Datamaran Issues Manager: make your ESG risks strategically relevant
3 December 2020 - By Ian van der Vlugt, Director of Product at Datamaran
Datamaran launches Issues Manager
The external and ESG risks that companies face today are complex: issues like climate change, human rights, public health and anti-corruption are multifaceted and often interconnected. Understanding where to focus effort and resources requires clarity on the underlying factors that affect your business, or that you affect, and the systems to govern them.
Determining how to manage the issue of diversity & inclusion, for instance, requires considering the practices and policies of non-discrimination, equal opportunity, female empowerment, and minority inclusion, among others.
It’s challenging to tackle the bigger issues; more and more, companies need to consider a wider view of the risks and opportunities they face. Using Datamaran’s data-driven approach to identify, prioritize and monitor external risks and opportunities, business leaders can cut through the noise and focus on what matters most.
With the newest feature - Issues Manager - companies gain a deeper level of understanding of the key factors most influencing their material and emerging risks, as well as the associated metrics from leading non-financial standards, including the Global Reporting Initiative (GRI) and the Sustainability Disclosure Standards Board (SASB), that can be applied to measure and manage them.
This presents executives with business-critical insight to direct action and build a more robust and agile strategy. By focusing their risk management, annual reporting and strategic vision in the right places, companies are better prepared for what’s coming around the bend.
Take control of the process
Shedding light on the specific factors associated with your material and emerging risks, Issues Manager is part of Datamaran’s commitment to ensure that its patented technology helps executives and board members, including CFOs, CROs and NEDs, understand the ESG issues that matter most to their business and make them strategically relevant - across the enterprise.
CEO and Co-founder Marjella Lecourt-Alma says: "Back in 2014, when we set up this company, we wanted to help companies decipher which ESG issues mattered most. At the time, most companies had a hard time thinking of ESG as being strategically relevant. The space became prone to box-ticking. That was our opportunity. We had ideas for how we could prove ESG was actually strategic and do this in a way that would resonate with leadership. We figured out ways to derive meaningful insights from a lot of mainstream sources using previously untapped technologies."
Only through a data-driven and dynamic approach to materiality, as recommended by leading institutions like the World Economic Forum and expected by large investment management firms like BlackRock, can business leaders navigate the increasingly complex landscape of ESG. Today, there exists a dizzying number of KPIs and data points for ESG-related risks and opportunities (more than 5,000, according to a report recently released by EFRAG). This is driving substantial action towards greater standardization and harmonization.
However, companies cannot afford to wait and see where the dust settles, especially given the pace at which ESG risks can materialize and the urgency required to address our world’s largest problems. Business leaders need to take control of the process to identify, prioritize and monitor their material issues, and then use the available standards and frameworks to ensure effective transparency and management of them.
Systematically monitor your success
“It’s never been more important and urgent to focus on sustainability and the societal trends we see than right now,” says Hexion’s CEO Graig Rogerson. “Faced with a global pandemic, climate change and opportunities surrounding diversity, equity and inclusion, we all must continue to focus our efforts. Meaningful impact is driven by action more than intent, which is why Hexion completed a materiality assessment in 2020 as part of its ongoing sustainability strategic planning initiatives. With Datamaran's data-driven approach to external risk analysis and input from key stakeholders, Hexion is now better positioned with a robust strategy to drive results and systematically monitor our success against ESG risks and opportunities.”
Datamaran provides an actionable level of data-driven insight based on company-specific analytics. Issues Manager breaks down your material and emerging issues into specific factors. Where relevant, disclosure indicators and metrics from the most widely-used non-financial standards - GRI and SASB - are listed alongside the factors, signposting how they can be measured and managed and what your audience may expect to be disclosed.
Datamaran collaborates with both SASB and GRI, enabling us to integrate these standards directly into the platform.
Make decisions based on credible data
Datamaran insights ensure that a company's risk management and reporting processes, all the way up to the Board, are consistent and include the most material ESG risks and opportunities - and that important decisions are based on credible and actionable data.
"Datamaran, with its evidence-based approach, helps us to see what is going on in the outside world. What we are really after is a more granular view of the sub-topic; how it is evolving and what issues it is becoming associated with. Once we know what topics are relevant to us and which products contribute to these special issues, we can integrate them into the innovation process, allowing us to have better insights in our product portfolio. Furthermore, as we are continuously understanding the potential opportunities and risks along our value chain that are associated with topics and trends, we can adjust and implement our activities accordingly.”
Dr. Jutta Kissel - Sustainability Manager at BASF
"Datamaran, with its evidence-based approach, helps us to see what is going on in the outside world. What we are really after is a more granular view of the sub-topic; how it is evolving and what issues it is becoming associated with. Once we know what topics are relevant to us and which products contribute to these special issues, we can integrate them into the innovation process, allowing us to have better insights in our product portfolio. Furthermore, as we are continuously understanding the potential opportunities and risks along our value chain that are associated with topics and trends, we can adjust and implement our activities accordingly.” - Jutta Kissel, BASF.
This new feature is part of Datamaran’s model of continuous innovation. In addition to providing you with reliable information to build robust strategy and risk management practices, the patented technology behind Datamaran is adaptable and its data meaningful.
To find out more about how you can use Datamaran to gain insights that help you manage risk, get in touch with our team.
See how Datamaran can help you
Datamaran is the only software analytics platform in the world that identifies and monitors external risks, including ESG. Trusted by blue-chip companies and top tier partners, it brings a data-driven business process for external risk and materiality analysis. In house - at any time.
Datamaran’s patented and award-winning technology offers real-time analytics on strategic, regulatory and reputational risks, specific to your business and value chain.
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