The Sustainability Summit and Awards 2023, a forum for discussions and collaboration, recently concluded in Bangalore. The one-day summit saw participation from some of the biggest companies in India, like Hindustan Coca-Cola Beverages Pvt. Ltd., Tech Mahindra, and Tata Consultancy Services, among many others.
Treeni was a silver partner at the event. As a strong advocate for knowledge sharing and collaboration, we recognize the importance of creating an ecosystem where expertise and insights are shared to drive positive outcomes for all stakeholders.
The takeaway from the summit echoed what we at Treeni have stood for since inception - sustainability is no longer just about surviving in the present; it's about ensuring that our actions today do not compromise the ability of future generations to thrive.
Changing Status Quo:
The summit highlighted the vital role of ESG in nudging businesses and society onto sustainability. ESG has fundamentally changed how companies quantify their impact. There is still a long way for universal frameworks and standardized reporting practices. However, ESG has helped entities to map, measure, and maximize their ROI on sustainability.
The ESG roadmap helps companies navigate the long-term, multi-dimensional, and fundamentally transformational process called sustainability. It has also moved the needle in favor of responsible business practices and provided common measurable goals everyone can buy into.
More and more companies are becoming aware of the positive business impact of sustainability and putting in more resources for adopting and optimizing their ESG strategies.
Engaging Empowered Stakeholders:
Sustainability is essential for the future of business and society. Stakeholders are increasingly discerning and demanding that companies take action to protect the environment, promote social responsibility, and uphold good governance.
Narendra Kale, Global Head of Operations – ESG and Portfolio Monitoring, Apex Group Ltd aptly highlighted the impact of sustainability awareness on businesses. He stated, “Stakeholders have stopped investing in companies damaging our environment by not contributing to sustainability.”
“Who pays the price for not following ESG? - The end consumer. It is not right to pass the buck on to them”, stated Abhishek Ranjan, Senior Director and Head of Sustainability, CSR and Diversity, Brillio. We believe consumers today are more informed about the impact of large companies and more empowered to make decisions that would protect their well-being. Meaningful stakeholder engagement and addressing their pressing issues are paramount steps for a successful ESG journey.
Data and Technology:
Data is critical for driving sustainable decisions. From procurement to downstream scope three emissions, data helps companies gain clarity on their operations. It can also help optimize the use of resources and the formation of new policies to minimize their environmental and social footprint by identifying areas for improvement and tracking their progress over time. Moreover, data can also ease the process of compliance.
Subramanian Kuppuswamim, Global Head of Sustainable Banking Finance and Investments at Tata Consultancy Services, stated the crucial role of data in environmental considerations during a panel discussion - "Sustainability hinges on finite resources. Transparency through data is vital."
Technology can play an essential role in enabling sustainability through data. Tech-enhanced solutions like IoT, Blockchain, Artificial Intelligence, and Machine Learning can help companies reduce emissions, conserve resources, and improve ESG performance.
SaaS-based platforms like Treeni’s resustain™ can help large companies streamline their supply chain sustainability by deploying ready-to-use ESG reporting tools to all their SMB suppliers en masse. This can effectively create visibility, helping leadership make informed decisions.
What Do Enterprises Want?
As more and more large players start incorporating ESG in their core business ethos, they seek new partners to help them with newly discovered knowledge gaps. Here are some primary solutions enterprises require to simplify their ESG journey.
Help in assessing and reducing their supply chain’s scope-3 emissions
Industry and region-specific supply chain expertise to be able to extract and leverage relevant ESG data
ESG consulting services to help them develop and implement customized ESG strategies
Help in becoming more transparent about their ESG performance and disclosures
Educate employees about sustainability and how they can help to reduce their company's environmental impact
Treeni’s offerings lie at the intersection of these knowledge gaps and the digital revolution. We leverage technology and industry expertise to offer customizable solutions, resulting in less legwork for enterprises.
We have established product market fit with the resustain™ SaaS platform - the sustainability data baseline in resustain™ enables enterprises to define strategy and a roadmap to achieve goals & targets. The two platforms we offer include:
resustain™ Enterprise: ESG data management, dashboards & insights, performance management, and reporting platform for large global enterprises
resustain™ SMB: Addresses the unmet need for ESG data & performance management, and the ability to address customer demands for CDP, Ecovadis reporting in the SMB (small and medium-sized business) segment
Along with SaaS platforms, we also offer Managed Services. It includes a dedicated team of experts that engages directly with SMB suppliers to help them through the entire process of data collection, data management, and reporting to different frameworks (CDP, Ecovadis, BRSR, etc.) This allows suppliers to improve their ESG performance while aligning with the enterprise’s goals and targets.
Sustainability is a critical challenge for our time but also presents a significant business opportunity. By embracing sustainability, companies can attract and retain top talent, reduce costs, and improve operational efficiency.
We were delighted to participate in the Sustainability Summit and Awards, which encourages discourse and industry collaboration. We would also like to thank UBS Forums for organizing the summit. We hope to see many such events in the future.
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