Across the global business community, digital transformation and ESG have emerged as key priorities. Digital transformation centers on leveraging technology across the entire value chain to generate smarter and quicker business decisions.
On the other hand, ESG underscores the broader value a business is anticipated to deliver for its stakeholders, encompassing environmental, social, and governance perspectives. These objectives are not mutually exclusive and are increasingly recognized as interconnected in today's economy. With that being said, is crucial to integrate ESG compliance and reporting into a company's overarching digital transformation strategy to optimize efficiency and derive greater value from digital solutions.
Digital solutions that incorporate ESG data management tools empower businesses to efficiently capture, analyse, monitor, and disclose non-financial information. Such solutions play an important role in ensuring credibility of information, essential for independent assurance of non-financial disclosures.
BDO offers support in various areas, with examples including:
- Data Governance, Security & Privacy: Developing and implementing robust ESG data security controls, a critical material indicator for ESG performance.
- Data Transformation & Reporting: Automating data capture and ESG reporting processes.
- Data Quality: Cleansing ESG data to ensure accuracy, enabling the utilization of precise information for ESG reporting.
- Data Assurance: Providing assurance on ESG data governance frameworks and assisting in identifying ESG data risks and controls.