To make ESG compliance simpler for business, ERM, the largest sustainability consultancy in the world, announced its partnership with osapiens, ESG platform offering cloud-based AI power. According to claims, this collaboration will make the management of ESG data more efficient so that it could help companies cope with the advancing regulatory demands and transform compliance into a source of driving sustainable growth.
The two firms use their advisory know-how in sustainability by ERM and osapiens’s advanced AI to assist businesses in their needs in managing ESG data. Together, it is giving them the ability to comply with the regulations but also use the ESG data as a strategic asset for decision-making and value creation.
In dealing with the complex ESG compliance landscape, it addresses the complexities of ESG regulation by streamlining and simplifying osapiens’s fully integrated, end-to-end ESG data platform.
With the introduction of new regulations on ESGs by most governments across the world, businesses are being squeezed between two extremes with demands for actions of all kinds to ensure compliance. There are new regulatory structures, such as the European Union Corporate Sustainability Reporting Directive (CSRD) and the EU Deforestation Regulation (EUDR), demanding comprehensive ESG reporting. It becomes extremely essential to comply with the regulations, though data collection and reporting may be complex jobs, especially for large organizations with intricate supply chains.
Olaf Schatteman, global lead for sustainable product & supply chain services at ERM, said about the landscape of ESG reports, which continues to grow more complex: “As the sustainability reporting landscape continues to grow more complex, our clients are seeking solutions that will streamline their data collection to ensure regulatory compliance.”
Where collaboration between ERM and osapiens comes in is of huge value because it can merge deep knowledge of ESG reporting from ERM together with the cutting-edge technology from osapiens to help ease the process of data management for any business and enables them to highly focus on their integration of sustainability into their operations.
Automation of Streamlining ESG Data Management
At its core, this collaboration will rest on osapiens’s AI-driven cloud platform, which automatically consolidates ESG data across multiple sources. It is not only time-saving but also indispensable for the information gathered to be accurate and consistent in fulfilling regulatory needs. What ERM does here is validation-data properly vouched for to assure stakeholders that what was delivered indeed adds up and is actionable.
The platform also helps businesses manage many sophisticated ESG assessments, including supply chain risk evaluation and deforestation rule compliance. This enables businesses to automate those processes so that they spend their time applying that data and driving meaningful sustainability initiatives, rather than getting lost in the data collection process.
“Kushal Mashru, Head of Strategic Partnerships at ERM, emphasized just how precious this partnership is:
“By applying our expertise in digital, data, and sustainability, we’ll be able to support more companies better understand the reporting landscape under the umbrella of ESG, ultimately translating collected data into needed action to operationalize sustainability across their entire operation.”
From Compliance to Sustainable Action
This alliance is special in that it gives solution based on the theme of transformation of ESG compliance from being a regulatory obligation into a strategic business asset. Proper data management leads to using ESG data in the risk and opportunity identification process, improvement of the due diligence process, and making the right decisions towards sustainable growth.
Beyond compliance, the joint cooperation of ERM with osapiens helps companies leverage their value creation potential from ESG data. Data becomes actionable insight to allow firms to foster sustainable activities in every part of their operations, supply chains, and product development processes-in all walks of business practices.
Jaime Marijuán Castro, Head of Global Partnerships and Alliances at osapiens, said:
“Together, we are enabling organizations to turn compliance into a catalyst for sustainable growth.”
Using a forward-looking approach to ESG data management will continue to empower companies not only to comply with today’s regulations but also be ready for tomorrow’s sustainability challenges. The more that companies know why ESG needs to be integrated into the core strategies of business, the more paramount it will become to convert compliance data into actionable insights in order to drive sustainability into the long term.
Comprehensive Solution for Modern Businesses
ERM and osapiens together offer a comprehensive solution to the businesses interested in simplifying their data management relating to ESG and transform the compliance function into a source of competitive advantage. The partnership offers flexibility within the current complex ESG reporting landscape by streamlining processes with automated data collection and expert validation.
Apart from complying with CSRD and EUDR, the joint offering of ERM and osapiens releases the value from the ESG data of a business, whether it is referring to managing supply chain risks, fighting deforestation through sustainable engagement, or wider sustainability initiatives.
There will be heightened demand after natural disasters in the need to ensure transparency and accountability is aligned in ESG reporting, and businesses will need to shift to better and more innovative data management. Their collaboration with osapiens is one step forward for that objective: It allows business a clear way of ESG compliance that supports both regulatory requirements and long-term sustainability objectives.
Conclusion
Recent emphasis on sustainability issues in the corporate agenda has made businesses seek partners that will help them streamline the process of ESG reporting complexity. With the partnership between ERM and osapiens, the latter brings a robust solution to modern businesses-their efficiency in managing ESG data, conformity to regulatory requirements, and transformation of compliance into a base for sustainable growth. This collaboration is going to see companies look forward to the future, where ESG compliance would represent much more than checking a box, but real, lasting changes.