New! Playbook for Effective ESG and Sustainability Data Management

EDM Council is excited to announce the publication of the Playbook for Effective ESG and Sustainability Data Management, the fifth report produced by the ESG Working Group. This guide is intended to help companies understand how to leverage existing tools and known data management capability requirements to accelerate the design and execution of a data governance and management strategy for ESG and sustainability data and reporting.

Download the Playbook for Effective ESG and Sustainability Data Management

EDM Council and Fiùtur Partner to Drive Data Innovation in Sustainability

EDM Council, a cross-industry trade association to advance data management and analytics best practices, is collaborating with Fiùtur, a leading digital trust network for the energy transition economy, to launch a strategic initiative to deliver open, trusted standards to drive information transparency, facilitate capital allocation and reduce risk in the rapidly evolving transition economy.  

The current data landscape for energy transition assets suffers from fragmentation, incompleteness, and incompatibility. To bridge this gap, the EDM Council’s Data Innovation Lab and Fiùtur are joining forces to establish an industry working group to develop a foundational set of sustainability identifiers. This collaboration will leverage open-source technology and ontology-based knowledge graphs to ensure seamless interoperability at the asset level, initially focusing on key use cases such as the hydrogen supply chain but ultimately designed to holistically encompass the energy transition landscape.

The new standards and governance framework will enable participants in the transition economy to standardize outcomes and processes to increase the value of producing assets’ claims, while allowing capital providers to make informed decisions on transition investments. 

“Trillions of dollars of finance are needed to respond to global demand for sustainable products,” says Joe Madden, CEO of Fiùtur. “At the core of efficient transition capital allocations are new risk evaluation and governance rules for producing-asset level data and verifiable transition attributes. Fiùtur is proud to partner with EDM Council to address this challenge and build strong foundations for the required Trust Infrastructure.”

The platform supporting EDM Council’s Data Innovation Lab Program has successfully driven prior open industry knowledge graph standards efforts in industries including finance (FIBO), pharmaceuticals (IDMP), automotive (AUTO) and digital manufacturing (NIST). Fiùtur’s platform and ecosystem enable real-world outcomes to flow through to the financial markets through partnerships with innovative technology providers such as Nammu21. 

“Accurate, complete and connected data is critical to driving energy transition and advancing sustainability,” said John Bottega, President, EDM Council. “The EDM Council is excited to partner with Fiùtur to develop a framework of standard identifiers that will allow stakeholders to have a clear, consistent understanding of the value of assets to invest in and support the transition.”

EDM Council and Fiùtur are calling on their respective communities to actively participate. For further information please contact info@edmcouncil.org at EDM Council and info@fiuturx.com at Fiùtur.

About EDM Council

EDM Council is the global association created to elevate the practice of data management and advanced analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 350 member organizations globally from the Americas, EMEA, and Asia, and more than 25,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, explore edmcouncil.org and follow us on LinkedIn and Twitter.

About Fiùtur

Fiùtur has developed an open architecture to enable the programmatic encoding of governance and commercial terms across transparent, digitally enforced and automated measurement, reporting and verification (dMRV) protocols to deliver provable, real-world outcomes to global markets. The Fiùtur ecosystem incorporates financial institutions and other capital providers, proprietary and public data sources, insurers, technical firms, certification bodies, industry players, project developers, environmental-commodity registries and markets, corporates, and a myriad of others. To find out more about Fiùtur, please visit www.fiuturx.com.

Eyes on Data: The Right Foundation for Trusted Data and Analytics

Trust. Trust is defined as the assured reliance or belief on the character, ability, strength, or truth of someone or something (Webster’s Dictionary). It’s a term we use often to describe how we feel about the people, the institutions, and the things around us. But I would argue that the term “trust” was used differently years ago vs. how it is used and perceived today.

In our new column Eyes on Data with The EDM Council, which will be published during the second month of each quarter, we hope to shine some light on the evolving definition of trust and its impact on our digital world. Learn how the complexity of data today demands a foundation built on advanced and disciplined data management. Navigate the challenges of trusting data in the age of AI and discover the crucial role of a trusted data foundation in managing risk.

