Executive Briefings

Study Says Companies Aren't Doing Enough to Track Their Environmental Impacts

Although green measurement is considered important, businesses on both sides of the Atlantic lack the correct systems to track their full environmental footprints, according to an independent study conducted for enterprise software vendor IFS in the United States, Scandinavia and the Benelux countries.

As environmental regulation advances in both Europe and the U.S., businesses are facing increasing pressure from regulators, customers and investors to document and reduce their environmental impact. According to IFS, research data suggest that organizations need to make wholesale changes to their business technology to keep up with these rapidly advancing mandates.

The study, based on surveys of industrial executives in each region, discovered that over three quarters of companies consider it important to track their environmental profile-including 83 percent in the U.S., 82 percent in Scandinavia and 79 percent in Benelux. However, nearly three quarters of European respondents (74 percent in Scandinavia, 75 percent in Benelux) admitted to not having sufficient enterprise resources planning software in place to track their environmental footprint. The U.S. fared slightly better, with 47 percent saying they lacked the enterprise software for environmental tracking, with an additional 42 percent claiming limited capabilities for tracking environmental impacts.

IFS says its Eco-footprint Management tool, an integrated component of its suite of applications, provides organizations unprecedented control and transparency of their environmental impact. 

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Although green measurement is considered important, businesses on both sides of the Atlantic lack the correct systems to track their full environmental footprints, according to an independent study conducted for enterprise software vendor IFS in the United States, Scandinavia and the Benelux countries.

As environmental regulation advances in both Europe and the U.S., businesses are facing increasing pressure from regulators, customers and investors to document and reduce their environmental impact. According to IFS, research data suggest that organizations need to make wholesale changes to their business technology to keep up with these rapidly advancing mandates.

The study, based on surveys of industrial executives in each region, discovered that over three quarters of companies consider it important to track their environmental profile-including 83 percent in the U.S., 82 percent in Scandinavia and 79 percent in Benelux. However, nearly three quarters of European respondents (74 percent in Scandinavia, 75 percent in Benelux) admitted to not having sufficient enterprise resources planning software in place to track their environmental footprint. The U.S. fared slightly better, with 47 percent saying they lacked the enterprise software for environmental tracking, with an additional 42 percent claiming limited capabilities for tracking environmental impacts.

IFS says its Eco-footprint Management tool, an integrated component of its suite of applications, provides organizations unprecedented control and transparency of their environmental impact. 

Read Full Article