Despite soaring demand for digital sustainability and ESG solutions, a new study by KPMG US finds that nearly half of large companies surveyed still use spreadsheets to manage ESG data. It became clear.
The study included 550 board members, executives, and managers from public and private companies, primarily in North America and Europe, with sales of $1 billion, representing approximately two-thirds of the companies surveyed. It exceeds the US dollar.
Reliance on manual processes to manage ESG data
While most respondents expressed confidence that their companies were ahead of the curve with their ESG data and reporting capabilities, the survey found that they were surprisingly reliant on manual processes, particularly when it came to the use of spreadsheets. It becomes clear that there are.
The survey appears to reveal a gap between perceived ESG reporting capabilities and actual preparedness, with 83% of respondents saying their organization is outperforming its peers in sustainability reporting. Despite believing they are ahead of the curve, 47% still use spreadsheets as their primary ESG data management system.
Organizations that participated in the survey believe that building an ESG capability is important not only to meet compliance requirements but also to improve organizational performance. ESG data analysis, supply chain sustainability management, ESG risk assessment and management, and carbon emissions management and reporting are all considered valuable skills for expanding ESG capabilities within companies.
The study also explored some of the key barriers companies face in integrating sustainability strategies within broader business objectives. Key barriers to sustainability integration include insufficient resources or the ability to collaborate effectively (44%), difficulty measuring the ROI of ESG activities (21%), and budget constraints or competing priorities (19%). ) It is included. Internal silos and limited communication between departments were also major challenges.
More accurate and efficient ESG software replaces manual processes
While this research highlights the need for a consistent ESG strategy that leverages technology, implementing ESG software remains critical for large companies to address gaps, especially around manual processes.
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