The effective monitoring solution for data observance towards ESG goals

In the context of businesses increasingly focusing on ESG (Environmental, Social, Governance) criteria, the adoption of technology in environmental management has become a mandatory requirement. iLotusLand has proven to be a valuable solution, helping businesses enhance transparency in reporting, ensure regulatory compliance, and systematize ESG data.

What is ESG?

What is ESG? ESG (Environmental – Social – Governance) is a set of standards that measure factors related to the sustainable development activities of a business. It includes environmental, social and corporate governance criteria.

Promoting the application of ESG throughout the value chain will encourage businesses to contribute more to the sustainable development process, with a greater impact on the community.

Read more:

• What is ESG report? How to implement ESG report
• What is ESG report? How to implement ESG report
• What is ESG Investing? What can companies do to attract investment?

Environment

The environmental standard (Environment) refers to the level of impact of the business on the environment in the production process. It includes policies on energy use, waste treatment, pollution reduction, climate change adaptation, natural resource conservation, and animal welfare.

Social

The social standard (Social) considers relationships with stakeholders both inside and outside the company. It aims at factors related to relationships with partners and customers, as well as with employees. These include:

• Ensuring privacy and security, especially of customers' personal information.
• Community-oriented activities, ensuring social justice and corporate ethics, fighting against racial and gender discrimination, ...
• Ensuring the working environment and conditions for employees. This includes ensuring occupational safety, fairness in treatment, compliance with regulations on wages, working hours, insurance policies, ...

Governance

ESG governance standards ensure that a company uses accurate and transparent accounting methods, practices honesty and diversity in selecting leadership, and is accountable to shareholders.

ESG investors may require that companies avoid conflicts of interest in selecting board members and senior executives, not use political contributions to gain preferential treatment, or engage in illegal behavior.

What are ESG standards?

ESG standards are considered a tool to assess the level of ESG practices within a company, serving as a basis to identify socially responsible companies. Businesses report their ESG practices based on sustainability reporting frameworks.

What is ESG report ?

ESG Report refers to a summary report of a business's activities related to environmental, social, and governance factors. This report provides information to stakeholders about how the business impacts the environment, society, and the economy.

ESG (Environmental, Social, and Governance) reporting is becoming increasingly important for businesses of all sizes. It's not just about compliance; it's also a tool for attracting investors, customers, and employees, while building brand reputation and managing risks effectively.

Sustainability Reporting Frameworks

The main sustainability reporting frameworks currently include:

• Global Reporting Initiative (GRI) Framework: GRI standards consist of three universal standards applicable to all organizations and 33 specific standards divided into three groups: Economic, Environmental, and Social. Organizations and businesses select and use relevant standards based on material areas.
• International Integrated Reporting Council (IIRC) Framework
• Sustainability Accounting Standards Board (SASB) Framework
• United Nations Global Compact (UNGC) Framework

In Vietnam, the Vietnam Business Council for Sustainable Development (VBCSD) under VCCI has developed the CSI 2022 index with 130 indicators. The CSI is considered a tool to support sustainable corporate governance, helping businesses assess their "health" in economic, social, and environmental aspects. Using CSI also supports businesses in implementing the ESG evaluation framework.

iLotusLand -The effective monitoring solution for data observance towards ESG goals

In an era where ESG (Environmental, Social, Governance) standards serve as a guiding principle for sustainable development, integrating technology into environmental management has become a crucial factor for businesses to achieve these goals. iLotusLand, a software solution for managing and monitoring environmental data, offers a comprehensive approach to help businesses effectively implement and maintain ESG standards.

1. How Does iLotusLand Fulfill ESG Criteria?

Environmental:

• Monitoring emissions: iLotusLand enables businesses to track and manage indicators for air emissions, wastewater, and air quality from monitoring stations.
• Data automation: Collects, analyzes, and reports real-time data, ensuring compliance with national and international environmental standards.
• Reducing environmental impact: Helps businesses control emissions, optimize resource usage, and minimize their carbon footprint.

Social:

• Enhancing transparency: Provides intuitive and accessible environmental monitoring data for stakeholders.
• Raising community awareness: Displays environmental data through reports or public LED screens, contributing to education and environmental awareness.
• Community Support: Ensures the involvement of stakeholders in the ESG implementation and reporting process.

Governance:

• Efficient management: Integrates IoT technology and automates processes to improve environmental governance.
• Regulatory compliance: Ensures businesses meet all legal requirements for environmental protection while optimizing reporting processes.
• Transparent management: Systematizes data to enhance management efficiency and facilitate audits and evaluations.

2. Key Features of iLotusLand

• Real-Time Data Tracking: Monitors environmental indicators such as air, wastewater, and water quality through a user-friendly interface.
• IoT Integration: Connects with modern devices to automatically and accurately collect data.
• Automated Reporting: Generates reports based on international standards like ISO, IFC, or local requirements.
• Management of Multiple Monitoring Stations: Easily manages hundreds of remote stations on a single platform.

iLotusLand is not just an environmental monitoring data management software; it is also a tool that helps businesses pursue sustainable development by achieving ESG criteria. With advanced features and high integration capabilities, iLotusLand provides a comprehensive solution that enhances management efficiency, optimizes resources, and strengthens commitments to the community and the environment.