Benefits
"CSRware provided us with a cost-effective, On-Demand Sustainable Supply Chain software solution with exceptional customer service to simplify the deployment of our Environmental Performance Survey to assess our global suppliers."
- Curtis Ravenel, Global Head, Sustainability Group at Bloomberg
"We evaluated a number of solutions and CSRware proved to have the best functionality and deepest understanding of corporate sustainability."
- Brad Minnis, Director of Environmental, Health, Safety and Security at Juniper Networks
"Avaya chose to work with CSRware on this important initiative because of the depth of their software platform that focuses on supply chain performance."
- Wilson Korol, Sustainability Business Leader at Avaya
"We chose CSRware� for the functionality of its platform and for the company's deep understanding of corporate sustainability."
- Katherine Michonski, Program Manager at the Business Council on Climate Change
Michael Bloomberg founded Bloomberg on one core belief: bringing transparency to capital markets through access to information could increase capital flows, produce economic growth and jobs and significantly reduce the cost of doing business.
This is exactly what CSRware does. We provide sustainability solutions that enable businesses to identify problems and opportunities and make better social, environmental, and operational decisions to build public confidence.
But who is compiling sustainability data for public use?
Curiosity is what led sustainability director, Curtis Ravenel, to head the development and expansion of ESG (Environmental, Social and Governance) at Bloomberg. Before Ravenel, American companies and high-level executives disregarded this area of financial analysis altogether. Not only were they viewed as "extra-financial" data, "socially responsible investing was too small [a customer base]" and so "it just never made it up to C-level". Attitudes are changing and ESG has become an important means for making investment decisions.
According to Fast Company,
Do billions of dollars added to operating costs per year matter?
The biggest indicator in the ESG matrix right now is environmental impact. "The financial community likes the E because it's easy to quantify," Ravenel says. "And within E is the big C: carbon." And within that C is another C: cost. Some European countries, such as Sweden and Denmark, tax the carbon emissions of companies with offices there. The EPA's rules to regulate CO2, which went into effect January 2nd, will affect many American balance sheets. If companies wake up one day to find it costs $15 to emit a ton of CO2, a financial analyst considering ExxonMobil would see it emitted 128 million metric tons in 2009. That adds nearly $2 billion to the oil giant's operating costs -- hardly extra-financial data.
Why would companies care if changing EPA regulations increase CO2 emission tax costs?
Public eyes are now focused on the direction companies will take with their ESG initiatives. Bloomberg, a forward-thinking leader in sustainability, chose CSRware not only to help them prepare for these changes, but to also protect their investors from being side-blinded by new industry standards. With CSRware, Bloomberg�s ESG implementation and execution processes were made easier.
According to Bloomberg, "We've saved over $25 million in the last three years by reducing our environmental impact. And we've developed new sustainability products and services for our customers. These are tangible benefits to the Company."