As mentioned in the previous blog in this series, Navigating the Labyrinth: The Complexity of ESG Data Collection, despite the challenge of having to collect all the data for Environmental, Social, and Governance (ESG), getting a handle on your ESG data can help identify areas of business opportunity and growth. Therefore it is no surprise that the CFO is moving to take the lead in ESG initiatives, not only sharing their organization's ESG achievements but also developing ESG strategies around stakeholder interests. To accomplish this, CFOs must look at aligning ESG initiatives with business strategy. To do this, ESG reporting should be integrated into the financial reporting process with visibility across financial and ESG performance.
With thousands of customers relying on Oracle Cloud Enterprise Performance Management (EPM) as the guiding compass to steer their businesses through ever changing economic and geo-political uncertainty, it is no surprise that EPM is also the perfect choice to help them navigate the challenges of focusing on planning for, monitoring and reporting on their ESG initiatives. As companies increasingly recognize the importance of integrating ESG objectives into their core strategies, Oracle Cloud EPM stands out as a tool uniquely suited to this task.
Over the years, EPM has evolved to become the de-facto standard for financial reporting processes, finding its mark as the critical single source of truth for both regulatory/statutory and management reporting. The ability to ingest data from any source, and then model that data provides the bedrock foundation needed to provide verifiable and reconcilable information.
It is natural then to turn this technology to address the Sustainability and ESG Reporting and Planning requirements.
With companies fighting to gain mindshare and consumer confidence around their sustainability goals, they sit with the challenge of making sure the sustainability initiatives make business sense. Finance has used Oracle Cloud EPM to collect, transform, aggregate and report on data for years. Therefore, Oracle Cloud EPM is ideally placed to help collect ESG data through a controlled and auditable process. It helps align ESG plans with finance and operational plans, and communicate ESG performance to all stakeholders, including reporting to regulators across multiple frameworks. As mentioned, Oracle Cloud EPM has been proven as a leader in doing such for financial regulatory reporting for many years and is a proven platform for such regulatory needs.
Oracle Cloud EPM for Sustainability is a purpose-built solution for customers to rapidly gain control and compliance over their ESG reporting responsibilities. Oracle Cloud EPM for Sustainability is a comprehensive platform that aligns ESG goals with financial and operational plans. Here’s how it excels in this role:
Oracle Cloud EPM stands at the forefront of aligning sustainability with corporate strategy. It transforms ESG reporting from a mere regulatory requirement into a strategic asset, enabling companies to weave their sustainability goals seamlessly with their financial and operational objectives. In the journey towards sustainable business practices, Oracle Cloud EPM is more than a tool; it’s a catalyst for change.
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