Are You Ready for the ESG Revolution?

ESG: You’re more prepared than you think

ESG regulations are likely to go up and down the value chain

Are you ready for the ESG revolution?

Though the thought of undertaking Environmental, Social and Governance (ESG) reporting and becoming compliant might seem overwhelming at first, many companies will find that they are already contributing to many aspects of ESG reporting. Do you train on bribery and tax evasion? If so, that is a key factor in reducing the risk of a governance failure. Maybe your company does diversity audits? Or has a progressive HR policy? If so, you’re already ahead on the social aspect. Does your organization have a recycling policy? Then you’ve already got a head start on the environmental reporting front.

Since many companies probably already have systems in place for environmental reports, social questionnaires, and governance compliance training, it might be less of an issue of undertaking an entirely new and overwhelming project and more of a case of doing a bit of reorganisation and pulling already-existing reporting together under one unified ESG umbrella.

But what about end use and supply chain?

Good question. The proposed ESG regulations in several countries are likely to go up and down the value chain, which means customers as well as suppliers. Businesses will likely be required to carry out due diligence on their supply chains and publish how they are sourcing key commodities responsibly. Regulators are becoming more alert, and investors are paying attention too, looking for high ESG-scoring companies.

How can we help?

If you’re looking to learn more about ESG reporting or to begin the process, you’ve come to the right place. Here are a few ways to get a head start, ensuring that when regulations come into force, you’ll be ready:

1. Get educated:

Webinar: VinciWorks recently held an ESG webinar that covered many topics surrounding ESG, including the new regulations in the US, UK and EU, how to undertake an internal ESG audit, and how to prepare for ESG reporting. We also answered listeners’ questions on the topic.
Blogs: we’ve published a few blogs covering ESG topics from various different angles. You can take a look at them here.

2. Get started

Supplier onboarding form — Our supplier onboarding form is fully customisable and allows business to ensure compliance with the latest ESG measures

With Omnitrack, our easy to use, fully-customisable tracking and reporting tool, organisations can manage their entire ESG compliance process. From building compliance forms from scratch to using our best-practice templates as a starting point, we have you covered. With regard to ensuring compliance across the supply chain, our supplier onboarding form is just the thing. The forms are fully customisable and include conditional logic so that suppliers are only presented with questions relevant to their services and products. Suppliers who don’t respond are sent email reminders and red flags are automatically escalated. The graphical dashboard aggregates the data and delivers instant analysis. Omnitrack‘s supplier tracker offers administrators new insights and breakthrough levels of ease and efficiency.

Features

100% customisable — admins can edit any form from our template library
Conditional logic — the form adapts as it is completed, so that only relevant questions are asked
Includes built-in workflows for different jurisdictions
Securely share analysis and information between offices
Get started right away with best practice templates
Create graphical reports in seconds

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”