RiskLogix ESG
Environmental, Social and Governance (ESG) is a crucial area for firms to set goals, manage and measure the impact of their business activities, policies and procedures on all areas of the firm and its stakeholders.
ESG has a direct impact on a firm’s reputation, valuation, revenue and profitability[1].
RiskLogix has created an ESG solution that meets current requirements to manage ESG effectively, with built-in future proofing as new regulations and requirements are introduced around the World.
RiskLogix ESG is a standalone solution that can integrate with other GRC applications, including the award-winning RiskLogix aCCelerate GRC + platform.
RiskLogix ESG enables firms to have an integrated end-to-end solution, from ESG objectives and material topics through to 3rd part supply chain management.
[1] ESG and Financial Performance: NYU Stern Center for Sustainable Business and Rockefeller Asset Management meta-analysis of over 1,000 studies
Frameworks
- Material topics can be mapped to ESG standards and guidelines, policies, business lines, countries, regulatory frameworks.
- Business Universe definition by country, business lines
- Management of objectives, material topics, threats to material topics, mitigants of threats, metrics, incidents and actions
- Definition of entire ESG related universe
Objectives
- Goals and objectives defined for ESG topics in as much granularity as required
- Linkage of objectives to material topics, standards, policies, metrics, future regulations and where in the business these are impacted
Assessments
- Covering material topics, threats to material topics and their mitigants, metrics and monitoring of threats and mitigants
- Full assessment functionality for material topics, threats to material topics and their mitigants, metrics and monitoring of threats and mitigants
- Supplier assessment and monitoring
Content
- Centralised libraries of material topics, threats to material topics and their mitigants, metrics and monitoring of threats and mitigants
- Detailed linkage of ESG data, for example policies to objectives and material topics, standards to business lines.
- Multiple standards can be precisely aligned to the parts of the business impacted
- Integration with third party systems
- Horizon scanning
- Compliance standards
- A variety of industry data can be held, for example
- o Risk data
- o Climate data
- o Human capital data
Automated workflow
- Workflow is automated and has built in conditional logic
- Supports multiple workflows based on user defined criteria
Issues and remediation
- Automated incident and issues and incident capture facility
- Conditional logic to ensure notifications and actions work efficiently
- Highly functional action tracking
- Tracking of incident life cycle
- Linkage of issues and remediation back to material topics, threats to material topics and their mitigants, and any impact on ESG objectives
Metrics
- Indicators at any number of desired levels
- Automated alerting based on indicator thresholds and targets
- Aggregation for reporting purposes and disclosure
- Library of metrics plus any number of user defined metrics
- Linkage of metrics and indicators back to material topics, threats to material topics and their mitigants, and any impact on ESG objectives
Alerts and reporting
- Automated alerting across entire solution
- Dashboard reporting bespoke to each user as well as company wide
- Detailed Business Intelligence tool for advanced reporting
- Predictive modelling for material topics as well as for threats to material topics
- Automated ESG reporting
Supply chain management
- Mapping of suppliers to business lines and ESG requirements
- Linkage to objectives, obligations and material topics
- Assessment functionality aligned to your framework
- Secure Web based reporting of incidents; information required from suppliers with automated diarising
- Creation of automated action plans for each supplier, for example
- o Review
- o Audit
- o Regular periodic information
RiskLogix ESG Key Benefits
- Ensure ESG is part of the firm's DNA with easy-to-use ESG tools
- Link the firm's ESG reporting to its ESG metrics and its ESG exposure threats, its ESG material topics and its ESG objectives
- Compare the firm's ESG appetite (both qualitative and quantitative ESG appetite) and detect Green Washing
- Manage your velocity of corporate ESG exposure – when ESG goes wrong it can go wrong very quickly and speed of action is crucial to take charge of the narrative
- Reduce the complexity of identifying material topics by using our ESG-designed assessment process
- Incorporate multiple ESG frameworks and standards into your ESG solution
- Build a library of ESG metrics with automated Indicators to measure ESG performance, with automated workflows and alerts
- Conduct assessments of the material topics, threats to the material topics and associated mitigants around the meeting of ESG targets, with the ability to create actions directly from the assessments
- Monitor third party supply chain metrics to ensure that the firm’s ESG standards are being met
- Manage incident and ESG related issues with automated action management and integrated workflow
- Define bespoke dashboards and Business Intelligence reporting on all ESG related subjects
- Integrate with third party data providers to enable peer group comparisons and analysis of ESG performance
Supply chain management
Monthly composite report for ESG committee
