At a glance
- Reveals surprising ESG data findings showing heavy reliance on spreadsheets for sustainability reporting.
- Highlights the risks and inefficiencies of outdated manual processes in ESG data management.
- Discusses how outsourcing sustainability reporting can optimise resources and reduce costs.
- Emphasises the need for modern data solutions to meet growing ESG compliance demands.
In their recent survey, KPMG found that almost half of large organisations are still using spreadsheets to manage their Environmental, Social, and Governance (ESG) data.
Reported in ESG Today, survey respondents believe they are ahead of peers regarding ESG reporting (83%), however, surprisingly, almost half (47%) admit to using spreadsheets for managing their sustainability data.
Our CEO Craig Lefoe said he believes this figure represents a huge opportunity in Australia.
“If 47 per cent are still using spreadsheets, then that is 47 per cent who have before them, had the choice to ditch the spreadsheets for something more accurate, auditable and automated. Something they would feel confident about sharing not only with the government, but with customers, investors, and staff.”
Lefoe said.
“To meet accelerated reporting timelines, the sustainability reporting process must become more controlled and efficient, which is difficult, if not impossible to accomplish in spreadsheets.”
Lefoe said increasingly organisations are optimising their employee mix and reducing the impact on their bottom line by outsourcing the majority of sustainability reporting processes.
“Regulatory reporting and impending Australian sustainability mandates are driving the need for more transparency and accountability over ESG information. There is also a huge opportunity for leaders to use the reporting data gained to identify risks and opportunities for business growth and significantly improve their bottom line in the process."
COSOL’s Sustainability Suite is the opposite of spreadsheets.
It’s robust, automated, simple to use, not prone to human error, giving businesses certainly of compliance, whilst driving top and bottom line gains.
About Craig Lefoe
CEO, Toustone | A COSOL Company
Craig Lefoe is Co-Founder and CEO of Toustone - A COSOL Company. With 30+ years in BI, infrastructure, and app development, he’s known for pioneering practical, data-driven solutions that deliver real business impact. A long-time advocate for cloud and AI, Craig helps organisations use technology to solve challenges and meet goals. His work has earned him speaking invitations from government, nonprofit, and private sectors alike.