ESG Metrics & Reporting with Xsights Location Data ‘Sensing as a Service’ Subscription
An increasing number of supply chain stakeholders, locally and around the world, are demanding that businesses strengthen their Environmental, Social and Governance (ESG) commitments to deliver positive outcomes for their communities and the environment.
With growing scrutiny and market expectations, companies are realizing value and identifying opportunities more quickly and confidently through a more rigorous ESG governance and data measurement and reporting process.
At Xsights, we believe that achieving ESG balance in the Livestock Industry will come by focusing on what can be measured and then making improvements in the key ESG factors that can subsequently be quantified and validated. These factors include emissions, waste reduction, water and feed usage, animal welfare, food safety, biosecurity, and labour practices.
Measuring ESG factors in the Livestock industry can be a challenging process, to alleviate this, Xsights has developed scalable ‘plug and play’ solutions that collect valuable real-time location data on people and assets using Internet of Things (loT) devices, offered as a ‘Sensing-as-a-Service’ subscription.
Providing a “Sensing as a Service” model enables users to scale with no upfront CAPEX cost.
Furthermore, providing real time location data, enables proactive action with the development of Triggers, Alerts and Custom Reports.
Here are some steps that can be taken to measure and deliver balance for ESG in the Livestock industry:
- Develop a comprehensive ESG framework: Companies should have a clear understanding of what ESG factors are important to the livestock industry and how they are impacted. This will help guide the development of an ESG framework that is specific to the organisation, industry and the region of operation.
- Gather data: Through Xsights ‘Sensing-as-a-Service’ subscription and the deployment of Xsights IoT devices, automatically collect and process key data such as, location, movement, utilisation, speed, temperature, humidity, pressure, proximity, time, count and more.
- Engage stakeholders: Engage with stakeholders, including investors, customers, and other industry participants, to understand their ESG expectations and how the company is performing against these expectations referencing Xsights Location Data and using Triggers, Alerts and Custom Reports.
- Assess performance: Assess the company’s performance against its ESG framework, using quantified and validated metrics – not guesstimates and forecasts. This will help identify areas for improvement.
- Report and communicate: Regularly report and communicate the company’s ESG performance to stakeholders, including customers, investors, and employees in a highly accessible manner that enables key insights to be readily identified and utilised to drive impact. This will help build trust and transparency and demonstrate the company’s commitment to sustainability and responsibility.
You Can Only Manage What You Measure!
To find out more about Xsights and get in contact directly – visit Xsights Digital – Location Data – Sensing as a Service