Society is transforming at a rapid pace, strengthened by the first clear effects of the climate crisis there are widespread demands for better social conditions and attention to environmental, social, and governance (ESG) factors are continuously growing.
Consumers, especially millennials and Gen Z, expect socially conscious and sustainable products. In parallel, investors are requiring their portfolio companies to set ambitious targets, ensuring transparent, accurate, and externally audited ESG disclosure. Governments and regulators are introducing more stringent regulations on an ongoing basis, and solid ESG performance has become an essential factor for companies to attract and retain top talent. Society demands a shift from shareholder capitalism to stakeholder capitalism, creating value for all stakeholders.
This economic transformation has brought about substantial changes to the way companies do business. Sustainability has evolved from a topic of compliance to being core to any strategy. It is no longer just a "cost" but a source of business value and new business opportunities. Yet the sustainability landscape can be difficult to navigate and the concrete steps towards becoming a more sustainable business can be ambiguous. To unlock the real value of these new business opportunities, companies need to take an integrated approach, leverage the power of technology with data and analytics capabilities, and partner with entire ecosystems to create long-lasting change that truly benefits businesses, the planet, and society as a whole.
Becoming a sustainable business does not happen overnight, it requires incremental steps. As with every business, we believe in a data-driven approach to sustainability. Therefore, the first priority is to create a sustainability data and analytics layer that integrates the correct data sources into the value-driving use cases.