In recent years, the growing interest in sustainability and corporate social responsibility has prompted numerous companies to seek effective tools to achieve ESG (Environmental, Social, Governance) goals. This topic was addressed in our previous blog article. Fortunately, there are accessible and even free options that can guide companies in the right direction.
If the budget is limited, using established tools such as spreadsheets and CRM or ERP platforms can represent a significant first step. Collecting data on employees and stakeholders through these platforms allows for an initial analysis of the company's environmental and social impact. It is helpful to monitor resource management practices, diversity within the company, interactions with social entities, and conduct an assessment of the environmental impact of employees. In this case, the use of platforms for creating forms and conducting interviews proves advantageous.
Moreover, there are also free or nearly free tools that facilitate the creation of a more systematic data collection and help focus on the types of information needed for ESG certifications.
The Global Reporting Initiative (GRI) provides detailed guidelines for preparing sustainability reports. By using their framework, companies can identify relevant information for ESG objectives.
By participating in the Carbon Disclosure Project (CDP), companies can publicly disclose their emissions and adopt reduction practices.
The Sustainability Accounting Standards Board (SASB) offers a standard that helps companies focus on critical aspects of their industry and is freely usable for non-commercial purposes.
OpenESG is an open-source framework that facilitates the flexible implementation of sustainability and corporate social responsibility practices.
There is also a wide range of paid services for data collection and analysis for ESG certifications. Among these:
Bloomberg ESG Data Platform:Â Ideal for those seeking in-depth data, it provides comprehensive analysis and information on ESG performance.
MSCI ESG Research:Â MSCI offers detailed assessments of ESG performance, helping companies identify areas for improvement.
EcoVadis:Â This platform evaluates the sustainable performance of suppliers, providing companies with a comprehensive overview of their supply chains.
Furthermore, there is an opportunity for companies and tech startups to design small platforms using AI-powered APIs that enable the management of specific data and the creation of periodic reports for monitoring ESG goals.
For companies looking to initiate an ESG approach without overly burdening the budget, the key is to start with free and familiar tools. Gradually, as awareness and commitment increase, it's possible to explore paid solutions to gain a more comprehensive picture of ESG performance. Sustainability is an ongoing journey, and every step taken contributes to building a more responsible and conscious corporate future.