{"id":17227,"date":"2023-01-18T12:40:04","date_gmt":"2023-01-18T17:40:04","guid":{"rendered":"https:\/\/www.ogc.org\/?p=2230"},"modified":"2023-01-18T12:40:04","modified_gmt":"2023-01-18T17:40:04","slug":"principled-and-powerful-geospatial-data-for-esg-reporting-at-location-powers-2022","status":"publish","type":"post","link":"https:\/\/fm-connect1.fortmindz.in\/wp-ogc\/blog-article\/principled-and-powerful-geospatial-data-for-esg-reporting-at-location-powers-2022\/","title":{"rendered":"Principled and Powerful: Geospatial data for ESG reporting at Location Powers 2022"},"content":{"rendered":"\n

There was a principled and powerful representation in attendance at\u00a0OGC\u2019s Location Powers event in London\u00a0last November.\u00a0Ordnance Survey<\/a>\u00a0hosted the event at the\u00a0Geovation Hub<\/a>\u00a0with 23 speakers over two days. Representatives from across finance, transport\/logistics, and construction\/maintenance markets described their organizations\u2019 approach to Environmental, Social, and (corporate) Governance (ESG) reporting and how it benefits from geospatial technologies. The event highlighted the need for sharing location information easily to many stakeholders.<\/p>\n\n\n\n

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\u201cThis Location Powers event has been eye-opening in understanding how financial experts and geospatial practitioners can look at the same data in very different ways,\u201d said Scott Simmons, OGC\u2019s Chief Standards Officer. \u201cWorking from the perspective of each will help us identify the right targets for standardization and development of best practices in the use of geospatial data to support accurate and comparable ESG metrics.\u201d <\/p>\n<\/blockquote>\n\n\n\n

While nation states are working towards their United Nations (UN) Sustainable Development Goals<\/a> for 2030, corporations are being incentivised to work across international borders and throughout their supply chain in an effort to reduce carbon emissions and mitigate and adapt to climate change risks. Self-regulation has not been effective and new EU legislation<\/a>, due in June 2023, could change the economic landscape not just in Europe, but globally. Geospatial\u2019s role will be crucial in this effort.<\/p>\n\n\n\n

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Allan Jamieson, Data Standards and Governance, Ordnance Survey (OS) opens Location Powers 2022.<\/em><\/small><\/figcaption><\/figure>\n\n\n\n

A corporation\u2019s voluntary self-assessment is the current source of most ESG reports, as stand-alone documents or as provided with their annual report. The information being supplied can be variable, to differing standards, overly-optimistic, or even take a cynical approach that \u2018green-washes\u2019 their actions. For international corporations, being able to reassure stakeholders and investors that their business model can extend into the future requires more diverse data to be included in ESG reporting. <\/p>\n\n\n\n

For each of the data topics \u2013 environment, social, and (corporate) governance \u2013 there is a location aspect. Environmental data can be derived from Earth Observation (EO) and remote sensing sources. Social data can be sourced from census, social media, and on-the-ground news reports. And both the Environmental and Social aspects are directly reflected in governance. What regulatory authorities and other organizations are searching for is authoritative, consistent, and reliable data from which they can verify their own datasets against the validity of corporations and their ESG reports.<\/p>\n\n\n\n

Read on to learn what was discussed, or\u00a0access recordings and slides from the event on the\u00a0OGC Location Powers 2022 website.<\/strong><\/p>\n\n\n\n

Two Days of Insights<\/h2>\n\n\n\n
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Attendees meet during networking reception at Location Powers event<\/figcaption><\/figure>\n\n\n\n

The Location Powers provided attendees with two days of focused content: Day 1 covered the challenges of the various industry sectors and Day 2 highlighted the geospatial sector\u2019s response to those challenges. Each day included expert presentations with Q&A, breakout sessions on various sector topics, and an end-of-day expert panel to share outcomes and insights from the breakouts. There were plenty of opportunities to network with other attendees and speakers during the breaks, over an enjoyable lunch, and an evening drinks reception.<\/p>\n\n\n\n

Day One<\/h3>\n\n\n\n

After introductions, Richard Peers, Founder, ResponsibleRisk<\/a> kicked off the event with a detailed overview of ESG and the various standards available in the context of COP27 including the Task Force on Climate-Related Financial Disclosures (TCFD)<\/a> that serves to mitigate, not just deal with, outcomes, and the Transition Framework for Nature (TNFD)<\/a> to describe the governance and strategy.<\/p>\n\n\n\n

Yasmin Raza, ESG Market Intelligence & Engagement Team Manager, Financial Conduct Authority (FCA)<\/a> spoke specifically about how the finance sector in the UK plans to move to become the NetZero world capital of finance. The FCA will introduce three key labels<\/a> to help consumers distinguish between financial products: Sustainable Focus, Sustainable Improvers, Sustainable Impact.<\/p>\n\n\n\n

David J. Patterson, Head of Conservation Intelligence, World Wide Fund for Nature (WWF-UK)<\/a> highlighted the difficulties in accessing up-to-date data on biodiversity at a suitable resolution for analysis when accuracy of data sets was hard to determine.<\/p>\n\n\n\n

Andrew Coote, Director,\u00a0ConsultingWhere\u00a0described the implementation of the\u00a0UN Integrated Geospatial Information Framework (IGIF)<\/a>\u00a0aimed at developing nations and how the UN was supporting them to move from country-level guidance to strategic localized\u00a0 action plans.<\/p>\n\n\n\n

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Location Powers 2022 has begun! OGC Chief Standards Officer Scott Simmons is opening with an overview of OGC and geospatial in #ESG<\/a> reporting #OGCLP22<\/a> pic.twitter.com\/bIvUkQY6YX<\/a><\/p>— Open Geospatial: OGC (@opengeospatial) November 15, 2022<\/a><\/blockquote>