Preparing, analyzing, and transparently providing all relevant data related to Environment, Social, and Governance (ESG) is essential to fulfill the legal obligations for sustainability reporting. However, efficient, tool-based data management offers companies much more. As a new whitepaper by Lufthansa Industry Solutions shows, it also helps them to sustainably secure their own competitiveness through strategic sustainability management.
Norderstedt, July 18, 2023 – Numerous laws and regulations at both the national and European levels require companies in Germany to prioritize sustainability. Corporations as well as medium-sized businesses must document and disclose sustainable practices in their annual reports in the areas of Environment, Social, and Governance (ESG). "To achieve this goal, the consolidation of relevant data is essential," says Thomas Nock, Business Director Logistics at Lufthansa Industry Solutions (LHIND).
Data provides impulses for new sustainable business models
To transparently showcase the sustainable orientation of their business model, companies require appropriate key performance indicators (KPIs). These key metrics are generated from various data sources:
- master data is stored in the ERP system,
- consumption data can be exported from an energy management software,
- and machine and process data need to be extracted through interfaces.
Thomas Nock states, "Data acquisition is the key challenge of the entire sustainability reporting process. All business units must be involved to consolidate the relevant data sources." In a recent whitepaper, ESG and data experts from LHIND describe how companies can meet their legal reporting obligations through efficient sustainability management and generate insights and impulses for new products and business models.