Smarter navigation of ESG Reporting with semantha® from thingsTHINKING

Kewal (Gibble) Gupta at Channel Partnerships

By Kewal Gupta

1st December 2023

Environmental, Social, and Governance (ESG) reporting has transitioned from what was a voluntary initiative to a regulatory requirement. The increasing emphasis on sustainability and corporate responsibility globally has mandated a new approach to ESG reporting. semantha®, a solution by thingsTHINKING, is emerging as a pivotal tool, addressing the challenges companies face in ESG reporting.

The Growing Imperative of ESG Reporting

Large global corporations have been voluntarily disclosing ESG or corporate sustainability reports for years, highlighting their efforts in reducing carbon emissions and achieving sustainability goals​​. This trend is reinforced and being mandated by growing expectations from stakeholders, including investors, customers, and employees, ​​as well as regulatory compliance.

Challenges in ESG Reporting

One of the primary challenges in ESG reporting is the lack of consistency and accuracy in current tracking and reporting approaches. Companies within the scope of the Corporate Sustainability Reporting Directive (CSRD) are required to report comprehensively on their sustainability activities. Companies struggle with varied methods of calculating emissions and accounting for carbon use, particularly as they extend their evaluation to Scope 3 emissions, which include upstream supply chains and downstream value chains​​. The complexity is further compounded by the need to align with numerous voluntary frameworks, which often result in diverse and sometimes misleading statistics​​. The recent updates in regulatory requirements, such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and the United States’ proposed rules by the Federal Acquisition Regulatory Council, amplify the need for more standardised and reliable ESG reporting​​.

The semantha® Solution

semantha® by thingsTHINKING addresses these challenges head-on. It simplifies ESG reporting by automatically analysing unstructured information and identifying ESG-relevant content at a semantic level. This one-click ESG solution is not only easy to start but also promises significant time savings, ready in minutes and also saving significant manual effort​​. Moreover, semantha® reduces the risk of human error or bias and ensures comprehensive consideration of details for accurate reporting​​. It aligns with the European Sustainability Reporting Standards (ESRS), ensuring compliance and avoiding potential sanctions​​.

Cost-Benefit and Competitive Edge

Choosing semantha® for ESG reporting is not just about compliance; it’s a strategic move towards cost efficiency and competitive advantage. The solution’s ability to create reports faster with fewer resources directly translates into cost savings​​. With a market that is rapidly recognising the value of ESG-focused companies in terms of risk mitigation, reputation enhancement, and growth potential, using a tool like semantha® places companies at the forefront of sustainable practices​​.

Understanding the nuances of ESG reporting and integrating an effective tool requires expert guidance. We invite you to contact us for more insights into how semantha® can streamline your ESG reporting process, assist in compliance, and enhance your company’s sustainability profile.

Contact Channel Partnerships to learn more by calling: 01923 618099

Or email: info@channel-tools.biz

Sources:

https://www2.deloitte.com/us/en/insights/industry/technology/technology-media-and-telecom-predictions/2024/esg-reporting-software-growth-prediction.html

https://www.semantha.de/simplify-your-esg-reporting/#:~:text=,can%20focus%20on%20the%20results

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