The Framework for ESG Strategy & Transformation (FEST) which can be used for business transformation has four levels of measurement of itself. But in practice there are a lot of specialists in the market that focus on a particular level of a particular part of the ESG framework.
In many cases there will be a specific standard or even a custom standard that will handle the measurement on a very high detail. For ESG transformation and to utilise organisational patterns optimally data collection and metrics calculations with a very high operational detail makes for better forecasts and predictions.
Connecting the dots within the E,S and G
From a boards perspective steering on a ESG strategy with so much detail is hardly possible. Here it is necessary to develop a roll-up structure to cohesively connect different types or parts of ESG frameworks.
How the FEST tree could look like:
Image) The yellow blocks represent the solutions layer. The purple ones the risk layer of FEST. The small blocks have references to frameworks that can be connected to FEST.
When developing an ESG strategy, it helps to understand standards and frameworks that help with the parts. This way you can develop an ESG data landscape that is connected to already figured out structures and formats, which makes bench marking easier.
