ORCODA Limited (ASX:ODA) is pleased to announce that the Company has adopted an Environmental, Social, and Governance (ESG) framework with 21 core metrics and disclosures created by the World Economic Forum (WEF).
- Disclosures are made using the World Economic Forum Stakeholder Capitalism ESG framework
- Engagement of Socialsuite technology platform ESG Go for disclosing and monitoring progress
- Commitment to setting quarterly ESG actions and releasing baseline ESG disclosure reports
Managing Director of ORCODA, Geoff Jamieson commented:
“ORCODA is committed to building legitimate Environmental, Social, and Governance (ESG) credentials. We have commenced ESG reporting as a tangible first step in our ESG journey.
We greatly value ESG considerations as they enable us to better identify material risks and growth potential, leading to better-informed decisions and business outcomes. Equally, our commitment to ESG creates a consistent and measurable approach that helps us contribute to building a more prosperous and fulfilled society and a more sustainable relationship with our planet.
We have adopted Socialsuite’s ESG Go as a best-in-class solution for leading companies to easily start ESG reporting with a structured, standardised, and globally recognised solution. We find ESG Go excels in making the WEF framework accessible and operational. We use it to track our disclosure progress, demonstrate our ESG performance against the WEF ESG framework, and share our journey of building robust ESG credentials.”
STARTING ESG REPORTING
The context in which the Company operates has been transformed by climate impact, nature loss, and social unrest around inclusion and working conditions. This new global environment is challenging the traditional expectations of corporations and redirecting investment capital. Global sustainable investment now tops $30 trillion, up 68% since 2014 and tenfold since 2004. ORCODA is charting a course to build resilience and enhance our social licence through a greater commitment to long-term, sustainable value creation that embraces the wider demands of people, planet and shared prosperity.
UNIVERSAL ESG METRICS
ORCODA has commenced ESG reporting by making disclosures against the World Economic Forum (WEF) Stakeholder Capitalism framework. The WEF framework is a set of common metrics for sustainable value creation captured in 21 core ESG disclosures. The Board of ORCODA has resolved to use this universal ESG framework to align mainstream reporting on performance against ESG indicators.
ORCODA sees the WEF Stakeholder Capitalism Metrics as the most appropriate ESG disclosure framework to start its ESG journey. The Stakeholder Capitalism framework leverages a variety of existing frameworks and is intentionally built to be a steppingstone to begin building capacity and capability in ESG reporting. It enables ORCODA to report on core ESG matters of governance, anti-corruption practices, ethical behaviour, human rights, carbon emissions, land use, ecological sensitivity, water consumption, diversity and inclusion, pay equality and tax payments.
By including ESG metrics in mainstream reporting and integrating them into governance, business strategy, and performance management process, ORCODA sets out to demonstrate that it diligently considers all pertinent risks and opportunities in running its business. ORCODA will demonstrate ongoing commitment to ESG by sharing its progress toward ESG disclosures in quarterly updates in combination with making disclosures transparently available in the public domain.
STANDARDISED DISCLOSURE TECHNOLOGY
To ensure that ORCODA can measure, monitor, and report on its ESG disclosure progress, the Company has engaged impact monitoring technology platform Socialsuite to streamline the disclosure and ongoing ESG reporting process. The Company’s goal is to demonstrate commitment and progress on making ESG disclosures, but more broadly, aims to progress on a range of core and expanded ESG metrics.
While our business is creating inherent positive impact, the adoption of the WEF framework has already paid ESG dividends:
- Our software solutions are improving the sustainability of our clients, with one case reporting an excess of 40% reduction in CO2 emissions over a 5-year period.
- We’re proud to support not-for-profit organisations, such as Australian Community Transport Association (ACTA), where our work improves the accessibility of services to disabled and aged care communities.
- As part of our commitment to positively effecting the local communities where we and our clients operate, ORCODA has sponsored:
- The 2022 Mansfield Hotel Tour in Mt Buller, Victoria
- The ORCODA Dragon Boat Crew in Brisbane, Queensland
- Football sponsorship for Classic Wallabies series at Beef Week in Rockhampton, Queensland
- We are committed to creating and ensuring a diverse work environment in which everyone is treated fairly and with respect and where everyone feels responsible for the reputation and performance of Orcoda. We acknowledge the corporate benefits arising from a commitment to diversity and inclusion.
ORCODA will update the market regularly on its ESG disclosure progress and seek to ensure that our business remains an impact investment for shareholders and local communities.
ORCODA has subscribed to Socialsuite’s ESG Go reporting platform to create a baseline ESG disclosure report over the next six months. Subsequently, the Company will focus on utilising Socialsuite to deliver and report ongoing progress toward disclosing and improving ESG metrics and indicators. ESG Go provides an easy way for investors and other stakeholders to assess the commitment and progress of the Company on its journey to create “best in class” ESG credentials and outcomes.
Socialsuite is a global leader in impact technology. Founded in 2014 in Melbourne, today it has offices in Australia, the United States, and Canada. Socialsuite’s purpose is to help organizations show the change they are making. To do that, its develops and provides technology solutions to measure and manage social impact and ESG reporting. A progressive and influential customer base around the globe is using Socialsuite’s impact technology to simplify the complexity of measuring social impact and disclosing ESG metrics.