With an intensifying global focus on environmental, social, and governance (ESG) standards and regulations, businesses urgently need to adapt and innovate. Navigating this complex terrain requires a partner with deep expertise and a comprehensive understanding of global data. Enter Dun & Bradstreet, a stalwart in business decisioning data and analytics, offering tailored solutions to guide companies through the intricacies of ESG compliance and business sustainability.
Although ESG principles have been gaining traction over the past several years, their momentum hasn’t fully developed yet. Many regulations are either in place or poised to be enforced within the next few years, affecting supply chains worldwide in an increasingly complex environment.
“The future of ESG is now,” says Julian Prower, Chief Operating Officer, Dun & Bradstreet International. “Definitive ESG-related legislation is set to take effect in 2025, and for global companies, compliance and reporting will involve partners throughout long and complex supply chains. Our role is to help companies understand their supply chains and importantly where their sustainability practices will need to improve.”
Prower emphasizes the importance of proactive engagement in establishing a robust foundation in ESG compliance. He highlights the critical nature of transparency, urging companies to consider not only their direct actions but also the practices of their partners and suppliers.
With the world’s most extensive commercial B2B Data Cloud, Dun & Bradstreet is uniquely positioned to assist companies in comprehending the ever-changing global regulatory landscape and the nuances of cross-border business. The company’s services extend beyond mere data provision, delving into the strategic analysis necessary for businesses to thrive and grow amid fast-evolving sustainability requirements.
“Companies can especially benefit from help with the various levels of sustainability reporting,” says Prower. “Dun & Bradstreet has developed an expertise in helping businesses understand their supply chains and obtain the necessary ESG credentials. We’ve seen a growth in global companies not only asking us for assistance with internal ESG compliance but also with evaluating their suppliers to ensure they are compliant across all markets, which could position them favorably and for the most beneficial carbon tax rates in the future.”
Recognizing the onus on companies maintaining compliance with complex and shifting regulations, Dun & Bradstreet has developed a suite of services designed to streamline this process. From assessing supply chain risks to navigating standards like the European Corporate Sustainability Reporting Directive (CSRD) – Dun & Bradstreet empowers businesses with the data and insights needed to make informed decisions to meet stakeholder expectations.
Dun & Bradstreet’s Compliance Intelligence service is particularly poignant, offering ESG insights into more than 80 million businesses worldwide. This service not only aids in helping companies realize regulatory compliance but also positions companies as responsible participants in the global market, a trait increasingly valued by global consumers and investors. The service includes assessments and verifications that clearly indicate a company’s commitment to ESG principles, enhancing its reputation and trustworthiness.
In addition to ESG-specific services, Dun & Bradstreet addresses broader risk management concerns through its D&B Risk Analytics platform. This platform integrates supplier and compliance intelligence, offering a comprehensive view of potential risks and opportunities. With this platform, businesses can ensure they are meeting current regulatory demands, monitoring for future changes, and positioning themselves as leaders in sustainable practices.
“Looking at our supply chain risk charts really visualizes just how complex the world we live in has become,” says Prower. “For some time, we’ve had strong capability around know-your-customer practices and other aspects of compliance. Last year, we introduced our next generation platform to support the expanding needs of companies around the world. We’ve seen a significant number of companies looking to take on this capability to meet expectations around ESG, data regulations, cyber risk and much more.”
With the global nature of business, companies cannot afford to ignore the regulatory and cultural shifts toward ESG-focused business practices. They must integrate and embed ESG principles into their future strategies. Those who initiate this process early will receive a head start in the future of doing business.
The decisions we’re making and the actions we’re taking will inevitably need to accelerate toward social and environmental good,” says Prower. “Navigating the complexity of a global business environment is immensely challenging, and that’s where we’re ready to step in and help. Practicality is essential, but so is the urgency to accelerate efforts in ESG, and there’s no alternative but to move forward decisively.”