Click here to read the full article on TDAN.com

New! ESG Data Management Report: Investment Product Creators

EDM Council is excited to announce the publication of ESG Data Management: Investment Product Creators, the fourth report produced by the ESG Working Group. This downloadable report discusses the data challenges and data management best practices relating to environmental, social, and governance (ESG) data for investment product creators. It includes recommendations on short and longer-term actions this stakeholder group can take to improve the collection and use of ESG data within their investment analysis, practices, and reporting.

Download ESG Data Management: Investment Product

New Data ROI Report: The Data Office Playbook v1.0

The EDM Council convened the Data Office ROI Working Group to develop comprehensive guidelines to help organizations navigate data challenges. The downloadable report discusses these challenges and recommended data management best practices for developing a return on investment (ROI) for the data office. The Data Office ROI Playbook v1.0 is the culmination of intense work by more than 125 cross-industry practitioners and interviews with 15 CDOs around the world over the course of 15 months.

Download Data Office ROI Report: Playbook v1.0

The Data Office ROI Playbook v1.0 consists of:
  • 7 steps, 28 plays and 4 actions that any organization can implement
  • Mappings of data ROI to DCAM (Data Management Capability Assessment Model), CDMC (Cloud Data Management Capabilities), and ESG (Environment, Social and Governance) frameworks from the EDM Council
  • 16 business cases and 19 case studies

Data Influencers Introduced Digitalization of Sustainability Data (DSD) Lab Accelerator Pgm at COP27

New York, NY; November 21, 2022 – The Digitalization of Sustainability Data Lab (DSD Lab), a collaboration of international standard-setters and data management experts focused on sustainability, has launched its Accelerator Program at COP27, the 2022 United Nations Climate Change Conference. The DSD Lab founders include Capitals Coalition, EDM Council and XBRL International. The DSD Lab is aimed at facilitating the exchange of data needed for statutory reporting across industries worldwide. The goal is to make the resulting information more trusted, actionable and discoverable, in support of better sustainability decisions that lead to more positive outcomes for people, the planet and the global economy.

The objectives of the DSD Lab Accelerator Program are to:

–  Spearhead the development of a Smart Shared Dictionary to include all ESG (environmental, social and governance) topics to drive the consistency, comparability and quality of sustainability data inside  enterprises and across supply chains
–  Accelerate the alignment of XBRL (eXtensible Business Reporting Language) sustainability taxonomies through collaboration among relevant standard-setters and regulators
–  Develop and implement a verification and certification program to help ensure that software and services can seamlessly move data between systems
–  Introduce a global registry for identification of all entity reporting (statutory and non-statutory) to vastly improve data discoverability
–  Launch the development of an emerging economy digital sustainability reporting playbook to help accelerate regulatory digital transformation

While the call for climate-related data continues to grow, it lacks uniformity to be useful. “There is both a growing appetite and need for better sustainability data, but one of the biggest challenges we’re facing globally is the fragmented state of corporate data,” said David Wray, co-founder of the DSD Lab. “Many of the costs that firms are facing are due to the disparities in the measurement of sustainability criteria and the lack of a common framework to connect and compare the data across systems. The DSD Lab will address this over the next two years and help firms reduce costs of complying with mandatory disclosures.”

The co-founders of DSD Lab spoke on November 10 at COP27 on a series of panels titled “The path to global digital sustainability disclosure.” These panelists included:

– Liv Watson, Senior Advisor,  Capitals Coalition

– David Wray, President of DFCG International Group

– John Bottega, President of EDM Council

– John Turner, CEO of XBRL International

 

About the Digitalization of Sustainability Data (DSD) Lab

The DSD Lab Accelerator Program is an open collaboration among international consortia, technology standard-setters and other influencers committed to greater access and discovery of decision-useful sustainability information that also significantly lowers data management costs. The DSD Lab designs approaches to digital sustainability disclosures that promote trusted and actionable data that is machine-readable.
For more, visit www.dsdlab.org

