Everyone’s Talking About the SDGs, But This AI Company is Making it Happen
With the Paris Agreement still maintaining a dominant voice in social media and news, and the SDGs placing a strong emphasis on business to lead the way, eRevalue is offering a user-friendly and efficient solution to a complicated problem. The award winning AI technology company is launching a Sustainable Development Goals (SDGs) radar in April this year, to compliment its business intelligence tool Datamaran®. The ‘SDG radar’ was pre-launched with several exclusive eRevalue clients in late 2016. In April 2017, this unique capability will be available for companies everywhere.
On March 7th, 2017, high level speakers from the UN Environment, the Global Compact Network Canada, Scotiabank and eRevalue will be running a webinar exploring the role of business in achieving the SDGs. The expert panel will discuss their perspective on what businesses can do to implement the SDGs – and the role of technology in assisting this process.
Marjella, former Director of the Global Reporting Initiative (GRI), developed the online business intelligence tool, Datamaran®, in collaboration with a global market of end users including corporate users, advisory firms and industry experts. Almost three years ago, Marjella had the unique and innovative idea to make continuous reporting and strategic decision making on emerging issues not only possible, but easily actionable for senior decision makers across departments – not just the CSR team. Utilising AI technology to monitor industry trends, her idea is now a reality, and is helping companies to continuously navigate risks and opportunities. The cloud based business intelligence software is already being used by MNEs in sixteen countries.
“We are building the SDG radar system into Datamaran® as an automated option. The beauty of this tool is that whatever framework you are using – be it GRI, SDG, IIRC, UN Global Compact, etc, our ontology can handle it. We are excited about the potential of our technology to catalyze positive change in the business community”
Marjella Alma, CEO, eRevalue®
Natural Language Processing Technology
Companies are leveraging Natural Language Processing (NLP) topic modelling technology using Datamaran® to identify best practice, benchmarking large volumes of corporate disclosure data on key strategic issues, mapped against a universe of their choosing; competitors, sectors, countries or industries. Having the ability to quickly scan existing practices tied to SDGs through a database of 7,000+ companies is invaluable in kickstarting this process.
There are several key reasons why corporations are increasingly complying with the SDG framework:
Compliance risk: although few regulatory initiatives are directly mentioning the SDGs – there are many existing hard law and soft norms that cover topics that are relevant to the SDGs. By addressing the SDGs and making it more integrated to the sustainability/corporate strategy, compliance risks can be mitigated.
Competitive risk: companies that position themselves in line with the SDGs could receive more attention from Millennials who are placing more importance on business as a force for good.
Reputational risk: Recent political development in Europe and the US has resulted in a greater focus, and arguably an added incentive, for business to take a leadership role. Particularly among the younger generation, there is a lack of confidence in government as the only source of leadership and more companies are required to take action.
Long-term thinking over short-term profits
There is accumulating evidence to show that businesses who take a long-term view outperform those with short-term interests. The SDGs force companies to look ahead, and the board is required to execute this agenda.
Investors are increasingly aware that good companies make good stocks: a recent report released by Bank of America Merill Lynch states that investors could have avoided 90% of bankruptcies if they had invested only in companies with above average ESG performance.
The tool is not just an illustration of the above points, it is a practical solution to the complex business environment. It is a way for companies to navigate the significant challenges presented by the SDGs to create positive change. Members of the C-suite care about the SDGs – and this tool gives CSR professionals the business case to elevate the discussion.
As Richard Branson says: “Every company has the potential to change the world, and will not survive if it doesn’t” (see link: https://www.virgin.com/richard-branson/responsible-business)
Do you want to learn more?
Register for the eRevalue SDG Webinar: Implementing the SDGs: Seizing the Opportunity
Mar 7, 2017 3:00 PM in London
This webinar will explore the role of business in relation to the SDGs.
What are the key obstacles businesses need to overcome to seize the SDG opportunity? Our expert panel will give their perspective on this topical issue and take questions from the audience.
Speakers include:
Elisa Tonda, UN Environment
Helle Bank Jorgensen, UNGC
Samantha Mesrobian, Scotiabank
Erin Levey, eRevalue