Equipped with the credit360 system, Solvay is set to streamline its data management, improve the quality of the group's sustainability disclosures and promote greater collaboration between business units. With the time saved, it will place a greater focus on analysis and strategy, as it seeks to make progress on its overarching 'Solvay Way' sustainability policy and move towards integrated reporting.
Solvay, which has 29,400 employees in 56 countries, was already in talks with credit360 to introduce a uniform way to analyse and report its global sustainability data. Individual business units used different data management systems, with little cross-functional collaboration on sustainability and no global approach to defining material issues. Following Solvay's acquisition of Rhodia, these issues were compounded. Its new employees used a different set of processes and reporting tools, while the acquisition also increased the complexity of the data management challenge, with many more sites, business units and countries to monitor.
"We are committed to increasing the quality and consistency of our sustainability reporting and adopting a uniform way of reviewing group-wide data is a vital part of this," says Michel Washer, Deputy Chief Sustainability Officer, Solvay. "The credit360 solution will allow us to consolidate and analyse data from different entities while retaining other existing systems, and step up our focus on performance analysis."
Some 400+ users will use the system, tracking more than 1000+ sustainability indicators. The credit360 team has also configured the system to allow Solvay to report on key aspects outside of the GRI G4 framework, such as environmental incidents. Using the credit360 solution, Solvay's Sustainable Development team will be able to achieve a clearer overview of its global sustainability data and enhance the effectiveness of its annual Solway Way assessment.
"We worked closely with Solvay to engage its internal stakeholders and demonstrate exactly how the system would meet their sustainability reporting needs," says Richard Kirby, Director, credit360. "The credit360 system will act as a consolidator, forming a central database of information fed in from existing data management systems. Each business unit will also have access to specific performance dashboards and Solvay will be able to respond more efficiently to multiple reporting frameworks and surveys."
The credit360 system will increasingly become a strategic tool to prompt greater collaboration between Solvay's different functions on sustainability performance, with a particular emphasis on analysis. Looking to the future, Solvay may also scale its use of the solution to replace certain legacy systems, as it seeks to further streamline the reporting process.
For further information on streamlining sustainability reporting with credit360 software, please visit www.credit360.com. To download the full Solvay case study, please click here.
credit360’s modular web-based platform helps companies to accurately capture, manage and analyse environmental, safety, supplier and social data; providing a 360° view on their sustainability performance.
Founded in 2002, credit360 has over 175 customers including Philips, HEINEKEN, Nestlé and McDonald’s. The company is headquartered in Cambridge, UK, with offices in the USA and Australia. credit360 was recently named as a global leader in both sustainability management software and EHS software by independent analyst firm Verdantix.