About Capitals Coalition

Capitals Coalition is a global collaboration redefining value to transform decision making. It sits at the heart of an extensive global network which has united to advance the capitals approach to decision-making. The ambition of the Coalition is that by 2030 the majority of businesses, financial institutions and governments will include the value of natural capital, social capital and human capital in their decision-making and that this will deliver a fairer, just and more sustainable world. The Coalition has published two international protocols – the Natural Capital Protocol and the Social & Human Capital Protocols – that provide a standardized framework for businesses to identify, measure and value direct and indirect impacts and dependencies on stocks of natural, social and human capital.
For more, visit https://capitalscoalition.org/project/digitalizing-sustainability-data/

About EDM Council

The EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 350 member organizations globally from the Americas, EMEA, and Asia, and more than 25,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, visit https://edmcouncil.org and follow us on LinkedIn and Twitter.

About XBRL International

XBRL International is a global, not-for-profit consortium working through the XBRL Standard to improve business reporting for the public good. We are a member-supported organization, with dedicated volunteers from all over the world offering their time and expertise to develop specifications to support the collection, sharing and use of structured data for data reporting and analysis.
For more, visit https://www.xbrl.org/

Media Contact:
Greg Tarmin
+1 917.868.7791
greg@paragonpr.com

Eyes on Data: The Path Ahead for Cloud Data Management

In today’s information-driven society, there is perhaps nothing more ubiquitous and nothing that is multiplying at a more rapid pace than data. According to Forbes, more than 90% of the data that is available worldwide today was created within the last two years alone. And as the complex data landscape continues to expand, so must the data management capabilities and tools that support it.

In our new column Eyes on Data with The EDM Council, which will be published during the second month of each quarter, we hope to shine some light on the most pressing data management issues that are impacting business across all industries, while offering our views on how companies can approach data-related challenges and opportunities. We’ll touch upon some of the advanced tools that are available, including AI, Machine Learning and advanced analytics, while examining some of the pertinent trends around which data is playing a growing role, such as ESG  (environmental, social and governance) and the usage of hybrid cloud environments.

Click here to read the full article on TDAN.com

EDM Council in CDO Magazine – ESG Is About the Whole Ecosystem

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Eric Bigelsen, Global Head of Industry Engagement and Senior Advisor for ESG, EDM Council, speaks with Robert Lutton, Vice President, Sandhill Consultants, about the role of ESG (Environmental, Social, and Governance) in making sustainability-focused decisions and the talent required for it.

According to Bigelsen, companies today have recognized that ESG is important for their business, their organization, and the industry. “Some companies are really adopting ESG or sustainable culture and it’s not entirely about what the regulators want. There are many other stakeholders that are part of the ecosystem as well — the investors, the asset owners, customers, and employees,” he says.

He mentions that companies that have developed sustainable cultures and want to do things that are good and positive for the environment tend to develop very good governance structures for their business.

Regarding the role of governments in enacting ESG standards, Bigelsen says that while there are organizations like the International Sustainability Standards Board and the new European Sustainable Standard Board, governments also have significant initiatives around ESG to make sure that their respective countries and companies are in line. Most countries across Europe (including the U.K.), as well as Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Singapore, Canada, and the United States, are driving toward more transparency.

Bigelsen also mentions that companies, too, are stepping away from simply greenwashing, and are doing their part to achieve the net-zero requirements by 2050.

Speaking on the talent side of ESG and the need for a sustainability-specific workforce, he says that while there are professionals in the field, there is an inadequate number of them to meet the current demand across organizations.

“There are going to be opportunities for folks on the technical side from a measurement standpoint, but then there are going to be a lot of people involved with data management, data governance. They could be involved with audit and assurance to make sure that when data is collected, that data is high quality and it’s gone through some degree of audit missions,” he adds.

He also adds that while COVID has made things virtual, it has also increased the awareness around sustainability and the environmental impact of our actions.

“This is raising the bar at a very interesting time when, in fact, many are focused on the climate-related issues associated with ESG on the environmental side. There’s definitely a lot more to be said about public health, sharing of information. Information is much more fluid and people can make better decisions. It has really affected us in many profound ways,” he concludes.