JD Edwards launches new feature: sustainability framework
Mid-October 2024 marks an important step for companies using Oracle JD Edwards EnterpriseOne. A new feature will be launched: the JD Edwards Sustainability Framework. This framework addresses the growing need for companies to efficiently collect and manage environmental data. It focuses on helping organizations comply with Environmental, Social, and Governance (ESG) criteria, specifically focused on environmental management.
Why is the JD Edwards Sustainability Framework important?
Sustainability and environmentally friendly operations are no longer optional for organizations. The pressure to collect and report environmental data is growing, especially as companies must comply with strict regulations and meet internal sustainability goals. JD Edwards responds to this with a standardized environmental data collection and analysis solution that provides companies with an easy way to understand their energy consumption, fuel consumption, and resulting carbon emissions.
JD Edwards EnterpriseOne Sustainability Framework
Source: Oracle
What can you expect from the JD Edwards Sustainability Framework?
The framework provides a standardized method for collecting and managing data from various business activities. Consider capturing data on fuel and energy consumption, which is important for measuring environmental impacts. An integrated approach makes it easier for companies to comply with both mandatory and voluntary ESG reporting.
- Environmental data collection: Data such as energy consumption and greenhouse gas emissions are captured in a standardized way, which helps companies accurately monitor and report emissions. This helps companies identify potential areas for improvement and prepare for stricter regulations.
- Integration with external solutions: While the JD Edwards Sustainability Framework provides a strong foundation for collecting environmental data, companies can integrate external tools and software to calculate and report their carbon emissions. This makes the system flexible, allowing it to be adapted to the specific needs of different industries and countries.
For detailed information, you can view Oracle's official documentation here.
The role of ESG in business operations
More and more companies are incorporating ESG principles into their strategy, not only to minimize environmental impacts, but also to be more transparent with investors and customers. The JD Edwards Sustainability Framework responds to this by supporting companies with the environmental component of ESG. However, it is important to note that the framework is still under development. Oracle has indicated that adjustments in functionalities and integrations may be made after the initial release.
Source: Oracle - JD Edwards Sustainability Framework - Statement of Direction
A platform for the future
Although the JD Edwards Sustainability Framework does not perform carbon calculations itself, it can be seamlessly integrated with external tools that do, such as Oracle Enterprise Performance Management (EPM) and Oracle Analytics Cloud. These tools provide detailed analytics and reporting that help companies plan and optimize their sustainability initiatives.
Conclusion
The JD Edwards Sustainability Framework offers a promising solution for companies looking to manage and improve their environmental impact. With the ability to efficiently collect and report environmental data, companies can better meet the increasingly stringent requirements of ESG reporting. While the functionalities may still evolve, it is clear that this development is an important step toward a more sustainable future for JD Edwards users.
