The world’s first cloud native platform for ESG Disclosure based on a GRI taxonomy
Imagine 2031. The world has reached the Sustainable Development Goals and all countries can meet basic needs like food, water, clean energy, health and well-being for their populations. The effects of climate change have stabilised. Life on land and water can flourish again. People and companies can prosper, in a sustainable manner, on our planet. This is the world we want to live in. To achieve it, we need to commit to these goals, but we also need to report on them and measure progress. With shifting public opinion and conscious investing on the rise, companies are increasingly under pressure to improve ESG disclosure.
Addressing the challenge of sustainability reporting
Businesses have a momentous role to play in addressing climate change and social inequalities, but how they report on sustainability (or Environmental and Social Governance) is far from perfect. Preparing sustainability reports is very time-consuming and labor-intensive. It’s also difficult to audit reports in this field, as most companies don’t follow a single set of standards for non-financial reporting. To help these organisations address this challenge and become stewards for sustainability, we launched Visma Sustynex, the world’s first cloud native platform for ESG Disclosure that uses a GRI taxonomy to deliver high data quality and accuracy.
Of the world’s largest 250 corporations, 92% report on their sustainability performance and 74% of these use GRI’s standards to do so. Visma Sustynex’s GRI taxonomy allows organisations to create reports with up to 2,400 different elements in 4 major categories. They go from universal standards on companies’ management approach and general disclosures, to supplier environmental assessments, environmental compliance, impact on biodiversity, water and effluents, occupational health and safety, human rights, non-discrimination in hiring practices, and more.
How does it work?
Visma Sustynex offers four main components:
- A prepare and submit portal for manually entering sustainability reports;
- An API Connector to integrate the platform with ERP, HR and other systems, allowing for automated data collection;
- A receiving portal, which can be used to receive sustainability reports;
- A taxonomy based on GRI standards, which ensures the accuracy and consistency of the data.
The output of the platform is a standardised report. Since the reports are consistent and validated, they can then be used periodically for comparison and benchmarking.
Who is it for?
Reporting parties, such as:
- Companies and organisations that want to disclose their sustainability efforts or file sustainability reports;
- Companies and organisations that need data to improve their sustainability policies;
- Organisations looking to receive reports from different (regional or departmental) offices.
Requesting parties, like:
- Institutional investors, private equity companies, banks and capital providers that want to receive sustainability reports;
- Governments and regulators;
- Industry or trade organisations;
- Companies that want to request disclosure from their suppliers or partners.
Benefits for reporting parties
- Save time and costs in creating an ESG report: retrieve the data from source systems and push it directly into the report.
- Improve the quality of reporting using the underlying taxonomy, which is based on an internationally recognised standard.
- Get real-time data to improve your ESG policies.
- Keep track of changes with easy access to previous reports.
- Attract investors and expand your footprint with qualified ESG data.
- Steer decisions in a timely way and make ESG reporting an operational best practice.
Benefits for requesting parties
- Easily track and benchmark data from multiple reporting parties.
- Get qualified and accurate data that is based on an international standard.
- Spend less time and effort collecting reports.
- Less effort to consolidate data into one report thanks to standardisation.
- Get reports in more quickly.
Why Visma Connect?
Visma Connect is the specialist in qualified information exchange. Our team is behind the Dutch taxonomy for financial reporting, which enables every legal entity in the Netherlands to report their financial statements to the chamber of commerce as required by law. Visma Sustynex is the next step in qualified information exchange. We are applying our knowledge of Standard Business Reporting in the sustainability reporting field to make this a more objective, regular and accurate practice.
Lead the change and become a steward for sustainability today! Contact us to find out how Visma Sustynex can help your organisation. Use the contact button below or call us.
Standard Business Reporting
- Standard Business Reporting
- Taxonomy Development
- The Visma Intelligence Platform
- Interfacing Services
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- The need for standards in non-financial reporting: an interview with Robert Eccles