VelocityEHS and Frostbyte Consulting have partnered to enhance and speed implementation of software that can help companies quickly track and achieve ESG targets, the organizations say.
The partnership will combine VelocityEHS’s smart platform with Frostbyte’s experience in software implementation and management. The VelocityEHS Accelerate Platform is cloud-based and uses artificial intelligence to help analyze various ESG concerns and potential outcomes.
The integrated software can help companies with their toughest ESG issues, including greenhouse gas emissions, energy efficiency, water and waste, and compliance situations, the companies say. The platform streamlines data collection and management, centralizes reporting, and predicts and addresses risk.
The platform can help organizations make ESG decisions to help produce better business outcomes, and businesses with better ESG performance can improve their economic results, VelocityEHS says.
Canada-based Frostbyte has more than 20 years of experience in areas such as regulatory compliance, sustainability and ESG. The company offers software implementation to help with those situations.
VelocityEHS recently added a Green Chemistry offering as part of the Accelerate Platform that actively scans thousands of scientific journals to continually assess and update the risk profile of in-use chemicals based on the potential to cause harm.
ESG reporting and management continues to be gaining importance for many organizations. An IBM study of 3,000 CEOs found that sustainability is the top priority for nearly half of them, but a of lack reliable data can hinder their efforts.
More tools are becoming available for companies to take on sustainability; a similar partnership between PwC and Sphera is also producing a digital ESG system while Wolters Kluwer has a system that gathers data and automatically generates ESG reports for disclosure. Deloitte is investing $1 billion in a sustainability network to help businesses address their goals.
“ESG is a hot and particularly challenging topic touching every industry,” says Meredith Cywinski, VelocityEHS associate vice president of partnerships. “It’s no fad, companies are under real pressure to demonstrate the measures they’re taking against ESG and to report on performance.”