A Global Company Sustainability Benchmarking System using ESG Data
In this high-impact 2-month challenge the Omdena team developed a sustainability benchmarking system using natural language processing methodologies and Environmental, Social, and Governance (ESG) related company reports. The results of this project will be used to benchmark companies in their industry and globally.
The project partner, SustainLab, is a Stockholm-based SaaS Sustainability Management platform that automates collection, processing and visualization of sustainability data, to help companies spend less time on data-handling and more on accelerating change.
An ESG report or Sustainability report is a report published by a company or organization about environmental, social, and governance (ESG) impacts. It enables the company to be more transparent about the risks and opportunities it faces. It is a communication tool that plays an important role in convincing skeptical observers that the company’s actions are sincere.
SustainLab is building an ecosystem of software and AI solutions to help companies become more sustainable. A sustainability benchmarking system, which shows companies a comparison against competitors is a compelling incentive to set more ambitious goals and take bolder steps towards those goals. As companies are the main contributor to our unsustainable environment, society, and finance, helping them to become more sustainable has a significant impact on our planet and our society.
The project outcomes
SustainLab has collected more than 500 sustainability reports with metadata (country, industry group, industry, year, etc.). Their objective is to increase the number of reports to 40000 by covering more companies, industries, and years and by automating the data collection process. To achieve this goal, the Omdena team extracted around 10,735 reports from several websites and developed a dashboard to visualize the sustainability work of a company. The dashboard helps to compare topics, focus areas, and activities amongst companies globally regarding their ESG and sustainability-related impact.
This challenge has been hosted with our friends at
"Thanks Omdena for such a wonderful collaboration in tackling one of the toughest challenges in the ESG world. The results of the project are definitely great leaps forward to accelerate change for better business - better planet. This progress was impossible without the restless efforts of all the collaborators, data scientists and ML engineers who passionately signed up for it and put their hearts into it, thanks a lot!" - Kamal Hakimzadeh, CTO, SustainLab