Remy Bos: The missing piece between finance and sustainability

October 19, 2022 | 3 minute read
Harry Howe
Sustainability Analyst
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Oracle’s new Global Sustainability Director, Remy Bos, joins the team from a route-less-travelled in the sustainability industry - from a financial background. However, he believes his move will become more common as Environmental, Social, and Governance (ESG) reporting grows in size and stature.

Bos has spent his entire working life in accounting and finance, as well as achieving a Master’s and Executive Masters’ in Finance and Control from Nyenrode Business University. He joined Oracle as a Strategy Leader for ERP and EPM in 2019, developing go-to-market strategies for the EMEA region. During that time, he noticed that ESG Reporting became an increasingly requested topic to discuss with customers. He could see the “tidal wave” approaching, realizing this would become an ever-important topic for business and especially also within the finance department. 

He believes those with financial backgrounds are perfectly suited to combat this ESG “tidal wave” and respond accordingly to the surge in demand and impending regulations. The European Union (EU) is set to adopt the Corporate Sustainability Reporting Directive (CSRD) this month, mandating companies to include additional depth in reporting, with further non-compliance consequences. Through his experience in finance, Bos brings an in-depth knowledge of legislation and a deep understanding of accounting standards.

“Finance has always managed non-financial data on top of finances, and I am a firm believer that, while the term has been succeeded by Sustainability or ESG reporting, finance professionals are best equipped to tackle the new legislative challenges.” Bos states.

Good practice and strategic thinking in ESG are now more important than ever before, especially when it comes to the ‘E’ (Environmental) in ESG. Many companies are struggling to figure out what exactly to report on, and how to gather the data they require.

“The yet-to-be European Sustainability Reporting Standards have about 137 Disclosure Requirements, which will force organizations to track hundreds of new metrics to come up to the information they need to disclose. This will not be easy”.

As Oracle, we have an incredibly broad set of solutions that could help our customers with this challenge. Our Human Capital Management (HCM) applications are an incredibly potent solutions to solving the S (Social) data requirements, while our Supply Chain Management (SCM) application offers comprehensive solutions to the many challenges of the environmental data requirements.

But even beyond our Fusion Cloud Applications, we have technologies such as IoT and BlockChain that can help record some of the hardest to track data and combined with the likes of Fusion Analytics and Oracle Cloud EPM, Oracle has incredible monitoring, planning, and reporting solutions.

While the Global Sustainability Team focuses on the decarbonization of Oracle’s operations and datacentres, and the use of circular resource-efficient and socially responsible supply chains, Bos will  join the team in engaging with customers, as he will have a unique position to translate lessons learned at Oracle to enable our customers.

"When it comes to Sustainability, we have a responsibility of our own, but the most powerful thing we can do is to enable our customers to become more sustainable.”   

Bos believes that organizations with a clear and integrated sustainability strategy can utilise their ESG in a number of positive ways, including:

Strategic: Competitive advantages & resilient top line growth

Resource optimization: Cost reductions and increased productivity

Risk Management: Better investment decisions and financing conditions

Compliance: Less regulatory and legal interventions, better stakeholder management

“I am confident that sustainability matters are inextricably linked to a company’s finances and companies who choose to ignore it will be left in the past."  

Bos is the newest addition to the reformed global sustainability team now headed up by Elena Avesani. Expect big things from the team and this space.

For more information on Oracle sustainability, visit oracle.com/sustainability.

 

Harry Howe

Sustainability Analyst


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