Why sustainability should be at the core of finance technology transformation

Sustainability should be embraced as a fundamental mindset within an organisation. Finance leaders play a critical role in going beyond compliance and expanding the sustainability agenda, thereby creating new opportunities for their organisations to generate value and achieve positive outcomes for both the environment and business.

Today, an expanding array of powerful technologies are available to help finance executives achieve a comprehensive approach that provides an organisation with a holistic view of its performance across both financial aspects and environmental, social, and governance (ESG) – i.e. sustainability – factors. Using tools like advanced analytics, artificial intelligence and data visualisation, finance professionals can collect, analyse, and present data on sustainability performance in a more accessible and meaningful way – while also improving decision making and fostering sustainable growth

PwC’s 27th Annual Global CEO Survey also underlines that now is the time to invest in sustainability solutions, with 41% of CEOs saying they accept lower hurdle rates for climate-friendly investments compared to other spending.

As companies approach the decision on which technology solutions will enable their integrated reporting, their choice will be influenced by their own level of maturity and ambition in the sustainability technology area. We’ve identified four distinct corporate personas or ‘profiles’ when it comes to this maturity, each with its own distinctive perspective on the importance of sustainability and approach to the related technology

• Minimalist: views sustainability reporting as a compliance issue, or has only just begun its sustainability journey. Has no or limited public reporting. 

• Pragmatist: Focuses on sustainability risks rather than opportunities. Has some public reporting but no science-based targets. 

• Strategist: Sees both risks and opportunities in sustainability, with a long-term perspective. Has more mature disclosure and reporting underpinned by science-based targets. 

• Trailblazer: Sustainability is core to purpose, strategy and products and services, and interplays with business and IT priorities. Has integrated financial and non-financial reporting aligned to sustainability metrics

So the question is, where do you currently stand and where do you want to be within the next 3 years?

When it comes to undertaking sustainability transformation, digital solutions are no longer a tactical play – but rather a strategic enabler. And the time to start is today.