The AXIOM Sustainability For Business FAQ Part Two

Last month, we looked at some of the sustainability for business FAQ’s we get asked. As well as exploring why sustainability is significant, we discussed the difference between the three scope emissions – as well as talking about how businesses can begin their own sustainability journey.

In part two of our sustainability for business FAQ’s, we explore some of the challenges you can expect when making an active commitment to being a more sustainable and durable business, and how you can overcome then.

What Are Some of the Most Common Challenges?

Striving to be a more sustainable business comes with a multitude of challenges – but one of the common hurdles we come across most is when it comes to scope emissions.

At Axiom, we give businesses the technology they need to measure, calculate and report on key data, and Scope 1, Scope 2 and Scope 3 emissions are part of this. However, whilst Scopes 1 and 2 are relatively straightforward, Scope 3 is much more complicated.

Scope 3 covers supply chain emissions, so it encompasses the emissions which are outside of a businesses direct control. As a result, it can be much more difficult to monitor, measure and change them.

Other challenges include simply knowing where to start. The world of sustainability can seem hugely daunting, and it can be hard identifying what steps you first need to take.

What is Energy and Carbon Reporting and Why is it Important?

Streamlined Energy & Carbon Reporting (SECR) requires certain organisations to report energy and carbon emissions in their annual report. It replaced the Carbon Reduction Commitment (CRC) Energy Efficiency Scheme.

Energy and Carbon reporting is mandatory for certain businesses that are already obliged to report under mandatory greenhouse gas reporting regulations. It also includes all businesses classified as “large” under the Companies Act 2006. This includes all quoted companies.

Although it is not compulsory for smaller businesses, measuring and reporting is an effective way of accelerating the journey towards sustainability. It equips business owners with a comprehensive overview of their emissions and environmental impact – which can be used to track progress. This is important for organisations who want access to tangible data which shows where they are, and how far they have to go before they reach their goals.

What is ESG and How can Gathering ESG Data Benefit my Business?

ESG stands for Environmental, Social, and Governance.

They can be seen as the three cornerstones of sustainability, and the areas that organisations are judged on. Gathering ESG data is therefore a great way to prove performance and identify areas for improvement.

This data can be very useful from a business perspective as it can be used to attract talent and differentiate your business from competitors. This is because ESG reveals the social impact of your business. Score highly on social metrics, and it can make you more attractive as an employer.

Whilst this data can highlight positive aspects of your business, it is further valuable in the fact it reveals the areas of your business which need improving. From employee dissatisfaction and gender pay gaps through to emissions data and more – ESG reporting is an integral part of becoming a sustainable business.

What Role can Technology Play in my Sustainability Journey?

Gathering, measuring and calculating emissions data helps you validate sustainability claims and gives you an overview of your organisation’s overall environmental impact.

However – gathering and reporting on this data manually has the potential to be very laborious, which can lead to inaccurate or incomplete results. This can impact your decision making, so it’s essential that the data you collect and collate is up-to-date and accurate.

This is where technology comes in. We provide your business with complete visibility, access and control over the data you need for quick and easy reporting with the help of our specialist technology. AXIOM software automatically collects, collates and measures sustainability data to make the reporting process simple – helping you and your business to stay compliant with increasingly stringent sustainability legislation.