Tom Fox welcomes Ted Dhillon to this episode of the ESG Report. Ted is the co-founder of FigBytes, an ESG insight platform that tracks raw data for environmental, social, and governance management. In this conversation, he and Tom talk about the ways FigBytes helps other companies do data analytics around ESG, the financial impact of ESG, and water stewardship.
FigBytes
FigBytes as a platform tracks data for social, environmental and governance management. That raw data is then converted into impacts and metrics. The analyzed data is then implemented into different technological frameworks. “What we also do is we take the next step yet towards engagement,” Ted tells Tom. FigBytes connects data with organizational strategy and changes the dynamic of how sustainability and ESG is looked at within a company.
ESG as a Business Approach
“[ESG] is clearly a business process approach, and I also look at ESG as a reporting initiative as well,” Ted tells Tom. ESG has moved the organizational sector into a phase of new sustainability that’s more evolved. The metrics and numbers can be compared and contrasted across various different organizations. ESG is also driven by investment from the financial community. Investors will look at the things that are happening in the world, how it impacts companies, and make risk-based assessments on those factors.
Water Stewardship
Water is the next carbon, so Tom asks Ted how FigBytes is facilitating water stewardship. Water stewardship is about the responsible use of water, in a way that is equitable and beneficial to the communities you are drawing it from. Water is a resource with significant impact and a resource that overlaps with climate. You won’t achieve climate sustainability without taking water into account. “Water has got a very regional and localized focus and therefore stewardship is critical because companies have direct and indirect impacts of water as well,” Ted says.
Resources
Ted Dhillon | LinkedIn
