FigBytes Unveils All-in-One Sustainability Platform

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Apr 19, 2023, 09:45 ET

Upgraded platform manages climate, water, and many other ESG programs from a single platform, simplifying strategy, data management, framework reporting and stakeholder engagement

OTTAWA, ON, April 19, 2023 /PRNewswire/ - FigBytes, creators of the leading Sustainability Platform for impact-focused organizations, today announced the availability of its completely upgraded, all-in-one Sustainability Platform. The latest version of the Sustainability Platform from FigBytes features new solutions and capabilities for climate accounting and climate action, enhanced water stewardship features, new reporting options, integrations, upgraded back-end, and an enhanced user interface and improved user experience.

The updated, purpose-built, modular platform, supported by FigBytes' team of advisors and technology experts is a first for the industry, and a major step forward. The single, robust platform transforms all climate, water, and other sustainability metrics important to an organization into simple reporting and actionable insights. It does so by capturing operational and supplier data in one central, secure, cloud-based platform that manages strategy, automates framework reporting, and simplifies stakeholder engagement.

The proliferation of ESG reporting frameworks, the pressures to set and reach net-zero targets and other climate goals, the need for improved supplier transparency, and increasing regulation have placed immense pressure on organizations and sustainability leaders.

"Data collection complexities, time and resource-intensive reporting cycles, and engaging with stakeholders add further strains to sustainability leaders as organizations work toward their sustainability goals and commitments," explained Ted Dhillon, CEO and Co-founder, FigBytes. "The latest version of our award-winning platform addresses these challenges and equips organizations with the solutions they need to make positive change for people and the planet. We've essentially created a one-stop-shop for organizations to easily manage every aspect of an ESG or sustainability program, all from a single, powerful platform."

Highlights of FigBytes Sustainability Platform include:

Climate Action Solution

The new Climate Action solution helps organizations easily understand the actions necessary to reduce and neutralize their emissions to achieve their net-zero targets. This highly anticipated module is comprised of two core features: The first feature, Ambition, allows administrators to set net-zero targets, aligned with the SBTi or custom targets. The second feature, Scenario Analysis, forecasts future scenarios to assess net-zero opportunities. FigBytes' Scenario Analysis feature enables administrators to create scenarios of actions to reduce and/or neutralize emissions. Scenario Analysis also forecasts different scenarios, and the resulting future emissions are visualized on a graph for the set targets, comparing the company's emissions with scenario emissions.

Water Stewardship Solution Updates

While some companies track water consumption to meet reporting requirements, the impending water crisis will require more companies to look beyond compliance and become better water stewards, compounding the many data and reporting challenges they already face. In this latest release, the FigBytes Water Stewardship solution assists organizations in determining their water footprints and in understanding their overall impacts beyond water use in their business and with their stakeholders, all from the FigBytes Sustainability Platform.

Scope 3 Enhancements

FigBytes updated its Scope 3 solution to enable data capture at the supplier level for all fifteen Scope 3 categories, which helps to provide better supplier insights. The solution assists organizations in accurately accounting Scope 3 emissions and other relevant ESG data by facilitating data gathering from suppliers and service providers through surveys and providing the ability to use self-serve analytics to build dashboards.

Additional Frameworks for Reporting

The platform includes updated, pre-defined configurations for GRI (Global Reporting Initiative), GRESB (Global Real Estate Sustainability Benchmark), and BRSR (Business Responsibility and Sustainability). Together with the existing pre-programed frameworks for CDP, SASB, TCFD, ISSB, PRI and more, the platform's flexible framework report builder offers a comprehensive set of templates to produce any voluntary or mandatory disclosure report.

Migration to Microsoft Azure

FigBytes Sustainability Platform has been successfully migrated to Microsoft Azure Cloud. Customers benefit from the FigBytes award-winning Sustainability Platform now hosted on the highly secure, scalable, and reliable world-class Azure cloud infrastructure.

Carbon Credit Transactions

Through the platform's integration with carbon removal leader Patch, FigBytes customers can now purchase, track, and report on their carbon credit transactions all from within FigBytes Sustainability Platform. This ensures carbon credit transactions are managed as part of an organization's comprehensive carbon emissions reduction strategy.

Additional Enhancements

The latest platform features the ability to share materiality assessments with external stakeholders without having to log in. Also, the platform can now track additional environmental variables such as waterborne and rail freight options. Finally, the platform now enables the retroactive update for market-based emissions where users can add their own market-based emission factors into the platform. Zoho integration has also been enhanced, ensuring data from Zoho can be synchronized more quickly with FigBytes. Users also have the option of selecting a desired sync frequency and have more control of their own data refresh.

Product Availability

FigBytes all-in-one Sustainability Platform is now available. Existing customers of FigBytes should reach out to their account managers to learn more. If you have a climate goal you're working toward or need to meet a reporting requirement, connect with us today and we'll help you get started.

About FigBytes

FigBytes empowers impact-focused organizations to make positive change for people and the planet. The FigBytes Sustainability Platform transforms complex environmental, social, and governance information into simple reporting and functional insights by capturing operational and supplier data in a central, secure, cloud-based platform that manages strategy, automates framework reporting, and simplifies stakeholder engagement, for climate, water, and beyond. To learn more, visit FigBytes.com

SOURCE FigBytes Inc.