ESG with Ease — The Financial Benefits
What else is in it for you?
- Problem: Weighing ESG costs and value.
- Solution: The right technology will create higher value and ROI.
- Benefit: Increase value in multiple facets.
As we wrap up this series, let’s talk dollars. When I present Satelytics’ capabilities to a prospective customer, one of the first questions I get is, “how much does this cost?” Perhaps a better first question is, "How much value can this technology add?" Here are four ways that application of geospatial analytics financially benefits environmental, social, and governance (ESG) programs.
- Risk Reduction. Satelytics finds problems before they become disasters. For example, we provide detection of 3rd party encroachments along buried infrastructure, with alerts sent a few hours after satellite overpass. Damaged infrastructure brings a financial outlay of time, materials, lost product sales, and the very tangible costs of putting employees and the public in dangerous situations — all of which can be avoided or minimized with early detection.
- Minimize Legal Intervention. While accidents do happen, early notification of a spill or survey data for a better remediation plan reduces intervention and fines from governing bodies. In worst-case scenarios, potential civil legal actions can be avoided by early detection and subsequent avoidance.
- Investment Capital. It is no secret that access to capital is increasingly tied to responsible business practices. We arm our customers with the best data surrounding operations, infrastructure, and carbon footprints. Prove your responsible practices with this data in hand!
- Reduced Insurance Premiums. With geospatial data guiding their monitoring programs, our customers receive lower premiums from their insurance providers. By showing their providers they are using the best tools and resulting efficiency gains, cost savings are often passed along.
One only needs to read the news to learn the importance placed on responsible operations by activist investors and activist investor-backed insurance companies. Crafting a successful and profitable ESG program doesn’t have to be difficult. Satelytics’ geospatial analytics can guide your organization and strengthen ESG efforts.