3 Sustainability Tools that got our Attention in 2015
We appreciate good calculation tools. We are constantly looking for the most comprehensive or best combinations of calculation tools to cross check and ensure our clients are getting the best possible data.
Here were three tools that got our attention in 2015:
GCSP-ITC Quick Scan Tool – Launched in June, this open-source tool allows companies to compare their compliance policies against best practices in order to inform improvements in supply-chain management. Provided by the Global Social Compliance Programme (GCSP), it is open to GCSP members and others free of charge.
- How it works: Buying companies can identify standards others use in purchasing. Suppliers can create a self-assessment, benchmark the assessment against peers, and identify immediate steps to move toward best practice.
- Who should use it: Anyone with a medium to lengthy supply chain or who is a supplier.
Water Risk Valuation Tool – Launched in September by Bloomberg ESG Data and Tols, this calculator illustrates how water risk can be valuated in corporate mining valuation models. Based on the gold and copper mining industries, this tool can inform all mining companies on how water risk might effect earnings and operations.
- How it works: The tool models potential “asset stranding” based on estimated future water scarcity and risk factors related to that scarcity.
- Who should use it: Mining companies, especially in precious metals
RiskHorizon – Launched in October by Anthesis Group, this web-based toold quantifies and monetizes environmental, social, and governance risk over 25 political, economic, social, and environmental areas, aggregating 100 different datasets.
- How it works: The tool is designed to help “futurecast” risks and opportunities in assets, supply chain, and business model and then quantify and prioritize the value of that risk. A big job.
- Who should use it: Investors, risk management professionals, supply chain managers, and strategic leaders should all be interested in a company’s risk profile.
One thing to remember - data out of context or too generalized really won't do anyone any good. Ensure you're working with a sustainability professional that can help validate and contextualize your data in your reporting process and sustainability planning programs.
Have you used a calculator, but aren’t quite sure how to take action on results? Let us know. We can help assess your findings and customize a plan to help your company align with best practice in sustainability.