ESG, tools, and automation need to be considered as one
Preparations for the Supply Chain Act (officially: Act on Corporate Due Diligence Obligations in Supply Chains), the CSRD, and EU taxonomy place a significant resource burden on many companies. Especially affected are those that just recently became subject to the reporting requirements. Not only do these companies need to acquire the necessary expertise in sustainability management and reporting, but they also need to revise their organisational structure and processes as well as check their data flows. Customised tools reduce the effort and generate synergies, thereby avoiding skyrocketing costs.
Here you will find an overview of our services and solutions related to ESG tools and automation.
Differing regulatory requirements and stakeholder expectations regarding ESG mean that companies lacking the support provided by the appropriate tools will be faced with enormously complex manual processes within their company’s organisational structures and workflows. Suitable tool-based solutions help but must first be found. Given the number of suppliers on the market, finding and choosing these has become a challenging and often complex project in itself. Those responsible must also consider the time and effort involved, develop catalogues of requirements, and draw up a list of possible tools. In an evaluation phase, these are then evaluated and compared. The decision for or against a particular tool must be carefully considered because, in the end, it will either enormously support or hinder the work processes for a long time to come.
Plan the digital, integrated, and automated processes
Analogous to data management, the ESG tool environment is the basic building block for implementing the challenging regulatory requirements more efficiently, safely, sustainably, and comprehensively. In the future, it will also be vitally important that the tools and processes chosen are able to pass the internal and external audits. This can only be ensured by carefully selecting the tools. Our clear recommendation is therefore to deal with the issue as early as possible. As soon as a company has dealt with the fundamental questions, it should find out what exact requirements it faces and determine where to find – and how to access – the necessary information within the company.
How Forvis Mazars can support you
Our experts know the different solutions available on the market and stand by your side with their extensive project experience – from analysing the initial situation to defining the requirements up to selecting the tools as well as implementing and further developing the organisational and IT environment.
Contacts
Stefan Weddemar Senior Manager - Frankfurt on the Main
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