travel times, field team management, document overview, route plans, subcontractors, and field quotes.
Get Quick Business Insights
Gomocha tools offer interactive dashboards that provide real-time insights into key ESG metrics. Businesses can predict future ESG risks and opportunities.
Gomocha tools turn operational data into useful insights with built-in reports and dashboards to view data, spot trends, and track key metrics in real-time.
Centralize Asset Intelligence
Gomocha tools allow companies to choose from various ESG reporting frameworks, such as SASB and TCFD, or create custom reporting structures based on industry-specific needs.
Database Manager’s centralized asset intelligence efficiency provides clear oversight for proactive maintenance and smarter resource allocation. It’s a single version of truth for your entire field service organization. Learn more about what Gomocha tools can do for ESG reporting in our blog.