Spark Newsletter – May 2024
The month’s newsletter takes a look at:
Impact of cyber incidents on supply chain integrity
Cyberattacks are consistently among the top risks that concern global executives. Hackers commonly exploit the interconnectedness of companies and their suppliers to gain access to enterprise IT systems. To defend themselves, companies need to ensure cybersecurity throughout their supply network.
Managing cyber risk in the supply chain begins with identifying where risks exist. Professionals in procurement and supply chain management also need insight into the potential effects that cyber incidents can have, which enables them to get ahead of cyber risk and minimize disruptions.
A bull market for ESG reporting
Investing goals have historically been focused on generating financial returns by allocating capital to companies and projects that could deliver attractive returns on investment. However, in recent years, investors have realized that factors beyond traditional financial metrics can significantly impact an investment’s long-term performance.
ESG criteria consider how well companies and projects safeguard the environment and the communities they work in, as well as how they ensure management and corporate governance meet standards. ESG frameworks encompass a wide range of issues, including climate change, human rights, labor standards, board diversity and corruption. These factors are often used by investors to evaluate the long-term sustainability of a company’s business model and its ability to generate financial returns over time.
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Why environmental accounting software is a game changer in high-emitting industries
While the world fights climate change with bold initiatives, other environmental issues such as air pollution, water supply and waste disposal come under the spotlight as well. Managing vast amounts of environmental data for air, water and waste can be overwhelming, especially for large businesses in high-emitting industries. This burden often overshadows the true potential of this data to unlock insights for improving efficiency, reducing waste and optimizing operations. By streamlining data collection and analysis and identifying areas for improvement through robust software solutions, EHS teams can make a strategic contribution to broader sustainability goals.
Learn how environmental accounting software helps create a transparent and traceable record of data.
Understanding the plant maintenance life cycle
The plant maintenance life cycle is a familiar process in industries where maximizing productivity, limiting interruptions and having safe, operational facilities is key. Sometimes called “closed-loop maintenance” or “work-order life cycle,” this framework ensures that all maintenance activities are scheduled and performed safely and correctly.
It is a conceptual multi-phase process that provides the foundation for productivity and continuous operational improvement. The first half of the life cycle involves preparation. Execution then is enriched by subsequent stages that capture any insights gained.
Ensuring compliance: A guide to the updated GHS regulations
The implementation of the United Nations’ Globally Harmonized System of Classification and Labeling of Chemicals (GHS) was an achievement. Countries were willing to compromise on a regulatory framework to aid in the communication of hazards all over the world. The GHS was not perfect, and not all countries implemented it in the same way, but it was a vast improvement over the very different ways of determining hazards that we had in the past. It also allowed countries that did not already have a regulatory framework for hazard communication to implement a plan more easily than starting from the beginning. However, it does seem as if a shift is going on; regulators now appear more willing to move away from the harmonization model.
We hope you found this issue of the Spark Newsletter to be informative and insightful. Soon, you will notice a new look and feel to our newsletter, but we will still be bringing you the same quality, expert content you’ve grown accustomed to from Sphera.
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