Facilitate compliance and drive strategic, sustainable growth
Drive your organisation towards a more sustainable future with CCH Tagetik’s ESG Reporting solution.
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Why is ESG important?
For many years and certainly following the COVID 19 pandemic, ESG has lead to consumers and governments being forced to get to carbon net zero and being asked to pledge to reduce greenhouse gas emissions by investing in a climate action plan.
Day-to-day operations in the context of environmental, social, and governance, need to consider the best options for there business to head towards the government’s pledges.
UK Government has yet to state its requirements for ESG reporting, but the more forward-thinking business leaders understand the need for it anyway. A strong ESG performance means higher revenues can be gained, less risk, and more resilience during tough, competitive periods.
ESG is also a focal point for suppliers & customers looking for trustworthy companies & partners to work with. Reporting progress in this field shows that businesses are transparent about internal processes and make an effort towards bettering performance, this information shows off how committed a business is at adhering to positive ESG guidelines.
Navigating the complexities of ESG reporting can be challenging, with issues ranging from scattered data and evolving regulations to limited expertise and integration difficulties. Learn how to overcome these obstacles and leverage ESG data for informed decision-making and improved sustainability initiatives.
Complex data collection and processing
At present, most companies have ESG data scattered in subsidiary or departmental silos around the organisation, making it challenging to analyse the total ESG impact. Data is often in different formats, which impacts an organisations ability to converge and audit results.
Evolving reporting requirements, frameworks and regulations
ESG reporting is becoming a red-hot business imperative, and there’s a push for a fast evolution of reporting and regulations. Since the standard boards are responding with the promise of growing requirements, the frameworks companies use to disclose ESG information today maybe very different in a short time. Companies must have the agility to adjust.
Lack of ESG insight to drive decisions
ESG data isn’t being used to its full potential. In most cases, ESG data is divorced from financial results, companies are missing out on opportunities to use ESG data to improve the bottom line and their sustainability initiatives
Integration with Financial Reporting
Integrating ESG reporting with traditional financial reporting can be a challenge. Aligning the two sets of data and metrics to provide a comprehensive view of an organisation’s performance requires coordination and collaboration between finance and sustainability teams.
Limited Internal Expertise
ESG reporting requires a deep understanding of sustainability practices, reporting frameworks, and industry-specific ESG issues. Many organisations may lack internal expertise in these areas, making it challenging to develop and implement effective ESG strategies and reporting processes.
Drive a sustainable future with CCH Tagetik
Embrace a sustainable future with CCH Tagetik, a powerful solution designed to streamline ESG reporting and help organisations make data-driven decisions for a positive environmental, social, and governance impact. By consolidating data, navigating evolving regulations, and integrating ESG insights with financial reporting, CCH Tagetik empowers businesses to develop and implement effective sustainability strategies that align with their overall goals.
CCH Tagetik simplifies compliance, provides a comprehensive understanding of ESG impact, and integrates ESG strategy into financial processes, enabling organisations to connect financial, non-financial, and ESG data for better decision-making. By improving corporate governance and ESG ratings, companies can attract investors and drive sustainable growth.
Features & Benefits:
- Simplify compliance – Disclose according to multiple standards, frameworks, and regulations as they evolve. The CCH Tagetik solution supports the EU Taxonomy and several other standards and frameworks. For companies disclosing ESG performance in their annual reports, CCH Tagetik ESG Reporting enables you to automatically prepare financial and non-financial data for integrated disclosure.
- Understand your ESG impact – See how ESG initiatives impact your bottom line. Use scenario planning and what-if analysis to see the ripple of an ESG decision on financial statements, departmental plans, and business strategy. Create comprehensive forecasts to showcase the long-term benefits of an ESG initiative. Get a 360-degree view of how ESG impacts every department, and how every department can improve ESG.
- Leverage integrated planning – Integrate ESG strategy into all financial processes. Understand how ESG data interacts and affects financial performance and other operational information to enhance budgets, variance reports, and strategic forecasts. Then give neighbouring departments, like marketing, sales, HR, and supply chain, the ability to measure and analyse their own ESG performance.
- Connect financial, non-financial and ESG data – Since CCH Tagetik is underpinned by a powerful data engine, you can transform financial, operational, and ESG data into actionable information, while seeing how performance intersects. With all data centralised, you can find ESG opportunities in your business model, identify cost savings, and see the quantifiable benefits of your ESG strategy.
- Improve corporate governance and limit risk – Use ESG data to combat risk. Analyse your corporate risk exposure and understand its related KPIs. Use common, standardized metrics and display ESG data year-over-year. Use tables and charts to make ESG data easier to compare with other companies. Build ESG into your broader risk management framework with stringent data and governance controls.
- Improve your ESG rating – Attract investors. Mitigate financial risk and improve your ESG rating with the ability to see how sustainability initiatives will impact your ESG score. Project ESG performance using integrated forecasts, then model your ESG score based on possible outcomes.
Why choose HAYNE Solutions?
HAYNE are trusted UK CCH® Tagetik Partners with a proven ability in delivering best-in-class solutions
We are your Partner
Our reputation is well-known for our dedication and expertise in delivering best-in-class Enterprise Financial & CPM Solutions – from implementation and licence management to upgrades, training, maintenance and support.
The combination of the HAYNE focus and the strength of CCH® Tagetik delivers results for our clients time and time again. We are certified CCH® Tagetik Developers and can support you with the planning, training and implementation of your CCH Tagetik solution.