IDMC for ESG: The Intelligent Data Management Cloud for Sustainable ESG Practices.
What is IDMC for ESG, and why industry leaders like Microsoft, Ford and Federated Hermes are leveraging it?
Data and Cloud Management pioneer and global leader, Informatica, has announced the Intelligent Data Management Cloud (IDMC) for ESG Sustainability. This solution provides an end-to-end integrated data management cloud that enables the entire data lifecycle. It includes the foundational elements of data discovery, ingestion, integration of data and applications and quality improvement. Single views and business 360 applications, governance, privacy and data sharing and democratization for ESG sustainability data round out its robust features.
IDMC for ESG Sustainability leverages Informatica’s cloud-native solutions as an integrated platform to help companies access and leverage fit-for-use ESG data. “With Informatica, we know what data is coming in across all of our ESG data vendors, and it’s really important to get to the operational and commercial view of that data for ESG,” said Sally Bashuan, Executive Director and Head of Data Governance at Federated Hermes.
IDMC for ESG Sustainability supports top ESG business imperatives, including:
Regulatory Compliance
IDMC for ESG Sustainability helps companies comply with a variety of industry regulations, including the upcoming TCFD reporting requirements, the EU Taxonomy, and the ISSB and TCFD mandates for organizations across G7 and G20 countries. It does this by providing a clean, trusted, and fit-for-use ESG data hub that allows companies to leverage clean, valid, and transparent data in their regulatory report submissions and respond quickly to regulatory requests.
Value Chain Due Diligence and the Circular Economy
IDMC for ESG Sustainability also helps companies with value chain due diligence and the circular economy. It does this by providing capabilities for collecting, governing, mastering, and analyzing Scope 3 carbon emissions data, human rights data, ESG rating agency data, and product lifecycle management data. This information can be used to identify and mitigate risks, make informed decisions about suppliers and products, and reduce environmental impact.
ESG Integration
IDMC for ESG Sustainability also helps companies integrate ESG data into their decision-making processes. This can help them to decarbonize their operations, mitigate climate-related risks, and make better decisions about resource allocation and investment.
ESG Impact Measurement
IDMC for ESG Sustainability also helps companies measure their ESG impact. It does this by providing capabilities for linking company activities and data to the 17 Sustainable Development Goals (SDGs) established by the United Nations. This information can be used to track progress towards ESG goals and report on impact to stakeholders.
Net-Zero Carbon Emissions
IDMC for ESG Sustainability also helps companies achieve net-zero carbon emissions. It does this by providing capabilities for measuring progress against science-based targets and identifying opportunities to reduce greenhouse gas emissions.
How to accelerate ESG Data Governance and Management implementation using IDMC by Informatica?
Companies can follow a step-by-step approach for this. To start, they need to assess their current data governance and management practices to identify gaps and areas for improvement. This includes evaluating data quality, data integration, and data security processes. By understanding their existing data landscape, companies can develop a clear roadmap for implementing ESG data governance and management using IDMC.
Once the assessment is complete, companies can start implementing IDMC by Informatica. This involves setting up a centralized data governance framework that includes policies, processes, and procedures for ESG data management. Informatica’s IDMC solution provides a comprehensive suite of tools and capabilities to support data governance, data quality, and data integration. Companies can leverage these tools to establish data standards, define data ownership, and ensure data accuracy and consistency.
In addition to setting up the data governance framework, companies should also focus on data management. This includes data profiling, data cleansing, and data enrichment activities. Informatica’s IDMC solution offers advanced data profiling and data quality capabilities that can help companies identify and resolve data issues. By ensuring the accuracy and completeness of ESG data, companies can make informed decisions and improve their ESG performance.
Going forward, companies can leverage Informatica’s IDMC solution to automate data integration processes. This includes integrating ESG data from various internal and external sources, such as financial systems, sustainability reporting platforms, and industry databases. By automating data integration, companies can reduce manual effort, improve data timeliness, and enhance data reliability. This enables them to generate accurate ESG reports and insights in a timely manner.
To accelerate ESG Data Governance and Management implementation using IDMC by Informatica, companies can also benefit from real-time monitoring and reporting capabilities. Informatica’s IDMC solution provides dashboards and analytics tools that enable companies to track their ESG performance, identify trends, and measure the impact of their ESG initiatives. By having real-time visibility into ESG data, companies can make proactive decisions, address emerging risks, and drive continuous improvement in their ESG practices.
What’s the first step?
Triade – an Informatica Platinum Partner – is a consulting business specialized in data management solutions, including ESG, with operations in the US, India, Brazil, Mexico, and Puerto Rico. Get in touch with our specialist team now and learn everything about IDMC for ESG. Talk to our specialists and learn everything about Data Management in ESG practices.
