New challenges in accountability

Maria Eugenia Bellazzi, Partner at Sustenia.

Written by Maria Eugenia Bellazzi

We are in the age of social networks, communication channels, and technology that provide us at our fingertips with the information we need to make decisions as consumers, collaborators, investors, and citizens.
This scenario coexists with the demand of more and more people we want to meet

What organizations do, what their leaders think, who leads them, where they stand on social and environmental issues, and what their purpose and impact are.
In the private sector in particular, accountability has gained unparalleled importance in recent years for several reasons: the development of regulations and the definition of the law.

European taxonomy regulation; Certification requirements; sustainability assessments; Capital market with a magnifying glass on social, environmental and good corporate governance aspects… All scenarios require companies to report and identify risks and impacts in a systematic way, choose indicators and set future goals.

A sustainability statement is not sufficient if there are no environmental, social and governance indicators to support it, just as ESG indicators are not sufficient if future improvement challenges are not identified.
It’s a lot. no?

Previously, companies “committed” to responding to shareholders and investors with positive profitability, increased sales and efficient productivity.

“There is no point in having a sustainability statement if there are no environmental, social and institutional indicators to support it…”
There is a lack of technical knowledge within companies, and resources to do so are often scarce; Essentially, lack of time to organize information

Before the whirlwind of orders.
Fortunately, these new requirements come with
It is technological innovation that also shows us an evolution in our daily life.
This is where companies must leverage themselves in order for these processes of regulation to take place,
Measure and survey environmental, social and governance indicators, which have been chosen with great responsibility,

They can be managed through robust, transparent and efficient processes.

In this sense, dedicated platforms, tools and digital systems are currently emerging that allow companies to have a dashboard to control sustainability; Providing easy access to work teams that analyze and upload information, as well as to users.
Through technology, the accountability process can be more dynamic, therefore
Respond periodically to information requests.

This trend has just appeared in our country and is developing, but we are increasingly seeing it in large companies.

Now, it requires responsible prior work in selecting those indicators to be managed, measured and monitored. But once they are created, technology becomes a great ally to monitor them. It is important that each company chooses the right platform according to its needs, context, organizational profile and culture; Just as you do when you choose the issues you want to work on in sustainability, choosing the accompanying digital tools is also key.
All is not lost, in the face of increasing demand, there is no need to worry, but rather: identify the company’s impact on sustainable development, environmental risks that threaten my business, relevant sustainability issues, and ESG indicators to manage, measure and organize future goals, and then communicate.
It is undoubtedly a huge task, but one that can be achieved at a steady pace, and even more so through the digitalization of processes and technological innovation.

Let us keep in mind that this is for everyone’s benefit.

She is a sustainability specialist and a sustainability partner.

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