How Do You Identify the Best Climate Risk Reporting Software

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Extreme weather threatens the profitability and longevity of the firms that fail to adapt to climate risk. For about one century or more, human actions have been aggressively pushing too much greenhouse gasses (GHG) into the atmosphere, and now, we are at the tipping point. From a business point of view, climate risk reporting is the perfect tool for helping build a better future and you cannot be left out. 

To get it right on climate reporting, it is paramount to have the right software for data gathering, analysis, and report generation. There are dozens of apps available out there, but how do you identify the right one for your company? Here are some useful tips to consider. 

What is Climate Risk Reporting?

Climate reporting is a conscious process of disclosure of a company’s efforts in reducing its footprint as a method of helping address the problem of global warming. But this is only one part of the process. As a conscious undertaking, it requires comprehensive analysis to identify challenges facing a company and planning ahead. Therefore, you are able to prepare for the risks and challenges ahead to ensure that the company will stay profitable in the long term. 

To demonstrate this, let’s look at the reporting framework recommended by the Hong Kong Stock Exchange (HKEX). For all companies listed at HKEX, one of the annual requirements is reporting on their future ESG risks. These reports must also contain clear strategies for overcoming them. The impact of this is greater confidence from investors in the companies involved. 

Even if your company is not listed at HKEX, you need to adopt sustainability as part of the core strategies. This might be all that you need to set your company on a path to success. 

How to Identify the Best Climate Risk Reporting Software 

A good app for climate risk reporting should be easy to use for your team or company staff. So, start by reviewing the design to learn how the app works. You might also want to check expert reviews and what others had to say after using the app. Here are other things to check when selecting the best app for climate risk reporting: 

• Ability to Automate Some Parts of Data Gathering

A good app should help to simplify the process of data gathering by integrating with the management system to pick crucial data for environmental risk reporting. It should also be easy to integrate with smart devices and sensors, such as programmable logic controllers, to collect information when specific levels or rates are reached. 

• Capable of Offering Comprehensive  Analytics 

As we have already pointed out, climate risk reporting is all about data and analysis. Therefore, you should look for an app that allows you to run comprehensive analyses to determine the trend and make the right decisions. For example, you should go for the app that comes with a good carbon footprint calculator to be able to quickly determine whether the efforts towards carbon neutral status are on course. 

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• Secure and Scalable 

When you install an app into the company's system, it implies that it will be able to access sensitive information, such as product production and financial information. Therefore, you should look for the program designed by a top-rated company, comes with access-restriction features and regular updates for enhanced data security. The provider should also have multiple backups to ensure that your ESG-related information will always be available when necessary. 

One of the firms that offer high-quality apps that tick right in all the above attributes is Diginex.com. Their apps, such as diginexClimate, can help you to manage your company's emissions, calculate reduction efforts, and prepare top-notch reports. They also have other high-performance apps, such as the DiginexLumen, and the blockchain enabled & ISO certified diginexESG. 

Visit Diginex.com today to talk to one of their experts in climate risk reporting and sustainability for your company. Do not be left behind as others enjoy the benefits of ESG sustainability reporting.