| Who Cares Wins also included an acronym to highlight the three key areas of environmental, social and governance that the report’s authors said needed to be factored in investment decisions to “contribute to more stable and predictable markets”2.
And so ESG received its first mainstream mention in the modern context3.
Almost 20 years on and Australian businesses must now meet mandatory ESG reporting requirements or are under increasing pressure to voluntarily disclose their commitments and measurements. PwC has declared “the stakes for ESG reporting are at an all-time high”4 and suggested ASX200 disclosure levels will need to be “significantly enhanced” to meet global disclosure standards proposed by the International Sustainability Standards Board (ISSB)4.
The challenges are particularly critical for the natural resources sector, which knows it is under heightened scrutiny and dealing with enormous complexity as it tracks emissions in its supply chain. Companies are struggling with manual and decentralised collection of emissions and energy usage data, in turn making it difficult to monitor performance against sustainability goals across siloed business functions and distributed supply chains.
To help your organisation improve ESG reporting and achieve instant impacts and long-term sustainability, here are five steps to boost the journey to net zero:
Be it mining, oil or gas, pressure is on the natural resources industry to cut waste and streamline processes. Learn how Innovior is helping companies automate work order reporting, digitise FIFO camp management and create workflows for plant design changes.