Data framework
Digital scaffolding around an organisation.
WhiteBox employs data frameworks and digital scaffolding to enhance management’s capabilities to monitor, identify and mitigate environmental, social and governance risks, improving the company’s profile on all three. The first layer, and the one the programme began with, is the people directly affected: engaging them, gathering what they know and hearing back from them is how impact and risk are first seen. The other sources came later and sit on top of that layer.
The sources a whitebox is built from.
Drawn as the programme drew it: the organisation’s landscape in the middle, data flowing in from the left, reports going out on the right.
WhiteBox employs data frameworks and digital scaffolding to enhance management’s capabilities to monitor, identify and mitigate environmental, social and governance risks, improving the company’s profile on all three.
Ratings firms monitor and review news events, non-governmental organisation (NGO) and government databases, company disclosures and other sources to assign environmental, social and governance ratings to companies, selling their reporting data to institutional investors.
Satellite data has become more accessible and can be leveraged for many environmental, social and governance monitoring tasks.
The worldwide web and social media can be leveraged for social insight and sentiment analysis.
Daily news is a data source actively monitored by ratings agencies to help determine companies’ environmental, social and governance scores. Companies that can identify risks to mitigate before they materialise and become news events are inherently more resilient.
First layerDirect two-way dialogue with community members and other stakeholders is key to identifying environmental, social and governance risks and impacts.
The land itself: in Druid, every field is read from public satellites every ten days.
Regulators, think tanks, academia and NGOs are an important source of environmental, social and governance data and a valuable resource for tools to assess risks and impacts.
Integrating dispersed departments, offices and siloed data is key to a holistic view of an organisation’s environmental, social and governance risks and impacts, for reporting as well as to discover systematic issues to remedy.
A clear view of environmental, social and governance risks along supply chains and value chains is critical to bolstering institutional resilience and sustainability.
Ground sensors and internet-of-things (IoT) devices can create additional data for deep environmental, social and governance monitoring and reporting.
Companies that demonstrate successful management of environmental, social and governance risks, both internally and along value chains, enjoy numerous top-line and bottom-line advantages.
Increasingly, retail and institutional investors are incorporating companies’ environmental, social and governance profiles in their investment decision-making.