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As environmental, social and governance (ESG) pressures continue to build, organizations are investing in data integrity software and expertise to stay compliant and achieve meaningful sustainability goals.
Burlington, Mass., April 25, 2023–(BUSINESS WIRE)–Exactly, a global leader in data integrity, today announced that it will create effective ESG reporting processes to build trust in data with clients around the world.
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The combination of Precisely Data Integrity Suite and Expert Strategic Services enables clients to easily combine multiple ESG data sources for real-time insights, improve confidence in the data quality of ESG metrics, ensure data governance while adhering to industry regulations, and enrich data with additional datasets to help uncover hidden context. Organizations that facilitate data integrity in their ESG reporting processes will see tangible results such as:
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Improved integration and alignment of basic ESG data with data sets such as geographic, demographic or economic data that add context and meaning
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Improved capture and organization of ESG data from multiple sources, breaking down siloes and making it available in real-time
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Stronger standards and controls to ensure ESG data is accurate, consistent and fit for purpose in operational and analytical systems
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Better management of data storage, access, use and exchange between systems while respecting privacy, security and complex regulations
Organizations are realizing the need to revamp ESG reporting, with 41% of finance leaders admitting their current process does not meet basic assurance standards. With new research from IDC showing that data governance concerns are the driving force behind ESG investment, there’s no better time for businesses to use trusted data to drive accurate reporting processes, drive meaningful results and unlock real business value from ESG-focused initiatives.
Vontobel, a global active investment firm with Swiss roots, has proven to be ahead of the curve by partnering with Precisely to focus on data integrity. The firm not only ensures that all investment strategies are ESG compliant, but also goes one step further by developing its own additional sustainable investment criteria to ensure the best possible investment solutions for clients. Optimization of ESG data processes is critical for portfolio evaluation – this includes comprehensive data analysis as well as quality and completeness checks.
“Data collection is nothing new for investment firms, but the current challenge is how to meet the new volumes of data needed for meaningful ESG measurement and identify which data elements are most important,” he said. “Using the right tools to automate data quality checks during the data cleansing process is essential to manage and manage the vast amount of ESG data. Implementing automated checks and data entry can reduce manual work and achieve more accurate analyses,” said Kristina Schack Vontobel, Head of Information Platform. It’s very important. Investment strategies.”
Verisk Maplecroft, a leading global risk advisory firm and sustainability, resilience and ESG specialist, also recognizes the importance of ESG reporting powered by accurate, consistent and contextual data, especially when combined with the right knowledge:
“A more powerful way to tackle ESG reporting is to know where you want to do governance, process, control, assurance and financial reporting at the same time,” says Mikael Skougaard, director of ESG reporting and strategy at Verisk Maplecroft. To unlock the maximum value, this must be supported by a high-quality contextual narrative.”
Skougaard will join True CRO Pat McCarthy and the Global Reporting Initiative (GRI) North America for a panel discussion at the upcoming data integrity conference, Trust ’23, on the importance of harnessing the true business value of trusted data. From the ESG report, as well as advice to navigate updated regulations and consumer needs. The session will take place on May 17 and registration is now open.
“Modern business practices require complete transparency,” McCarthy said. “Investors, employees and consumers want to know the companies they invest in, work for and buy from are doing their part to create a better world beyond meeting their personal ethical standards. Results Businesses must prioritize data integrity in sustainability reporting and build trust in the data that fuels their decisions.”
Find out more about the exciting speaker line-up at Trust ’23 and register for your free place today.
About exactly
Precisely is a global leader in data integrity, serving more than 100 customers, including 99 in data for more than 12,000 customers. Products encourage better business decisions to create better results. Learn more at www.precisely.com.
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20230425005089/am/
Contacts
Press contact
Emma Forrest (Global)
press@precisely.com
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