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High Tech Solutions to Drive Business Transformation through Technology
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Sustainability Services
Ecosystem-led Approach to Power Your Sustainability Strategy
Highlights
- Pioneering a sustainable future through technology, the TCS Digital ESG Solution seamlessly tracks and monitors emissions and ESG compliance and implements maturity assessment models for transformative growth.
- The solution offers practical insights on carbon footprint, social responsibility, and environmental sustainability. The integrated compliance framework allows for target setting, continuous monitoring of ESG parameters, leveraging cross-domain data for a consolidated, 360-degree view of ESG progress.
- Enabling green transformation where AI-driven change meets sustainable innovation, TCS’ solution empowers businesses to accurately assess and measure ESG parameters and reduce carbon emissions, while optimizing social, governance, and environmental impact.
The need for sustainability
Sustainability initiatives are more a necessity today than a choice.
The sustainability crisis demands immediate attention from businesses across industries. The journey toward sustainability is fraught with challenges, including navigating complex compliance mandates, optimizing supply chain emissions, and integrating sustainability across diverse operations.
Organizations must also contend with the need for comprehensive ESG reporting and the integration of disparate data sources. Additionally, tracking sustainability metrics at various granular levels remains a significant hurdle.
To overcome these challenges, industries require solutions that ensure compliance, enhance reporting accuracy, and drive sustainable practices. There is a need for technology-driven platforms that facilitate seamless integration, robust data management, and precise tracking of sustainability metrics across departments, cities, lines of business, and countries. Comprehensive frameworks that cover all ESG KPIs and offer actionable insights are essential.
The environmental, social, and governance (ESG) landscape presents varying requirements, including geo- and industry-specific compliance, cultural risks, and data privacy concerns across regions. Several geo-specific regulations, compliances and disclosures currently focus on addressing sustainability. The Sustainable Finance Disclosures Regulation (SFDR), the European Sustainability Reporting Standards (ESRS), Global Reporting Initiative (GRI) standards, the Carbon Disclosure Project (CDP) the Sustainability Accounting Standards Board (SASB), and the Taskforce on Climate Related Financial Disclosures (TCFD), Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive(CSDDD), and so forth, are a few standards that enterprises need to comply with. Enterprises face pressure from diverse stakeholders and investors to meet these expectations. Addressing the technology and skill gap is crucial for enterprises to meet their ESG goals.
TCS Digital ESG Solution
Sustainability is an ongoing journey that demands constant monitoring, benchmarking, and KPI tracking.
Although assessing ESG performance is becoming increasingly complex due to varying evaluation standards and constantly changing definitions, organizations must act now to address environmental, social, and governance challenges threatening our planet and society and secure a sustainable future for generations.
In the pursuit of sustainability, organizations are increasingly working toward integrating comprehensive solutions that address regulatory, operational, and strategic objectives.
TCS Digital ESG Solution offers a robust framework centered around nine pillars (see Figure 1). These are:
- Empowering transparent reporting and compliance
- AI and technology-driven solutions
- Transformative supply chain management
- Green IT sustainability
- Contextualized sector solutions
- Focus on assess, act, and report
- Comprehensive ESG KPI coverage
- Integration capabilities
- Detailed tracking and monitoring
Figure 1:
The value pillars of the TCS Digital ESG Solution
Figure 1:
These pillars collectively empower organizations to achieve their sustainability goals efficiently and effectively.
TCS’ solution enables an integrated approach to ESG management, offering a complete view of ESG parameters in an organization and complying with both investor-facing and public regulatory requirements. It helps mitigate the risk of material, and reputational harm that could arise from ESG-related incidents or controversies. The solution empowers organizations to make environmentally conscious decisions while adhering to industry-specific compliances and aligning with social considerations. To understand and effectively deal with the growing complexity and evolving nature of ESG issues, it offers a streamlined approach, eliminating the need for multiple frameworks and tools.
