Article
How to select the right sustainability technology solution
Series: How to set up your ESG data, technology, and people for success
The technology market for sustainability is growing exponentially, but most solutions are still immature. It’s uncertain whether a universal technology will emerge, and it seems more likely that sustainability reporting will comprise a chain of systems and data streams. Your sustainability technology is therefore likely to combine multiple solutions, so be wary of any that claim to do everything!
To understand the technology currently available, we’ve created a taxonomy that captures and codifies knowledge about solutions and providers, and provides a clear market overview. In addition, our close relationships with vendors gives us first-hand knowledge of their solutions and suitability.
In the absence of any “go-to” solution, each business must identify the right technology mix for its own needs, and we’ve developed a structured decision-making approach, based on a simple series of steps:
- Identify requirements
- Solution design
- Technology selection
- Implementation
- Operate
The right solution today might not be the right one in ten years’ time, and a future transition is inevitable, so organisations can plan for it. Some are adopting niche solutions now, until enterprise solutions – or their own strategies – are more mature. Others, who favour ten-year technology investments, are adopting large-scale but early-stage systems, which they expect will mature over the coming years.
Despite the unstable technology market, the data landscape is more settled, and most reporting regulations require similar data, which can underpin both your current and future technologies. Although new data will require investment, a robust transition plan will protect its value, which will endure even as the technology changes.
Contacts
