Named a Leader in Inaugural Sustainability Management Software Report
We’re proud to share that OneTrust has been named a Leader in The Forrester New WaveTM: Sustainability Management Software, Q1 2022, by Forrester Research, Inc. The report analyzed 14 of most significant vendors in the market and OneTrust received differentiated scores in five of the ten evaluation criteria including materiality assessment, data management, reporting, execution roadmap and market approach.
In honor of this recognition, we sat down with Jaymin Desai, Strategic Director at OneTrust, to learn more about the Environmental, Social, and Governance (ESG) platform.
“The interconnectedness of the platforms that OneTrust offers allows enterprises to holistically consider sustainability risk impacts across the business.” – The Forrester New WaveTM: Sustainability Management Software, Q1 2022, Forrester Research, Inc.
What is ESG and why is it important?
Jaymin: I believe Environmental, Social, and Governance, also referred to as ESG, to be the evaluation and measurement of an organization’s policies and procedures as they relate to environmental sustainability and social standards.
In years past, ESG initiatives were primarily driven by the financial community in order to power more investment into environmentally sustainable funds. Today, ESG initiatives are expanding into every industry and every part of the world as corporate initiatives around climate change, gender and race equality and more are being prioritized by organizations, customers, employees, and investors. As a result, it’s more important now than ever before for organizations take account for their ESG to promote a more sustainable, ethical, and socially just society.
What’s driving the need for ESG technology solutions today?
Jaymin: The governance of ESG initiatives can vary with regulations and standards in most countries around environmental issues like fossil fuel and renewable resource use, waste management, and freshwater use. There are also numerous NGO reporting frameworks like SASB, GRI, and TCFD, and many organizations choose to create their own frameworks unique to their organization.
Because of these variables, companies are looking for a better way to be more transparent to shareholders, customers, and employees about their sustainable practices, their support for corporate social responsibilities, and to ensure there are appropriate governance practices in place.
The gathering, storing, sharing, tracking and reporting of ESG data is complex as it resides in many parts of the company, spread over many systems, and many organizations use manual methods of information gathering. To streamline this, organizations need a centralized ESG management technology to gather, track, and report on corporate ESG data.
How does OneTrust help organizations manage ESG?
Jaymin: OneTrust ESG simplifies the gathering, storing and assessing of your company’s ESG data and metrics. Our assessment platform is dynamic, so it helps identify both internal and third-party risks, mitigate these risks, and track ESG goals to demonstrate the progress and success of your ESG program.
We also provide built-in frameworks and assessments while allowing organizations to configure their own assessments and frameworks, create and distribute new ESG initiatives, track progress on these initiatives, and report to key stakeholders on their overall ESG goals.
Learn more: OneTrust ESG Platform