TCS Digital ESG Solution is dedicated to advancing sustainability by fostering transparency and harnessing AI and technology to deliver impactful environmental outcomes. The solution reshapes supply chains, implements Green IT strategies, and develops contextualized frameworks tailored for diverse industries. It enables an agile approach to adopting an ESG roadmap, making it a vital tool for businesses today.
The 7 Rs of TCS' solution
The solution’s all-inclusive approach facilitates the progression from ESG assessment to implementation.
The overall construct of the solution can be defined by the following seven keywords:
- Requisite: The solution facilitates the assessment and continuous feedback of an organization’s sustainability maturity, assessments of its readiness for compliances such as Corporate Sustainability Reporting Directive (CSRD), corporate sustainability due diligence directive (CSDDD), and the like.
- Reporting: It offers a 360-degree view of an organization’s ESG aspects and provides comprehensive reporting on Scope 3 and its categories, generating deeper insights.
- Regulatory: An integrated solution with a framework for investor and public-facing ESG regulatory bodies, it ensures compliance with CSRD, CSDDD, GRI, and CDP standards, by embracing double materiality (impact and financial). It supports organizations with comprehensive reporting tools, double materiality assessment, stakeholder engagement modules, compliance tracking, data integration, and advanced analytics, enabling seamless ESG reporting and decision-making.
- Recommendation: Predictive and prescriptive analytics on ESG strategies equip organizations with actionable insights to achieve sustainable goals. The solution enables automated reporting of ESG, industry-specific, internal, external, and compliance information.
- Resource: Using TCS’ solution, organizations can focus on responsible minerals sourcing, optimizing the procurement of purchased and capital goods, enhancing IT infrastructure, and streamlining both upstream and downstream transportation.
- Risk: The solution helps businesses to address operational and core risks related to ESG factors that are essential for maintaining long-term sustainability and resilience.
- Reputation: TCS’ solution addresses brand sustainability, stakeholder collaboration, corporate sustainability reports, and places a strong emphasis on ensuring supplier sustainability practices.
Simplifying the journey
TCS Digital ESG Solution can help organizations to not only reach their goals but truly make a difference, creating a sustainable future for all.
Let us take a deeper look at how businesses can accelerate their sustainability agenda with TCS’ solution:
- Empowering transparent reporting and compliance: Navigate global mandates like CSRD, CSDDD, CSRD, USSEC, GRI, amongst others, with an advanced solution that makes sure of accurate ESG reporting and accountability. The solution ensures adherence to various sustainability standards facilitating transparency in ESG disclosures. It provides comprehensive ESG reporting that is industry- and geo-specific, and caters to both internal and external compliance needs. Additionally, it significantly reduces efforts in manual reporting, streamlining the entire process.
- Advancing sustainability with AI- and technology-driven solutions: Harness AI and Generative AI for data assessment and management to gain insights and recommendations, leading to potential cost reductions. The assessment segment offers data-driven analytics for organizations, supporting them in understanding their sustainability maturity and insights. Gain insightful data-driven analytics, enabling organizations to assess their digital maturity levels and gain valuable insights into various aspects of their operations. It provides a data-driven assessment report on the ESG score, maturity, and roadmap for an organization.
- Transformative supply chain solutions and Scope 3: Enhance supplier sustainability and manage Scope 3 emissions with collaborative approaches and a comprehensive audit solution. Unlock a comprehensive understanding of supplier sustainability through dual perspectives that encompass both external and internal viewpoints (see Figure 2). From an external perspective, we analyze suppliers' sustainability practices by examining their sustainability reports, conduct compliance-based audits to measure supplier maturity, and utilize supplier news analytics to gain insights into market dynamics and supplier standings. For an internal perspective, we focus on the organization's side activities, including accounting for the carbon footprint of purchased and capital goods and incorporating emissions related to supplier services. We derive Scope 3 emissions using supplier data and classify suppliers based on their emission contributions. Monitoring suppliers for transparency in their emission reporting and mapping individual suppliers' GHG contributions within Scope 3 emissions further deepens our understanding of supplier sustainability, offering a holistic view of the supply chain's environmental impact.
