Blog
Purpose of ESG Data
Monday 28th March 2022
Corporate ESG data allows both management and stakeholders to make decisions and take actions to solve problems, create solutions and maximize benefits to the organisation and to all stakeholders.
The best ESG data is accurate data so digitalising your operational process across data collection, tracking , monitoring and reporting by deploying ESG platforms means you will accelerate the quality captured data and improve overall data management as well as experience high levels of governance and audit trails.
What is ESG data management?
ESG data management is the practice of collecting, curating, and managing data securely, efficiently, and cost-effectively.
Good data management helps ensure that users have trust and confidence in the data being precise without the need for manual alignment or data reconciliation.
The seven dimensions of data quality are:
• Accuracy: the precision of data.
• Completeness: required data across data records.
• Conformity: data alignment to standards.
• Consistency: assurance that data values, formats and definitions agree.
• Coverage: breadth, depth and availability of data that exists.
• Timeliness: measurement data that is functionally available when needed.
• Uniqueness: objective is a single source of truth.
ESG Platforms like myConsole means accuracy of data across all ESG dimensions enabling:
• Performance measurement on all material issues that matter to the business.
• Performance analytics - over time, against targets, to inform the management of these issues.
• Stakeholders to make the best-informed decisions
If you are experiencing relatively poor quality data or reliable ESG data is a consistent challenge, then please speak to us.
myConsole will digitise your data collection within a single centralised system that automates your data governance and reporting processes that improves the quality of your ESG data.