To remain competitive in increasingly volatile markets, a company must be able to evolve over time, responding to consumer and workforce needs and offering products and services in line with market paradigms.
This evolution cannot be successfully pursued without a business model based on the principles of sustainability, intended in all its many and complex facets. In this journey, ESG data provide important insights into areas of the business that need attention or strengths that the company can leverage to improve its offering.
However, building a business development journey based on ESG data can be a challenging operation for many organizations, especially for SMEs. That is why it is important to choose the right partner and the right technology solution, in order to make sure that all the efforts implemented don't go to wasted.
Synesgy has developed a framework to guide companies through this necessary, yet complicated, journey, thanks to a proprietary and granular solution which combines standardization to an industry-focused and localized approach.
ESG Data, discover where you are at in the journey towards sustainability
There cannot be improvement without knowledge about the current situation. That is why Synesgy’s approach starts with a Questionnaire, which is certified by the CRIF Rating Agency (CRA) and based on timely and rigorous references of global ESG market regulations and standards, such as:
- Global Reporting Initiative (GRI), an international organization that has developed and delivered the global best practice for companies to demonstrate the accountability for their ESG impacts.
- United Nation Global Compact (UNGC), a voluntary initiative based on CEO commitments to implement universal sustainability principles;
- d demonstrate accountability for their impacts on the environment, economy and people;
- UN 17 Sustainable Development Goals (SDGs), which guide international efforts in the transition to a sustainable society and economy
- EBA GUIDELINES
- EU Taxonomy for Sustainable Activities.
Synesgy's questionnaire allows the company to get a detailed overview of its ESG performance through two different levels of analysis. The first, the core, is based on GRI principles and focuses on the Business side and the Environment, Social, Governance principles. Additionally, a second level of analysis allows to assess a company’s ESG performance in relation to the specific industry, with a set of industry-specific questions (36 industries)
How Synesgy ensure the quality of ESG Data
This standards-based approach is important both because it provides common metrics for companies that want to evaluate their ESG efforts and initiatives, but also because it certifies the value of ESG Data provided by the companies.
At the same time, it is also important to consider the cCuntry where the company operates, as different countries set different ESG requirements and obligations for corporate responsibility. That is why the tailored approach that Synesgy deploys takes into consideration both local regulation and local business information.
In fact, the quality of the data is an indispensable factor in providing an accurate assessment. For this reason, Synesgy deploys both automatic and manual checks.
If the system detects inconsistencies, Synergy’s team will ask the compiler to provide supporting documentation. The team of Synesgy’s professionals, additionally, is available for supporting customers each step of the way, to accompany them in the journey towards ESG assessment and certification.
ESG Data, how to analyse it with Synesgy’s intuitive dashboards
The outcome of this journey will be an intuitive dashboard which shows how the company performs in the five macro sections of the Questionnaire: Business, Environment, Social, Governance and Sector.
This intuitive dashboard provides the overall score of the company for each macro area. In this way, the organization can see its performances and evaluate the situation along its supply chain. In fact, Synesgy also provides ESG performance Dashboards which help companies to understand and compare their suppliers’ ESG performance.
The assessment is also finalised for the purpose of obtaining a Certification, which can be immediately downloaded from the platform and has a duration of 12 months: after this time, it is necessary to repeat the assessment. Companies can monitor if they are compliant with their sustainability policies and check the progress.
improve ESG performance with the Action Plan
In addition to the Assessment and the Certificate, and organisations will receive the Synesgy’s Action Plan, which consists in 6 sections, two for every ESG Pillar.
To enhance the company’s journey toward sustainability the Action Plan provides advises useful to be implemented in the ESG Strategy.
In addition to the Assessment, the Score and the Certificate organisations will receive the Synesgy’s Action Plan, which consists in 6 sections, two for every ESG Pillar.
This output is fundamental for companies to enhance their company’s journey toward sustainability, that can use a list of a easy-to-understand material advice that shall be implemented in the ESG Strategy.
This data is important for the company to identify business areas that need more attention, as well as potential business opportunities based on ESG Data. Thanks to the knowledge and the transparency provided by the platform, businesses can easily navigate their journey towards more sustainable, resilient and competitive business models.
