Issue link: https://resources.tangoanalytics.com/i/1508314
Phase 5 Communicate data requirements with relevant internal and external stakeholders such as suppliers if your firm is reporting on scope 3 metrics. Ensure frequent communication with suppliers and key stakeholders to keep data streams consistent. Evaluate current systems of internal control and data governance, and define data owners' roles and responsibilities. Determine what teams are responsible for climate-related or ESG data, while establishing lines of communication across all business levels and teams for sharing data and sustainability information to reduce data silos. Those working on sustainability reporting are not necessarily the chief engineers and facility managers. How do you make that data available so you can make improvements over time? Automate your reporting process and data collection as much as possible, while remaining adaptable to the changing landscape of reporting. Setting up Data Management Ensure the credibility of your reported content, for example, by reference to independent studies, external benchmarking, expert review panels, or through conventional assurance. Acquiring independent assurance is expected to play a major role in companies managing their risk and meeting expected requirements. Keep up with industry reporting trends by subscribing to newsletters, or hiring sustainability experts, or consultants. Seek Assurance and Keep up with Industry Changes Integrating sustainability and energy data within your firm's operational processes is an important part of achieving long-term benefits of sustainability efforts and ensuring data accuracy. Illustrate how your sustainability strategy has had an impact on the bottom line and define means of maximizing economic profit based on sustainability reporting initiatives through KPIs. Maintain the perspective that emissions reduction targets and sustainability goals within reports can often go hand in hand with long-term cost reductions and increased efficiency. Operationalizing and Communicating Sustainability Phase 6 Phase 7 Sustainability & Energy Management Simplified