Accountability for Sustainability: Weaving ESG into Contract Management
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Webinar Overview
A fragmented approach to ESG management can create obstacles across various departments in your organization. Watch this webinar to explore the importance of incorporating ESG standards into contracts and how AI-native CLMs can help you institutionalize ESG across the enterprise.
Watch on-demand below.
Accountability for Sustainability: Weaving ESG into Contract Management
Speakers
Julien Irmen
Senior Manager – Consulting, KPMG
Rahul Sharma
Regional Head – UK&I, D/A/CH, Nordics, Sirion
The Highlights
In this webinar, we learned that businesses worldwide are realizing that environmental, social, and governance (ESG) issues are closely linked to long-term success. To achieve sustainability and resilience, it’s crucial for companies to align their values with socio-economic issues.
The “how” might lie behind the power of your contracts, especially with the right AI CLM software.
Here are the key takeaways from the discussion:
AI for CLM: A Catalyst for ESG Initiatives
Contracts are the backbone of business processes – crucial tools for embedding ESG criteria into operations. AI-powered CLM systems enable organizations to manage contracts efficiently, ensuring ESG standards are incorporated from the outset. This foundational approach ensures that ESG considerations are integral to business transactions, enhancing accountability and sustainability.
Enhancing Data Analytics for ESG Compliance
Leveraging AI for contract digitization gives more visibility into the ESG clauses across a portfolio. This visibility is essential for assessing compliance and identifying gaps in ESG commitments. By analyzing contracts, businesses can better understand their ESG posture, drive compliance, and make informed decisions to align with ESG goals.
Streamlining Supplier Management
A critical aspect of ESG initiatives is managing the supply chain’s sustainability practices. AI CLM helps businesses assess and monitor supplier adherence to ESG standards. Through comprehensive supplier contract management, organizations can ensure their suppliers meet specified ESG criteria, promoting a sustainable and responsible supply chain.
Driving ESG Institutionalization
For ESG initiatives to be effective, they must be deeply embedded into the organization’s fabric. AI-powered CLM systems help institutionalize ESG by integrating it into the contract creation process. This ensures that ESG considerations are factored into every decision, from procurement to partnership, fostering a culture of sustainability and responsibility.
Transparency and Accountability
AI-powered CLM systems provide a platform for documenting and tracking ESG commitments and performance. This enables organizations to report on their ESG progress transparently, building trust with stakeholders and demonstrating their commitment to sustainability.
Is ESG Plus AI Contract Management For You?
As the conversation highlighted, AI-powered CLM is not just a tool for managing contracts but a strategic asset for embedding ESG principles into the core of business operations. By leveraging AI for enhanced visibility, compliance, supplier management, and institutionalization, organizations can drive meaningful progress toward their ESG goals.
As we move towards a more sustainable and responsible business landscape, the role of AI-powered CLM in supporting ESG initiatives will undoubtedly continue to grow. See how it can work for you here.
When it comes to contract management, business teams have often historically “set it and forget it” — but a contract can be a vital source of business insight when managed well.
Additional Resources
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