3. CDP – The Carbon Disclosure Project (CDP) is a platform that enables companies to measure and report on their greenhouse gas emissions, water usage, and climate risk management practices. The CDP platform also provides companies with a scorecard to compare their sustainability performance with their peers. 4. The Leadership in Energy and Environmental Design (LEED) – LEED is not necessarily a platform. It is a green building certification program that evaluates buildings’ environmental performance across a variety of categories, including energy efficiency, water usage, and indoor air quality. LEED can help a business adopt sustainable building practices. The scope here is narrower than some of the other platforms. 5. Energy Star – Energy Star, is also not necessarily a platform. It is a voluntary labeling program developed by the U.S. Environmental Protection Agency (EPA) that identifies and promotes energy efficient products, buildings, and practices. Energy Star enables a business to reduce their energy consumption and costs. Sustainability platforms are a critical tool for businesses that want to improve their sustainability practices. By using sustainability platforms, companies can measure, manage, and report on their sustainability performance, improving their environmental, social, and economic impact. With so many sustainability platform options available, companies can select a platform that aligns with their specific sustainability goals and needs.
With sustainability platforms, companies can take a data- driven approach to sustainability management, which can lead to significant improvements in their environmental, social, and economic performance. Using measurable sustainability metrics(KPI’s) should be the expectation. Sustainability platforms are also essential for companies that want to enhance their public image and brand reputation. Consumers and investors are expecting companies to demonstrate their sustainability commitment, practices, and broadcast those outcomes publicly. Sustainability platforms are a way for companies to show their stakeholders that they are committed to sustainability, and it also helps them to differentiate themselves from competitors. Sustainability platforms are valuable through the supply chain. They enable company and suppliers to work together towards shared sustainability goals. By using sustainability platforms, companies can collaborate with their suppliers to improve the sustainability of their supply chains. Sustainability platforms can also help suppliers to demonstrate their sustainability practices to their customers, making them more attractive partners for sustainable companies. Suppliers can also use sustainability platforms to manage their own sustainability data, measure their environmental impact, and demonstrate their sustainability practices to their own stakeholders. By improving their sustainability practices, suppliers can increase their competitiveness and access new markets. There are several sustainability platforms available in the market, and each platform offers different features and benefits. Here are some popular sustainability platforms that companies can consider: 1. EcoVadis – EcoVadis is a cloud-based sustainability platform that provides companies with a scorecard to measure their corporate social responsibility (CSR) performance. The platform also enables companies to monitor and manage their supply chains’ sustainability practices. 2. GRI – The Global Reporting Initiative (GRI) is an international organization that provides sustainability reporting standards for companies. The GRI framework helps companies to measure and report on their sustainability performance using standardized metrics.
Rebecca Lipscomb, Director of Regulatory Affairs, INX International
FUNDAMETALS Newsletter
[4] Q2 2023
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