*Per Bruno Guerra
In recent years we have heard a lot about ESG strategy (Environmental, Social and Governance, which translated into Portuguese means: environment, social and governance). One of the highlights of this global debate points to the responsibility and importance of companies actively participating in the fight against climate change, racism and poverty, investing in reducing the impact of their products and services on the environment, creating a more reliable and resilient, implement more management transparency and accountability.
When we focus an ESG strategy on the reality of each company, we know that technological systems and data are rapidly transforming organizations from the most different economic sectors and society. Therefore, we must and can highlight the benefits of Data Analytics so that companies can modernize and/or reinvent their businesses, aligning them with ESG goals. There is a growing need to develop and implement data-driven ESG approaches to overcome the many challenges that society, of which business is a part, faces.
A Data Analytis work should be part of the implementation of the ESG strategy in order to define measurable goals of how the company is progressing towards its sustainability objectives in the short, medium and long term.
ESG experts highlight the importance of putting effort into creating good KPIs (Key Performance Indicators or key performance indicators) and OKRs (Objectives and Key Results or Objectives and Key Results). They also point out that the 17 Sustainable Development Goals 2030, established by the UN, can be considered as the global OKRs and adapted to guide the continuous evaluation of the ESG strategy in each company.
According to Gartner, as it relates to the ESG agenda, it is possible to measure the performance of companies on “a wide range of topics, such as greenhouse gas (GHG) emissions, workforce diversity and executive compensation” , just to name a few of these topics.
Advanced data analysis and data visualization through dashboards allow organizations to know if they are meeting their ESG goals and to make the necessary course adjustments if they are far from the KPIs.
As well as educating employees about the importance of adopting Data Analytics, it is also necessary to provide guidance on the relevance of ESG, the company's motivations and the local and general benefits, in order to increase the motivation and engagement of the team.
We are part of a movement that strives to build a new model of socioeconomic development for the 21st century. We are talking about a great goal of making the world a better place, with actions that start within each organization, each company.
Bruno Guerra, CEO of IN – Business Intelligence
Notice: The opinion presented in this article is the responsibility of its author and not of ABES - Brazilian Association of Software Companies
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