ESG Reporting & Compliance

A Business Case for Digital Metering

ESG REPORTING & THE DIGITAL UTILITY

"More companies are under pressure – partly for reasons of law and mainly for reasons of reputational concern – to make emission reductions."

INCREASES IN ESG REPORTING & NET-ZERO COMMITMENTS

In 2021, more than 5,200 businesses at COP26 voluntarily pledged to meet net-zero carbon targets. 450 banks, insurers and investors committed to making their portfolios climate-neutral, and to do so by 2050.

Indeed, for years, forward-thinking companies have been introducing ESG policies. Many are keen to increase their appeal to shareholders, investors and customers.  Some adopt more sustainable business practices proactively to build business value. 

Meanwhile many companies, including manufacturers, distributors and importers are required to comply with ESG-related legislation. This includes international Extended Producer Responsibility (EPR) conditions which includes licensing, disposal, recycling, and routine reporting obligations.

ESG REPORTING REQUIREMENTS IN AUSTRALIA

ESG reporting requirements in Australia are rapidly evolving, catching up to markets abroad. But there are currently number of mandatory Commonwealth and State ESG reporting requirements under the National Greenhouse and Energy Reporting Act 2007 and Climate Change Act 2022.

There are also multiple voluntary ESG disclosures commonly made by Australian companies. This includes particular climate risk disclosures in accordance with the Sustainability Accounting Standards Board and the Taskforce on Climate-Related Financial Disclosures. 

More companies are adopting net zero commitments and aspirational targets, requiring carbon consumption, monitoring and reporting.

HOW DIGITAL UTILITIES SUPPORT ESG REPORTING & COMPLIANCE

Data is one element that can advance all 17 global Sustainable Development Goals. But a lot of work needs to be done before we can enable change.

A foundation of digital, analytic-ready consumption data is critical a critical platform for more sustainable business. Accurate insights keep companies accountable, in line with local environmental policies and business strategy. From there, a framework for efficient ongoing sustainability reporting, benchmarking, and insights and analysis right across the organisation – and even the supply-chain can be established.

HOW TO DIGITISE UTILITIES

By transforming analogue metering infrastructure into devices for remote consumption monitoring, SNAPI empowers analytics and reporting on an industrial scale. 

Digitally capturing raw energy, gas and water consumption data at multiple daily snapshots, SNAPI ensures green talk (“green washing”) or policies becomes positive green action. Insights into real-time energy consumption at the asset can provide not only statutory reporting, but forecasts and analysis on how to reduce costs and environmental impacts according to your operation.

Related: How Digital Utilities Reduce Carbon Emissions.

HOW DOES IT WORK?