In the face of growing regulatory and public scrutiny, businesses need to adopt integrated sustainability solutions capable of providing reliable, auditable, and actionable emissions data. With regulations such as CSRD, SEC rules and OGMP 2.0, among others placing additional weight on data transparency, it's critical to understand how individual data points contribute toward compliance at regional or federal levels. A reliable data ecosystem enables businesses to stand up to increased stakeholder demands for comprehensive emissions reporting. In this article, we review these reporting demands through the lens of a single data point, from the moment of its capture through integration and reporting.
WHAT YOU NEED TO KNOW
The emissions data challenge
With the advent of cutting-edge IoT devices and edge computing, the volume of emissions data and frequency of collection are rapidly increasing. However, these advancements also bring the challenges of accurately collecting, calculating, processing, and validating emission data. Today, the life cycle of this data for many companies has two or three phases, reliant on manual data collection methods and spreadsheet calculations, as well as having to input data into multiple systems. This slow, labor-intensive process multiplies the risk of inaccuracies and inefficiencies. Additionally, data that’s manually entered is not traceable; you can’t tell who has touched or how it’s been processed. Furthermore, the lack of standard methodologies complicates data validation and necessitates robust, resource-intensive monitoring.
FOR MORE CONTEXT
How forward-thinking businesses are responding
To overcome these challenges, forward-thinking businesses are investing in comprehensive software solutions aimed at addressing the costly chore of managing data, increasing data traceability, and mitigating the risk of inaccuracies in their environmental accounting. SpheraCloud’s Environmental Accounting is one such solution, offering more than just quantifying emissions; it delivers audit-proof data for improved corporate reporting. By streamlining the data collection process, simplifying complex calculations, and providing insightful analysis, these tools identify strategic areas for improvement and demonstrate performance improvement: a crucial step for many reporting frameworks.
WHAT YOU NEED TO DO
Time to act
As emission data volumes increase, manual data collection, calculations and reporting become progressively more inefficient and error-prone. That’s why leaders at global enterprises are embracing digital solutions like SpheraCloud Integrated Sustainability. This platform automates data entry and improves accuracy, providing unparalleled transparency and auditability while driving business value.
HOW SPHERA CAN HELP
How SpheraCloud helps
SpheraCloud Environmental Accounting transcends simply quantifying emissions. It provides transparency in complex calculations and delivers audit-proof data at scale. Furthermore, it enables easier review and response to a wide range of reporting frameworks, simplifies corporate emissions management, and ensures transparency across an environmental data point’s lifecycle.
ADDITIONAL INFORMATION
Understanding the new lifecycle of an environmental data point
To comprehend the full impact of Integrated Sustainability solutions, consider tracing the lifecycle of an environmental data point. From external systems to the Environmental Accounting solution, data is validated, used in calculations, flows into regulatory reports, and is then used for corporate sustainability efforts. SpheraCloud’s Integrated Sustainability provides a system where data is verified, validated, and automatically integrated into the corporate sustainability system for ESG reporting. From collection to report — this data point has many stops in between, and very few of them require intensive manual input. What’s more, users can see a traceable audit trail detailing each stop on the data point’s journey, from who touched it to how it was processed. This is the new ESG data lifecycle.
KEY TAKEAWAYS
Put the new ESG data lifecycle to work
As businesses take on the onus of reporting climate risks, accurately and efficiently incorporating vast data sets becomes a core requirement. Sphera’s Integrated Sustainability solution empowers organizations to automate data collection, calculation, and reporting across the full lifecycle of a data point, eventually leading towards a more sustainable future.
