Rod Newing's article in the latest Financial Times sustainability supplement, Analytics: Numbers game is hard to play, points to the main challenge in dealing with environmental analytics: how to produce improved environmental performance from a seemingly unmanageable mass of data.
As Jyoti Banerjee, partner at Fronesys, commented in the article: "Most companies have not yet gone through the process of determining which environmental metrics are material to them. Without that, you could end up tracking metrics which are fashionable in the marketplace, but not relevant to your business."
Of course, materiality is an ongoing theme for us at the moment, what with our recent publication of the Materiality Futures report. But that's because it makes sense to work through materiality, for it turns out to be the critical join between sustainability and business strategy.
Sadly, as Materiality Futures demonstrates, so few companies actually seem to have good transparent processes for determining materiality of non-economic impacts. It's time to smarten up here, as materiality is only going to become more material...