The Age of Transparency – ESG Reporting on Waste
The age of transparency is here, and with it comes the dawn of waste accountability for media companies. From key investors requiring factual ESG reporting and the SEC crackdown on verifiable ESG metrics to the development of blockchain-style supply chain recording – we are headed for complete transparency as a sign of business resiliency.
Media company investors want transparent ESG reporting
A growing number of investors and stakeholders are integrating media company ESG reporting into investment decisions; click here to learn more about how sustainable waste management helps you achieve ESG objectives.
Media companies are ripe for commencing efforts to collect data and report on their waste diversion efforts. The driver for stakeholder demands of transparent ESG reporting is managing risks — 65% of investors’ motive for taking ESG issues into consideration was to help manage investment risks per PwC research.
Greater disclosure, greater investment
In a study conducted on transparency vs. dollars invested, companies that disclosed full metrics received over double the investment than companies that withheld information or were not required to report. Transparency is now a growth factor, and whether a media company can fully and accurately disclose all environmental, social, and governance metrics will impact relevancy, investment dollars, and public opinion.
A current hurdle expressed by professionals in the media industry is a lack of waste tracking and data management. Honing waste data will be the first big step for media companies to leverage waste as a business strength in the following ways:
- improve supply chain decisions
- monetize waste
- divert more waste from the waste stream
- improve waste reporting
- attract more investors
- earn more investment dollars
As ESG reporting and waste accountability become more mainstream for media companies, the first and biggest hurdle will be to address waste data; metrics that are collected, improvements that are made, and metrics reported. Even leading media companies that are starting to hone sustainable efforts on waste have spotty metrics across facilities.
SEC taskforce to monitor for accurate ESG reporting
In response to emerging climate and ESG disclosure gaps, the Securities and Exchange Commission (SEC) has developed a 22-person task force to monitor non-financial data disclosures. Transparency as a business asset is on the rise. Accurate and verifiable reporting is of growing importance. Business risks and opportunities must be easy to assess and reliable. A company’s carbon footprint will increasingly require precise assessment of waste. Inaccuracy in reporting these metrics will be considered gross misconduct as they mislead investors. The proactive approach for media companies is to begin tracking and reporting data on initial waste metrics.
Metrics used in current ESG reporting, per the World Economic Forum, include:
- Single-use plastic disposal
- Impact of solid waste disposal
- Resource circulatory by %circular inflow/outflow
Sources for quantifying these metrics for the purpose of transparent reporting are NCP, ISO 14008, WBCSB, KPMG Circular Transition Indicators.
Blockchain transparency for waste reporting
Blockchain has emerged as a powerful tool for transparent supply chains and waste streams. Blockchains allow data to be stored on a series of connected blocks that are immutable and exist forever. Data ledgers enable transaction tracking and smart contracts. Auditing is easily accomplished, and detection of waste offenses can quickly generate penalties.
Trustworthiness is a core benefit of waste transacting on the blockchain. It can help companies more accurately report supply chain movement while incentivizing participants to act honestly.
Achieving ESG reporting goals with the proper sustainable waste management support
Just as transparency is a marker for business resilience, it’s also a key indicator for successful waste reduction and reporting. Working with the right sustainable waste management company will be the lift-off needed by media companies struggling with waste tracking. As ESG reporting becomes standardized and eventually mandatory for investors and governments, honing some key metrics ahead of the curve will make reporting manageable and, more importantly, advantageous for business growth.
Most haulers own landfills and hauling equipment. Sourcing a sustainable waste management partner who operates independently of these interests not only helps you retain those savings but ensures your waste diversion goals are met with transparent measures.
National Waste Associates is your partner for waste reduction and ESG reporting across multiple facilities
With diverse waste needs across multiple facilities and facility types, media companies need to have a tailored strategy for all sites with the ease of billing and accountability of one management channel.
Our skilled team develops tailored waste development plans to reduce, recycle, and reuse materials. For media companies with production facilities, it can be challenging to narrow down the best strategy as the types of waste materials are constantly changing. National Waste Associates (NWA) will continue to analyze each location’s waste stream to determine potential recycling opportunities.
As a member of the Zero Waste Business Council, NWA is highly skilled at identifying profitable after-market opportunities for various items, so you can develop a monetization that incentivizes waste diversion.
NWA helps media companies deliver transparency and accurate waste data reporting to stay compliant and
give investors insight into waste reduction efforts.
To learn more, talk to us today at 1-888-692-5005 x6 or
email us at email@example.com
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