Global financial services company transforms ESG reporting for a sustainable future | HCLTech

Global financial services company transforms ESG reporting for a sustainable future

A leading financial institution was focused on bringing transparency to its Scope 3 environmental, social and governance (ESG) reporting to reduce carbon emissions by 2030.
5 min read
5 min read

The Challenge

Identifying hurdles in the adoption of ESG practices across value chains

The client experienced challenges in capturing, monitoring and reporting ESG parameters in real-time for compliance purposes. The primary impediments they encountered were:

  • Ensuring compliance with complex ESG regulatory requirements
  • Supervising and controlling business as usual (BAU) activities in alignment with ESG practices
  • Maintaining transparent and open communication with various stakeholders
  • Solidifying sustainability-focused business strategies to promote the long-term viability

The Objective

Improving transparency in ESG reporting for better visibility

The client recognized the need to address the above challenges to drive sustainable business growth by outlining the following goals:

  • Establishing efficient processes to ensure adherence with Scope 3 ESG regulatory requirements, framework policies and procedures
  • Managing and supporting all BAU activities on the Google Cloud Platform (GCP)
  • Promoting effective communication channels and platforms to facilitate open dialogue with stakeholders
  • Embedding sustainable business practices into the company's culture, values and long-term vision

The Solution

Bringing sustainable digital transformation in record time

HCLTech's Google Ecosystem Unit (GEU) introduced a robust data and analytics solution. This solution enabled the client to measure their ESG metrics effectively, address existing challenges and optimize their sustainability initiatives. Here are some of the highlights of the solution:

  • Real-time and interactive data management for seamless data handling and storage
  • Accurate and timely disclosure of ESG transactions to enhance process visibility and transparency
  • Dynamic, real-time dashboard for monitoring and measuring ESG KPIs
  • Tailored analysis of ESG-compliant reports for informed decision making

The Impact

Driving performance improvements with enhanced Scope 3 ESG reporting

We focused our efforts on offering the client advanced ESG reporting capabilities, which generated outstanding results. These included:

  • 40% Improvement in the observability of ESG parameters
  • 10% reduction in process cycle time