Bizongo, a vendor digitalization platform, launched an Environmental, Social, and Governance Scorecard (ESG). The scorecard is meant to boost environmental consciousness among 100,000 micro, small, and medium enterprises.
According to the Environmental Leader, this scorecard will allow businesses to track their compliance on different ESG components, such as energy management, water consumption, recycle and reuse programs, solid waste management, and more.
“Leveraging Bizongo’s digital vendor management platform, the scorecard will help MSMEs on the platform validate their credibility in following mandatory compliances, especially when applying for Zero Defect Zero Effect (ZED) certification. It will also simplify availing ZED benefits, such as subsidy on the cost of tech adoption, reimbursement on acquisition and installation of plant & machinery/testing equipment, and concessions in pricing/processing charges by banks, among others.”
The MSME sector in India is resource intensive. There are over 19.4 million MSMEs in the manufacturing industry. They consume 25% of the total energy in the industry sector and generate 100 million tonnes of CO2 equivalent. India is continually boosting its manufacturing, so this consumption is expected to increase.
The problem is that most businesses don’t track their ESG compliance or rely on manual processes to collect internal data. The result is the unorganized storage of data in different formats, which leads to delays in decisions.
Luckily, ESG is becoming crucial for capital allocation, so companies are compelled to work on their sustainability performance.
Marina is passionate about sustainability and works to help ensure our planet stays as our home for a long time. She takes part in environmental conservation by recycling and not buying single-use plastic.
Business & Policies , Green Technology ,
Bizongo Creates a Scorecard for Bolstering ESG Intelligence
by : Marina Maletic | Published: February 27, 2023
Indian vendor digitalization platform, Bizongo created a program that allows companies to track sustainability efforts.
Bizongo, a vendor digitalization platform, launched an Environmental, Social, and Governance Scorecard (ESG). The scorecard is meant to boost environmental consciousness among 100,000 micro, small, and medium enterprises.
According to the Environmental Leader, this scorecard will allow businesses to track their compliance on different ESG components, such as energy management, water consumption, recycle and reuse programs, solid waste management, and more.
The MSME sector in India is resource intensive. There are over 19.4 million MSMEs in the manufacturing industry. They consume 25% of the total energy in the industry sector and generate 100 million tonnes of CO2 equivalent. India is continually boosting its manufacturing, so this consumption is expected to increase.
The problem is that most businesses don’t track their ESG compliance or rely on manual processes to collect internal data. The result is the unorganized storage of data in different formats, which leads to delays in decisions.
Luckily, ESG is becoming crucial for capital allocation, so companies are compelled to work on their sustainability performance.
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Marina Maletic
Marina is passionate about sustainability and works to help ensure our planet stays as our home for a long time. She takes part in environmental conservation by recycling and not buying single-use plastic.
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