IsoMetrix announced March 16 the launch of an environmental, social and governance (ESG) application, built on the SaaS platform named IsoMetrix Lumina. The ESG product supports corporate sustainability and management professionals in the collection of key data necessary to report ESG metrics efficiently, accurately and in alignment with relevant standards and frameworks, as well as to raise and manage related actions to improve overall ESG performance. 

As ESG becomes an increasingly important topic globally, companies are finding themselves faced with growing amounts of legislation and regulatory oversight with regards to all aspects of their operations. Consistently collecting data, measuring progress, and reporting on their headway across a growing range of ESG and sustainability-related metrics are just some of the key activities required. 

ESG powered by IsoMetrix Lumina is designed to meet governance reporting requirements with regards to executives, investors, customers, rating agencies, regulators, and operational stakeholders. It also aims to reduce environmental impacts and positively affect social factors such as diversity and inclusion.

The ESG application includes the ability for data to be gathered directly from people using data requests, inspections, and surveys. The tool also includes a powerful calculation engine to measure carbon footprint, built-in and maintained ESG reporting standards and a powerful analytical layer that allows organizations to interrogate and visualize data.

IsoMetrix's ESG solution allows businesses to define which data needs to be disclosed upon, then provides the toolset to collect that data and display it for analysis via a range of dashboards, as well as package it for reporting purposes.

It also comprises multiple useful functionalities designed to significantly assist ESG professionals. These include, but are not limited to, the ability to track ESG standards via the Indicators Library, the housing of pre-defined question sets and other content aligned with GRI, SASB, WEF, and TCFD standards, full audit tracking, built-in collaboration features, and the availability of 'intelligent' assistants such as a data validation engine, and a separate calculation engine. 

"Our ESG application represents a sea change in the way corporates and the economy in general are going to work," IsoMetrix COO Dr. Giles Nelson, said in a statement. "This first application on the IsoMetrix Lumina platform will help organizations manage their information better, trace it, make it auditable, and report on it to a higher standard, and we'll only be increasing its capabilities over the next few months."

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