Governments, investors and the public have raised the bar for implementing corporate environmental and sustainability programs. Now new research shows businesses are taking an important step toward a more sustainable future through digitalization.
The “Verdantix EHS Software Benchmark” report shows a clear trend toward digitalizing environmental and sustainability programs, and it highlights Sphera as a top Environment, Health Safety & Sustainability (EHS&S) software provider that can help businesses meet their sustainable goals while moving toward a digital future. The findings from Verdantix, an independent research and advisory firm, are based on interviews with more than 300 EHS executives.
Here are three key takeaways:
1. Digitalization finally gains traction for sustainability.
The shift toward digital sustainability programs has accelerated during the COVID-19 pandemic, according to Verdantix. At Sphera, we believe this promising trend will help address a critical vulnerability for businesses seeking to scale environmental and sustainability programs. In our 2021 Sustainability Maturity Snapshot, we found a significant gap between dedication to sustainability goals and implementation of tools and strategies for meaningful progress. While most companies Sphera surveyed had made strategic commitments to sustainability, just 53% said they have a plan in place and only 26% said they have a dedicated system to manage sustainability performance. As we have seen throughout the pandemic, digital tools not only help businesses keep operations running smoothly, but also can help drive efficiency and accountability, improve transparency, identify opportunities for improvement and, ultimately, help build trust with customers and investors.
2. Sphera’s Verdantix score validates direction SpheraCloud is taking.
Most executives surveyed (84%) are seeking EHS software solutions to improve environmental compliance and almost two-thirds (60%) plant to adopt sustainability reporting, according to Verdantix, and Sphera is well-positioned to help clients on their digitalized sustainability journey:
- Sphera’s Environmental Accounting solution achieved the highest score in environmental compliance management. The software helps businesses meet compliance requirements with assessment of software functionality for managing air emissions, greenhouse gas emissions, water and wastewater management and hazardous waste.
- Sphera’s Corporate Sustainability solution led the way for sustainability reporting and management. It enables companies to report sustainability activities with widely accepted disclosure framework standards, including Global Reporting Initiative (GRI), CDP (formerly the Carbon Disclosure Project), Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD) and more. Sphera’s software is foundational for companies that need to provide sustainability information in a professional and transparent way to complement financial reporting.”
3. Sphera’s solution is an excellent starting point to move from compliance to performance.
Verdantix highlights the key business benefits Sphera offers for compliance, however, Sphera believes reporting is just the beginning of the sustainability journey. Compliance and reporting are the foundation for better traceability, transparency and trust. Sphera’s solutions have helped clients optimize sustainability programs to boost innovation and brand value. By providing essential tools to help customers become leaders in the sustainability space, organizations can fully integrate sustainability into business processes and transform the industry at large.
Sphera’s goal is to ensure environmental data and resources used for compliance are also fueling forward-looking insights for continuous performance improvement to help create a safer, more sustainable and productive world.