ESG
“ The cost of getting this wrong is quite high really ,” warns Levent . “ The examples speak for themselves – the DWS group , part of Deutsche Bank , got fined US $ 19m by the SEC for ESG misstatements . I ’ m sure that US $ 19m will sit outside of their risk appetite statement .”
What are the sustainability challenges when it comes to data ? As with any developing strategy , it is important to look at the challenges presented with data management – especially through the lens of sustainability .
Crucially , the journey of data management sits on foundations of trustworthy , well-rounded data . Only once this is in place can it be used and understood .
“ One of the biggest challenges for sustainability is that a lot of this data is simply not available today , so companies are using proxy data ,” explains Levent .
“ Organisations need to be able to manage their metadata – data about data – really well so that they don ’ t let perfection be the enemy of good , because we really need to get going .
“ By using a robust data foundation and a good foundational data platform , you can always see what proxy data was used at whichever point in time to feed those decisions or to feed those calculations .”
The reality of this is that companies are using spend-based carbon calculations to estimate emissions , rather than relying on accurately recorded data .
“ At Informatica , we are now leveraging the latest innovations in technologies
74 July 2024