Sphera's Integrated Sustainability Solution
Recent regulatory developments and climate-related disclosure rules are resulting in a great focus on sustainability by businesses. A report recently published by Morgan Stanley’s Institute for Sustainable Investing notes that while many businesses are becoming more sustainable for the sake of compliance, even more — 85% of businesses surveyed — are doing so because they see sustainability as the foundation for value creation.
This is heartening because we firmly believe that sustainability is not only beneficial in addressing environmental issues, but it also offers opportunities for product innovation and a way to achieve competitive advantage. Additionally, it can improve relations with investors, customers and employees who believe that companies must appropriately manage their environmental impact. Companies can often see how they’ll benefit from becoming more sustainable. The challenge is in actually getting there.
Sphera has been guiding businesses toward greater sustainability for decades, so we’re familiar with the challenges that can make their journey a bumpy one. For those companies that are just getting started, here are a few things to keep in mind:
While the path forward will look different for each company, all companies need to address sustainability at four levels: enterprise, operational, product and supply chain. While this adds to the complexity of the effort, the alternative — a piecemeal approach to sustainability — will not stand up to scrutiny or external audit. A company might reduce its Scope 1 GHG emissions, but if it fails to tackle the emissions linked to its supply chain, stakeholders will overlook its Scope 1 success.
Organizations need an integrated offering with capabilities and tools that can be applied to address their pain points and facilitate progress at all levels. This is what Sphera’s Integrated Sustainability Solution is designed to do. It helps companies:
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Auditable data is very important given the assurance requirements of the CSRD and SEC proposed rules. This is where many organizations struggle, especially when it comes to gathering and aggregating data for Scope 3 measurement and reporting. With the data collection capabilities of our cloud-based platform, companies get the data they need for measurable, actionable and auditable ESG and sustainability reporting.
Our Integrated Sustainability Solution also includes our DEKRA-verified life cycle assessment (LCA) database. Updated annually, the database currently contains more than 20,000 datasets, making it the world’s most robust and reliable LCA database. It allows sustainability professionals to rapidly calculate the environmental impact of products and entire product portfolios.
In addition to our LCA Software and Managed LCA Content, the Integrated Sustainability Solution includes software and services that help streamline ESG reporting and facilitate sustainability progress.
Sustainability is a driving force in a quickly evolving regulatory environment, and it will be for the foreseeable future. The insights gained through data collection and impact assessments can change an enterprise for the better.
Led by our mission to create a safer, more sustainable and productive world, Sphera is fully focused on helping companies manage their compliance obligations while simultaneously strengthening their business for the future. A sustainability focus is essential for organizations to succeed in both areas.