NAVEX announced the inclusion of NAVEX ESG on the NAVEX One Platform. Increasingly, organizations see the value—even necessity—of incorporating ESG into their overall governance, risk, and compliance (GRC) efforts.
In a recent NAVEX survey of risk and compliance professionals in the U.S., EU and UK, 89% of respondents said they include ESG reporting as part of their organization’s overall compliance program, suggesting an accelerating convergence of ESG and compliance programs. With the integration of NAVEX ESG into the NAVEX One platform, organizations now have holistic GRC management and reporting programs that include environmental and social factors.
“Clearly, risk, compliance and ESG are coming together,” said Amy Cravens, Research Manager, Governance, Risk, and Compliance at IDC. “Due to internal, investor, and societal pressure, risk and compliance leaders are already heavily involved with the management of ESG. This trend will only continue as regulatory bodies codify climate risk related rules. Leading organizations will use ESG metrics to mature their risk management programs to leverage ESG as a competitive differentiator.”
NAVEX One is a GRC software platform that provides a single, comprehensive view of program performance and key metrics across the organization. With NAVEX ESG integrated into the NAVEX One platform, risk and compliance officers can more effectively manage the expanding range of regulatory and other risks organizations face today.
NAVEX One Platform functionality includes:
- A comprehensive view of risk in one platform. NAVEX One provides an intuitive, easy to use GRC platform that allows for a holistic view of risk, compliance program activity and performance. This includes key ESG-related metrics such as carbon emissions, disclosure progress and supplier sustainability risks and opportunities in a unified view.
- Shared services and increased efficiency.Monitor and manage issues, regulations, policies and disclosures from a single console/dashboard for improved program efficiency, productivity and reporting.
- Integrated data model. Combining a broader range of data across multiple risk areas – including ESG factors – for better assessment and analysis. This allows for more insight, speedier decision making and measurable improvement of overall GRC program execution.
“A holistic approach to governance, risk and compliance management has become a strategic imperative. ESG factors are part of an expanding risk profile and deserve the same attention as other business risks,” said Sean Thompson, NAVEX president and COO. “Integrating NAVEX ESG functionality on the NAVEX One Platform allows customers to create and manage a GRC program that is both data-driven and comprehensive.”