Construction Firms: a 5-Step Fast-Start Guide to ESG Reporting
ESG reporting is a deep dive into the entire environmental and social impact of your firm, plus an examination of your total corporate governance processes. Unlike many ISO standards, ESG reporting is multi-disciplinary.
You’ll need input from across the organisation, and success requires both steady guidance and perseverance.
1. Selecting the optimum reporting platform
Unless your firm has global operations there’s no need to spend a fortune on technology which will remain unused. In construction, you’ll almost never have to worry about on-site reporting. From the smallest SME to mid-sized corporations, the entire ESG reporting can be completed with modular SaaS-based software. ESG reporting requires specialist software which presents your data in a structured format, easily verifiable by independent auditors. As a rule of thumb, you’ll need just one or two licenses over your first year.
2. Which ESG Framework is Best?
There are more than fifty ESG reporting frameworks, each comprised of many
(sometimes hundred) of standards. The ideal starting point is the GRI standard developed over many years by the Global Reporting Initiative. This is now fully aligned with the United Nations Sustainable Development Goals, or SDG. Once you’ve mastered the GRI, you’ll want to integrate elements of other frameworks, most typically choosing between SFDR, TCFD, and EU Supply Chain. It’s critical to choose a software which can adapt to the needs of your organisation. Construction Firms: a 5-Step Fast-Start Guide to ESG Reporting BRIEFING PAPER
3. Designate your project lead(s)
Invariably, you want one person to carry the mantle of ESG reporting, and they need to be given the unconditional support of your Executive. The larger your organisation, the more likely it is that they will have to designate responsibilities to various departments, especially Human Resources, Finance, and Health and Safety. Your ESG designates will require considerable external guidance in the early stages, and over time they will become quite self-sufficient.
4. External support is essential
We believe ESG reporting should rely on the client’s internal staff ably assisted by a dedicated consultant, responding to your team’s needs. A three-hour engagement can prove just as effective as a full day, if structured correctly. Since your staff are unlikely to be assigned full-time, these unfamiliar tasks benefit from dedicated consultants devoted to your project. This ensures step-by-step training and auditing as they progress through the reporting stages.
5. Don’t run before you can walk!
ESG PRO’s reporting platform is used by some of the biggest global brand names, but the reality is that in the UK construction sector you are unlikely to require advanced climate risks modelling and reputation risk management. The best approach is to pay extreme attention to the fundamentals, and to use the KPIs and Action Plan modules to self-fund the entire project. You’ll discover quickly almost unlimited opportunities to reduce costs and enhance efficiency. ESG reporting: what is your next step? We offer the most cost-effective ESG software reporting platform together with the light-touch guidance so you can get started and produce results quickly. Our combined service can save your firm as much as 90% vs. relying on hiring inhouse consultants or handing the process over to a ‘Big 5’ consultancy corporation. Our software is already used by Morgan Stanley, DOW, Facebook, Geobrugg AG, Geodiss, and many small and medium enterprises too. We’re perfectly positioned to help any UK SME in the construction sector. It’s time to talk!