“Bringing that all together with external data through our extended analytics capabilities provides a robust central repository for tracking and reporting on ESG performance,” he said. With access to the same trove of data, HR, sustainability, and operations teams can work together and in parallel toward these goals.
Take, for example, a company’s greenhouse gas emissions. Those aren’t limited to what comes out of a factory smokestack; they also include metrics such as emissions that result from employees commuting to work. Workday’s survey functionality makes it easy to solicit commuter data from employees, such as how often they come into the office, how they get there, and how far away they live. From there, sustainability managers can calculate emissions arising from commutes and look for ways to minimize it—for example, arranging ride-sharing options in commuter hot spots.
Spend data in Workday can also be used to estimate scope 3 emissions, or those linked to the supply chain. Accessing this financial information directly, instead of asking finance to periodically compile it and send it to sustainability teams offline, can make it much easier to perform these calculations.
But having the data is only the beginning.
Workday’s data visualization tools allow leaders to see and explore a wealth of data across all three ESG categories. Using third-party ratings, sustainability efforts, and procurement data, decision-makers can view supplier rankings on environmental stewardship, then switch to rankings for women- or minority-ownership status, providing insight into their social contributions. On the governance front, HR representatives can conduct data-privacy and anti-corruption training, or visualize where in the recruiting process they’re having the most—or least—success attracting diverse talent.
Accelerating a Clean Climate Transition
To demonstrate how the data can be used, Stancich and Wood outlined how Deloitte is employing Workday Adaptive Planning to execute emissions reduction modeling. The company’s efforts reflect not only a corporate commitment to sustainability, but also an understanding that ESG is a bottom-line issue.