reporting and regulatory compliance , but leveraging that data for better risk management . That then takes the data that you may have a handle on because you have to comply with regulation or you have to do certain reporting , and it turns it into a strategic advantage . And I think that that ’ s the key to a successful sustainability strategy .
Q . WHAT DO YOU SAY TO BUSINESSES THAT ARE EITHER A TOUCH RELUCTANT OR A LITTLE UNSURE ABOUT MAKING THE TRANSITION ?
» There ’ s reasons why you need to start thinking about it from a cost and compliance perspective and from a reputational perspective . But the bigger opportunity is to start to think about how that cost can really be an investment in growth and opportunity and value creation for your business . And I really think a lot of this , and this is kind of a personal belief , success in a sustainability strategy comes down to the data to comply . It requires a lot of data and a lot of access to data mastery , data transparency , but that data , as I said , can just turn into a strategic advantage . So it can play multiple roles within your organisation . It can help check the box as it reports to regulation and reporting , but it can also help as it always has . And in financial services specifically , more data is always viewed as better . That ’ s really where we start to pivot the conversation to help executives understand that the cost is not a sunk cost , it ’ s actually an investment that has a return on it .
sustainabilitymag . com 41