Strategic Focus: How Corporations Can Leverage Software to Manage ESG Risks

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Executive Summary

Businesses are under immense pressure to manage a myriad of ESG risks from an ever-increasing number of stakeholders. To manage these risks strategically and make effective business decisions, firms must collect and track data on an ongoing basis. Although a recent Verdantix survey indicated that firms are still heavily reliant on spreadsheets for managing certain aspects of ESG risk, a growing number of organizations are expected to turn towards digital solutions to help them with aspects of their ESG risk programmes. This report provides an overview of the variety and complexity of ESG-related risks faced by firms, as well as the types of digital solutions corporate leaders can use to best manage these risks. 

Table of contents

Understanding The Importance Of Effective ESG Risk Management
Firms Need To Understand A Myriad Of Risks To Inform Their Sustainability Programmes
A Diverse Set Of Buyers Will Look for Digital Solutions To Manage ESG Risks
Numerous Digital Solutions Are Available To Help Firms Manage ESG Risks

Table of figures

Figure 1. Main Categories Of ESG risk
Figure 2. Examples Of ESG Risk Factors
Figure 3. Examples Of Financial Impacts Related To ESG Risks

About the authors

Kim Knickle

Research Director, ESG & Sustainability

Kim leads the Verdantix ESG & Sustainability practice, addressing business challenges and priorities in ESG and sustainability through technology and services. Her current research agenda focuses on ESG regulatory and market drivers, sustainability reporting, risk management, supply chain sustainability, circular economy, social impact.  Knickle has worked for more than 20 years in the IT industry, providing research and analysis to help companies invest wisely in new technologies. Before joining the analyst industry, she held various roles in IT services, engineering, and product safety testing, beginning her career at Underwriters Laboratories, Inc.  Knickle holds a MBA from Boston University and a BS in electrical engineering from Cornell.

Jessica Pransky

Principal Analyst
Jessica is a Principal Analyst in the Verdantix ESG and Sustainability practice, which she joined in 2022. Prior to joining Verdantix, Jessica worked in consulting, focusing on ESG risk and opportunity identification, as well as EHS due diligence. Her current agenda covers ESG solutions for investors, ESG software, and risk in ESG and sustainability.

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