Sustainability reporting facilitates organizations’ reporting process. It help to all type of organizations those who want to enhance their ESG practices and at the same time entities easily recognize the gap between organization current process and organization goal.  More sustainability reporting formalizes the ESG strategies as well as it apparently reveals organizations ESG status to stakeholders and investors that leads to build transparency.   simplify your ESG reporting Process with Sustainability Reporting Software. 

 What are challenging in ESG Reporting: 

Data collections: 

ESG data collection and ESG reporting associate each other. Without ESG data cannot align the ESG report.so, data collections play a pivotal role in ESG reporting. If  there is any data credibility, it definitely affects the ESG report. So, ensure ESG data trustworthiness.   

Data management : 

If an organization wants to measure ESG performance,  it needs diverse ESG data.  All ESG data not in internal system of organization, some data has in financial report, some data has in HR portal, and some set of data located at organizations portal. 

So, there is numerous data required to measure ESG performance.  Therefore data management is another tangled process.  

 Reporting Frameworks:

Each country pursues different types of frameworks. For instance India followed by BRSR reporting and European countries pursue different kinds of frameworks. Without enough knowledge cannot using the appropriate esg frameworks. So, ESG frameworks are another challenges thing. 

Industry types:

As I said above, without enough knowledge cannot choose appropriate frameworks and at the same time this framework metrics is changing based on industries and countries.  Based on industries measuring metrics is changed.  

For instance: 

real estate based ESG metrics and kpi are different. 

Bank based ESG metrics and kpi are different.   

Therefore, entities should be clear with measuring metrics of industries. 

Data Quality:

Data credibility is the significant thing in ESG reporting because through ESG data paves the way of transparency  and it transparency leads to trust.  This transparency is expected by stakeholders, investors and employees. As I said before, Not all ESG data has an internal system, some of data has in other external applications. So, some of ESG data is not immediately  available or some of data does not fulfill the reporting standards.  So data quality is one of challenges in ESG reporting.  

Regulatory landscape: 

Based on countries ESG regulations are changing.   Its regulations make the ESG reporting process complex. Entities more conscious about ESG regulations and jurisdictions.

Simplify the ESG Reporting Process using Sustainability Reporting Software: 

Updapt Sustainability Reporting Software effectively simplifies the ESG reporting process.  It profoundly analysis Each ESG data and before that based on industry it immediately changes the measuring metrics, KPI.   

moreover, it accurately choose the frameworks and same time collects diverse ESG data from different resource consolidate at one place.  

Therefore, there is no worry about ESG data and management.   In addition, it has various frameworks system, based on industries and based on legislations; it suggests the appropriate frameworks. 

Furthermore, users can customize their ESG report based on their Need. 

 In the Nutshell: 

 ESG reporting is a complex process, and cannot handle reporting manually. Enhance your ESG performance through ESG reporting. So  Simplify the ESG Reporting Process with help of Sustainability Reporting Software.