Sustainability software firm CRedit360 has helped global chemistry company Solvay to introduce a consistent, group-wide approach to sustainability reporting, following its acquisition of Rhodia.
Using 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 analyze 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.
The Credit360 system will allow Solvay to consolidate and analyze data from different entities while retaining other existing systems, says Michel Washer, Solvay’s deputy chief sustainability officer.
Some 400+ users will use the system, tracking more than 1,000+ 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.
Looking to the future, Solvay says it may also scale its use of the system to replace certain legacy systems, as it seeks to further streamline the reporting process.
In May, CRedit360 was named a gold-level CDP software partner for the fourth year running.