Figure 2:
A comprehensive view of supplier sustainability through dual perspectives
Figure 2:
- Green IT sustainability: IT products and solutions generate significant emissions due to high computational demands, necessitating green IT practices. TCS Digital ESG Solution addresses this by managing emissions across on-premise, cloud, application, workplace, and data centre operations thus promoting sustainable IT practices.
- Contextualized solutions for diverse sectors: Deliver industry-specific strategies leveraging local insights and global best practices for competitive advantage and regulatory compliance. TCS Digital ESG Solution is designed to support industry-specific needs and standards. In the high tech sector, it effectively manages emissions related to fluorinated carbons, metals, and chemicals, ensuring compliance with Restriction of Hazardous Substances (RoHS), and the regulation on registration, evaluation, authorization, and restriction of chemicals (REACH), and other. For AEC and real estate firms, the solution aids in reducing carbon footprints through energy, waste, and water optimization. It benchmarks various buildings using standards such as EnergyStar, while providing insights on space occupancy and HVAC systems. In software and professional services, it oversees emissions across IT operations. For the transportation sector, it measures emissions across all modes of transportation by leveraging the Global Logistics Emissions Council (GLEC) standards. Additionally, TCS offers generic solutions across all industries, including GHG emission estimation, social initiatives, governance, Scope 3, supplier sustainability, and so on.
- Focus on assess, act, and report: Facilitate continuous assessment, actionable strategies, and transparent reporting of sustainability metrics. TCS Digital ESG Solution streamlines the sustainability journey by providing comprehensive support for continuous assessment, actionable strategies, and transparent reporting of sustainability metrics. It begins with an assessment, offering data-driven analytics that allow organizations to evaluate their sustainability maturity and gain valuable insights into their operations. This includes a detailed ESG score, maturity evaluation, and roadmap development. In the record and report phase, the solution facilitates the recording, tracking, and monitoring of emissions and disclosing social and governance aspects, crucial for compliance with various standards. It manages GHG and environmental accounting, covering emissions, climate analytics, water, waste, and energy management, while also addressing Scope 1, 2, and 3 emissions to enhance supplier sustainability and promote transparency. The act phase empowers organizations with what-if analysis to set targets, develop net-zero strategies, and explore emission reduction potential through retrofitting. This supports informed decision-making and optimizes sustainability efforts, driving long-term positive change.
- Comprehensive ESG KPI coverage: Ensure all ESG key performance indicators (KPIs) are covered, collected, and reported for a holistic view of organizational sustainability. By focusing on social and governance dimensions as well, the solution provides a clear and complete picture of your organization’s sustainability efforts. This approach includes tracking both internal and external KPIs, providing a clear and complete picture of your organization’s sustainability efforts. The solution simplifies the process of understanding and managing these indicators, making it easier for organizations to monitor their progress across various sustainability dimensions. By offering detailed insights into environmental, social, and governance aspects, it enables businesses to identify areas of improvement and make informed decisions that align with their sustainability goals.
- Integration capabilities: Seamlessly integrate diverse platforms, solutions, databases, and hyperscalers for streamlined operations and data management.
- Detailed tracking and monitoring: Provide granular tracking of sustainability metrics across departments, cities, lines of business, countries, and the globe. This approach enhances cross-functional collaboration, driving strategic improvements in environmental and social impact. Organizations can achieve detailed insights and accountability at each tier, fostering transparency and informed decision-making across global operations.
Embrace a sustainable future
The lens of sustainability must be applied to all IT enablement and digital transformation programs.
TCS' innovative sustainability solutions empower organizations to navigate complex regulatory landscapes and achieve their sustainability objectives with precision and efficiency. By focusing on the nine value pillars, we deliver a holistic approach that fosters responsible growth, sets new standards for sustainable operations, and ensures comprehensive coverage of all ESG KPIs.
TCS’ integration capabilities and detailed tracking mechanisms provide unparalleled visibility and control, enabling organizations to make informed decisions and drive continuous improvement across all levels of operation. As industries strive to meet and exceed sustainability goals, TCS stands as a reliable partner, offering transformative solutions that align with both current demands and future aspirations.
