Digitize Sustainability Reporting
For sustainability reporting to produce effective reports and set impactful targets, companies need complete, granular, and accessible data.
Context & Challenges
Sustainability reporting is an invaluable management tool for any sector, with at least three quarters of all mid-large sized organizations investing in it. From increasing a company’s own understanding of its performance, to providing competitive benchmarks and tracking, to strengthening stakeholder engagement and building trust, reporting drives a number of benefits.
The fertilizer industry is growingly conscious of its environmental impact, with effective stewardship at the forefront of sustainability discussions in the industry. Accurately and efficiently reporting on data such as nitrogen efficacy, fertilizer usage, runoff, and lost product allows for the kind of oversight necessary to drive sustainability in the industry, having been shown to drive significant financial and social benefits, with The Fertilizer Institute finding that water usage per ton of fertilizer has decreased every year since reporting commenced in 2013. Moreover, the Institute reports that 1.4 billion gallons of water have been reclaimed and 461.9 billion of treated wastewater have been recycled.
However sustainability reporting can be a cumbersome task, with little standardization and often inadequate transparency. In order to produce effective reports, companies need complete, granular, and accessible data to set realistic and impactful targets.
For example, Capgemini collates over 10 million sustainability data-points each year in order to directly calculate operational carbon impacts.
Reports must also be precise and authentic in order to drive benefits of trust.
Often regulations around sustainability reporting are siloed, resulting in a lack of standardization that makes data difficult to holistically understand. The fertilizer industry is based on a complicated supply chain ranging from production to distribution to retail, making it difficult to accurately assemble the necessary data, especially given an already siloed system.
The good news is that our STRATO product has the ability to resolve many of these inefficiencies, building productivity and financial relief for both crop insurance companies and farmers.
- For insurance companies, STRATO eliminates a large portion of the work involved in verifying and adjusting claims, allowing insurers to use their time more efficiently and cost-effectively.
- For farmers, this results in payouts in the immediate aftermath of an event such as a natural disaster, enabling immediate replanting and the corresponding financial gain. STRATO facilitates this by including certain events as automatic triggers of related payouts in the smart contracts.
In other words, STRATO facilitates parametric or index insurance, which have otherwise been too complicated to actualize efficiently and effectively. Our platform also incorporates intelligent predictions into the smart contracts to pre-empt events and build proactivity into the industry.
Any STRATO insurance solution leverages STRATO's enterprise grade features
RESTful APIs for direct connection of IoT devices to the blockchain network
Identity Management, OAuth and SSO capabilities for simplified IoT authorization and user login
Privacy via private chains to keep any competitive/operations data private
Enterprise Data Modeling for integration of existing and future sustainability calculation models