WEF - The No. 1 ESG Challenge Organizations Face: Data

The foundations of a strong ESG program are built on data. Data-rich organizations operate more efficiently, more decisively and with greater foresight than their peers — and this is particularly true in a complex, evolving area like ESG. An organization that is able to fully integrate ESG into corporate strategy, with a symbiotic relationship between day-to-day business and ESG goals, will find itself in a much stronger position than its peers.

Reporting, ultimately, should be a by-product of an ESG program where real-time data is integrated into decision making on a continuous, ongoing basis. The alternative – reporting either annually or biannually, attempting to amalgamate data from a variety of disparate sources in a short time period – is much more difficult, and much more susceptible to error and risk.

Source: https://www.weforum.org/agenda/2021/10/no-1-esg-challenge-data-environmental-social-governance-reporting/