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Environmental, Social, and Governance (ESG) Software Platform
ESG
Why OESuite® for ESG Matters
When a board of directors is discussing sustainable business performance, they need to quantify performance for investor transparency. The Environmental, Social and Governance (ESG) Solution from OESuite® provides the tools they need. Failing to execute on ESG initiatives poses a risk for today’s companies. The Operational Sustainability® (OS) OESuite® ESG Solution enables organizations to meet their long-term sustainability objectives and targets by integrating, gathering, analyzing, validating, managing, and reporting essential interrelated data for Scope 1, 2, 3, and 4 emissions.
Our joint offering with IBM® creates an end-to-end solution for Greenhouse Gas (GHG) management by embedding sustainability in your core culture to enhance operational performance, reduce emissions, and accelerate decarbonization.
OESuite® Business Benefits for ESG
Companies who achieve their ESG goals can experience new levels of performance, leading to optimal profitability and top quartile performance. As responsible investors and customers seek to gain a competitive advantage by reporting and managing their climate impacts while reducing their operating costs, they will be seen as creating value while yielding superior investments.
ESG – Key Outcomes
ESG is part of an overall Enterprise Risk Management (ERM) strategy for companies seeking to address material topics (e.g., climate change, GHG emissions), achieve sustainable development goals, and maintain their license to operate. Leveraging the OESuite® ESG Solution can help companies achieve:
- Strategy development and validation: assessing data readiness, conducting materiality analyses, and creating auditable criteria with specific metrics and supporting definitions to enable clear risk transparency
- Emissions management: ensuring compliance with permit requirements, calculating emissions, and optimizing facilities to achieve a zero-carbon future through pre-built connectors to existing systems
- Carbon accounting: capturing emissions and reduction opportunities, evaluating scenarios, and auditing and benchmarking performance down to the individual assets
- Goal setting and tracking: setting goals for emissions reductions, automating end-to-end processes, validating assumptions and calculations, and managing emission factors in a single source of truth
- Analytics: aggregating performance across facilities, setting targets, and demonstrating performance against established targets
OESuite® Integrations & Connectors
Our ESG Solution enhances transparency through integration of key reporting functions. Companies can baseline emissions, assess scenarios to reduce their carbon footprint, and demonstrate incremental improvements while moving toward decarbonization goals.
Key integration points include:
- Roll-up reporting on emissions (e.g., air, water, waste, fugitives)
- Continuous Emissions Monitors (CEMS)
- Laboratory Information Management Systems (LIMS)
- Operator rounds with task and compliance management
- Maintenance and Work Management
- SCADA and Data Historians
- Visual Inspections
OESuite® ESG Data Analysis & Visualization
ESG requires a single source of truth supported by a unified data structure that holistically addresses ESG efforts, leading to more efficient execution and insights across an organization. The OESuite® ESG Solution interoperable modules integrate with IBM’s® offering to deliver the end-to-end platform and technical content necessary to achieve your ESG goals.
Dashboards and technical content within OESuite® includes:
- Intensity benchmarking by industry segment
- General GHG emissions trending
- Subpart-W equipment specific intensity measurements
- Breakdown of total emissions by source type
- ESG filings for each parent company
- Finance reviews for each parent company and comparison to overall emissions
- OSHA data
Why should companies invest in ESG initiatives?
ESG is becoming an industry requirement around the world as part of investment or purchase criteria. In fact, most Fortune 1000 companies are committed to decarbonization by 2050. Companies making net-zero pledges doubled from 500 in 2019 to more than 1,000 in 2020. This growing focus on ESG means that subsequent requirements are rapidly evolving and there is likely to be significant change in reporting requirements soon. To meet their commitments and demonstrate incremental improvement along the journey to zero carbon, companies will need to leverage wholesale transformation through new approaches to governance, with interoperability as a key mechanism to deliver on ESG goals.
To get started today, companies will need to baseline their emissions and develop a strategy for reaching their stated objectives, often by minimizing their Scope 1, 2, 3, and 4 emissions. This will also require some re-engineering to meet ESG requirements while trading allowances and depreciating their equipment all in one framework. Operational constraints, compliance, and reliability limits all need to be embedded into the ESG decision-making process to have a clear picture of your opportunities, challenges, and outcomes.