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Jun 14 2023

How to create a sustainability dashboard for a Chemical Company?

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How to create a sustainability dashboard for a Chemical Company?

Introduction

Chemical companies market is a 5079.29 billion USD opportunity as of FY 2023. Companies like these typically have a presence globally and deal with tremendous scrutiny. Due to this, they have to navigate a plethora of sustainability compliances and reporting frameworks. Current regulations in sustainability and carbon accounting like CDP, GRI and TCFD require companies to report their carbon footprint across their value chains and their geographical presence.

EHS, Sustainability and Leadership teams face a lot of challenges when it comes to data collection, analysis and collaboration for sustainability reporting, MIS and maintaining audit trails. Data silos, Lack of standardization, Lack of resources, and Lack of buy-in from leadership are a couple of the challenges that are widely prevalent.

Sustainability Dashboarding becomes a necessary tool for EHS, Sustainability and Leadership teams as a single source of information which can act as a one-stop solution for all Sustainability initiatives.

Keywords Dashboard, Carbon Accounting, Sustainability Reporting, Corporate Carbon Emissions, Low-carbon Chemicals, Chemical Manufacturing

Executive Summary

Problem How to enable sustainability teams within the company to take data-driven decisions and get stakeholders buy-ins

Solution All-encompassing sustainability dashboard that helps with informed decision making – A company’s single source of truth

Impact

  • 60-70% time cost saving in sustainability data operations
  • Peace of mind for sustainability leadership and CXOs
  • Near-real time view on company’s sustainability accounts
  • Enabling EHS teams to get easier buy-ins of stakeholders for sustainability initiatives

Steps to create Dashboard

1 | Data Collection

how to-1.png

Stakeholder Consultation

  • Align all stakeholders for the project. For Chemical manufacturers, it's usually constituent chemical raw material suppliers = speciality chemicals salts, polymers ), manufacturing plant unit heads, EHS heads, Business owner, logistic partners, and ecosystem partners.
  • Prepare a plan of action for taking the project forward. We usually see greater value when you start with a kickoff meeting, involving all key stakeholders mentioned above
  • Prepare Data Collection roadmap

Share/Collaborate

  • Now, that we have data collection roadmap, assign stakeholders who will collect relevant data Typically, EHS team can collect data from other vertices While collaborating, digital platforms like Newtral can come handy as it will be the single source of truth for the company

Data Integration

  • For manufacturing companies, the biggest challenge lies in digitizing the data as the majority of data points are still in flux.
  • What works well is MIS documentation. It sets a starting point for collecting data.
  • Manufacturing companies -> Different systems for different use cases like energy management, ERP, Logistics solutions, Finance books
  • Newtral’s integration feature can be a game changer here as it allows for seamless data integration, saving 70% time in data collection efforts.

2 | Data Analysis and Review

how to-2.png Cluster Data In this step, we need to review all the data that has been collected. For different companies, structure might vary. Some of the standard ways of structuring include:

  • Structure by Units/Facilities
  • Structure by Location
  • Structure by Supply Chain Stages

Review In this stage, it is important to review the data that has been collected via ground team and integrations.

Some of the tips that might come in handy:

  • End-to-End integration of on-the-ground data
  • Enabling evidence moderation and audit at scale saves a ton of time for third-party auditors to effortlessly audit documents and evidence.

Impact analysis Data collection is one part of the picture. What next? Simplified Impact Analysis for improving efficiencies and highlighting hotspots.

Here, Newtral can help with in-built emission factor database of 70k+ Emission factors (40k accessed via premium partnerships).

3 | Data Visualisation and Dashboard Creation

how to-3.png Dashboarding can help with majorly three things.

  • Insight: Gain a deeper understanding of the ground reality and associated problem realisation by Board members
  • Report: One-Click access to organised information for sharing with stakeholders and investors
  • Custom Dashboard: Why be restricted to just one view when you can get tailored views specific to your needs. Track sustainability performance, identify emission trends, and make faster decisions for corrective measures.

Resources

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