To account for the large and growing number of sustainability reporting standards and certifications in use in the global marketplace, Stibo Systems’ Sustainability Data Management solution seeks to streamline and simplify the process of managing environmental, social and governance (ESG) assessments, and then apply that process to product, supplier, or location data to help satisfy compliance requirements.
In a rapidly changing world, organizations aiming to maximize the value of their global operations are being asked to comply with ever-evolving assessments and certifications. This requires companies to track these assessments to ensure regulations are correctly incorporated into the organization’s policy, practices, and processes. Sustainability master data management (MDM) of the kind administered by the Sustainability solution enables customers in the manufacturing, retail, and distribution sectors to effectively meet regulatory policies, directives, laws, and measures defined by both national and international standards. Failure to adhere to compliance standards can result in heavy fines, brand damage, and weakened relationships with suppliers and consumers, which makes implementation of an effective sustainability solution an important part of a robust growth strategy.