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ESG programs are not the easiest programs to manage. They are complex and can be overwhelming when considering all of the metrics, numbers, scoring methodologies, regulations, standards, presentations, and various departmental stakeholders involved in driving these programs. To complicate matters, ESG alignment does not only focus on their organization but also on the incredibly detailed relationships within the extended enterprise (i.e., third parties, fourth parties, etc.).
When all factors are at play, it is easy to lose sight of why ESG programs are important. When you think about your organization’s ESG initiatives, are the reports produced contributing to a better world or exist only to comply with legislation and to avoid fines?
Understanding your ESG program’s moral purpose is key to unlocking the value and magic of your ESG reports. “Purpose” starts with an organization’s code of conduct and mission statement. ESG programs that are fruitful are not only rooted in but stem from an organization’s mission statement. The mission statement is valued by the organization’s people. Does your organization’s people sense purpose from your quarterly ESG reports? Does your organization’s people see consistency with the mission statements of your third parties’ mission statements? An organization’s extended enterprise is a reflection of who the organization values and their mission statements matter.
When I think about what I value and why ESG is important, I think about Lake Chad. Based in the middle of Africa, surrounded by several landlocked countries, Lake Chad is both an impressive natural spectacle and a humanitarian crisis. A primary source of water for millions and a danger zone for regional wars, Lake Chad is a cautionary place to be.
To make matters worse, Lake Chad has a big problem: it’s shrinking. Imagine living in an area where basic resources are scarce and simple necessities are dissolving. Unfortunately, Lake Chad is just one example of how our collective world needs us to apply purpose to our first-world processes. Places and circumstances like this, and improving people’s livelihoods, sustainability, and the world around us are the moral drivers behind these programs.
Without third-party risk management (TPRM) automation technology, it’s hard to wrap your arms around managing these challenges. Some of the benefits of integrating ESG technology like Aravo include:
At Aravo, our mission statement is rooted in unlocking “greater purpose” which starts with enabling organizations with the technology to lift standards and create a “better world.” To do this, Aravo offers technology that can automate the “process” so ESG professionals can focus more on analyzing data and aligning with your organization’s mission statements.
Imagine reducing efforts into your ESG “processes,” unlocking deeper meaning to your ESG reports, and aligning more directly to the missional efforts of your organization and people. Your ESG narrative is not just numbers.
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