Cloud Spreadsheet for ESG Analytics
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Solution Overview
Problem
Current methods for objectively scoring companies on Environmental, Social, and Governance (ESG) issues face challenges in comparing the real impact across companies and sectors due to the plethora of ESG metrics, making it difficult to benchmark and decide on investments or business practices effectively.
Innovation Solution
A Software-as-a-Service infrastructure that performs data analytics by translating ESG data into monetary values using formulas specific to each industry, allowing for easy comparison and providing actionable insights through a cloud-based spreadsheet application, enabling users to quantify holistic impact and understand ESG risks and opportunities.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If multiple ESG metrics are collected and analyzed, then the comprehensiveness of ESG assessment is improved, but the complexity of comparison and analysis increases
Solution Approach 1:
The patent introduces a cloud-based spreadsheet application as an intermediary tool between raw ESG data and analytical insights. The spreadsheet serves as a mediator that automatically processes multiple ESG metrics through pre-configured formulas and calculations, transforming complex multi-dimensional ESG data into standardized scores and comparable metrics without requiring users to manually manage the complexity of multiple data sources and calculation methods
2Loss of information
If ESG data from multiple sources is integrated, then the completeness of ESG information is improved, but the difficulty of data processing and standardization increases
Solution Approach 1:
The patent implements a universal cloud-based spreadsheet platform that can handle multiple types of ESG data from diverse sources simultaneously. The spreadsheet application provides multi-functional capabilities including data import, cleaning, normalization, calculation, and visualization all within a single tool, enabling the system to process heterogeneous ESG information from various providers and formats through standardized procedures
3Measurement precision
If industry-specific formulas are used for ESG calculation, then the accuracy of ESG scoring is improved, but the complexity of the calculation system increases
Solution Approach 1:
The patent segments the ESG calculation system into industry-specific templates within the spreadsheet application. Each industry (e.g., energy, healthcare, technology) has its own pre-configured spreadsheet template with customized formulas and metrics relevant to that sector. This segmentation allows accurate industry-specific calculations while managing complexity through modular, standardized templates that can be selected based on the company's industry classification
Data Source
AI summary
A Software-as-a-Service infrastructure is provided to perform data analytics, wherein a given analytic is defined in a spreadsheet according to a formula, and wherein the formula is associated with an Environmental, Social and Governance (ESG) impact. The infrastructure comprises program code configured to receive a request, determine whether the request is associated with data of a first type and, if so, to clone the spreadsheet. The code is further configured to receive results from execution of the spreadsheet with respect to given data, and to provide the results for display in response to the request. The spreadsheet executes independently of execution of the computer program code.