Stibo Systems Announces Commitment to Help Customers Meet Environmental Goals and US, EU Compliance

Published on: 24 August 2022
by KnowESG
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Stibo Systems, the global master data management (MDM) leader, has announced strategic initiatives and an innovation roadmap to help its customers achieve their sustainability goals and prepare for a wide range of global standards and imminent compliance due in the United States and Europe in 2025.

At Stibo Systems, sustainability is an inherent value that is key to the company's mission of better data, better business, and a better world.

According to a recent Gartner® CEO Survey, customer, CEO, and investor priorities are increasing, including sustainable business and ESG.

Gartner said, "In 2022, environmental sustainability became a top 10 business priority for the first time, with 9% of the respondents naming it as one of their top three. This was three times more than a year earlier, representing the biggest jump we’ve seen in the survey’s history. But the story is not just about the environment. Social responsibility/ESG was the second largest contributor to CEO focus on corporate issues, increasing 50% year over year.”

Stibo Systems' sustainability plan includes both internal operations and commercial actions to promote and allow its customers to reach their own sustainability goals. 

The plan will emphasise how customers should elevate sustainability data to the same degree of importance (and governance) as other business-critical master data. 

Organisations will need to collect, document, demonstrate, and evidence sustainability claims using open data while adhering to hundreds of different standards. 

It also focuses on assisting customers in effectively managing complicated sustainability data, lowering the risk of causing harm to their operations, and avoiding penalties connected with regulatory noncompliance or "greenwashing."

Adrian Carr, CEO of Stibo Systems, said: 

"Just as much as it is about helping our customers, marrying MDM and sustainability is a realisation of our company culture and who we want to be as an organisation.

"With the rise of chief sustainability officers and other heads of sustainability, it is clear how important these goals have become to major enterprises. Indeed, sustainability and ESG requirements are increasingly integrated into RFPs for new businesses. Most importantly for us at Stibo Systems, it’s about setting the pace for master data management to be a key player in the sustainability movement.”

Customers of Stibo Systems are already utilising the Stibo Systems Enterprise Platform (STEP) to support their sustainability and ESG objectives. Oatly, a Swedish food firm that makes oat-based dairy replacements, is collaborating with Stibo System to enable rapid expansion and report on its sustainability goals and ambitions for 2029.

Albin Junhede, Sustainability Reporting System Lead at Oatly, said: 

"To manage the work with reducing climate impacts of product and corporate climate footprints, it’s vital to control and understand the whole product, from the content of the product to the suppliers and the logistic partners. Being able to access all the relevant data in one place, as Stibo Systems Solution do, creates efficient reporting and analysis of metrics to be able to reduce the climate impact. Access to correct and complete master data is key to being able to reduce climate impact and find the hot spots to target.”

Source: Stibo Systems

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