Companies across all industries collect data and compile reports on their sustainability performance, but many struggle to demonstrate tangible results.

DNV GL is launching a new sustainability application which is still at the concept stage. It will build on DNV GL’s own open industry platform, Veracity, adding a sustainability dimension to the growing Veracity eco-system.

By using big data analysis and machine learning, the application will give businesses an in-depth analysis of their performance, risks and opportunities in sustainability.

Company sustainability data enriched with relevant external datasets will let companies understand their sustainability performance in the context of their business operations, generating meaningful insights.

The focus of DNV GL’s new application will initially be directly on the UN Sustainable Development Goals (SDGs). It will provide companies with specific outputs on how they perform towards the SDGs – and, crucially, show how their sustainability efforts translate into business value.

DNV GL has already launched the self-assessment app SDG Lens. It enables companies to understand the impact of their operations on the SDGs, both in a positive and negative way. The app provides the companies with priority SDGs, based on where they have the most potential for impact.

With more applications in the pipeline, DNV GL will give companies a comprehensive set of tools to measure their sustainability performance over time.

The tools will produce robust inputs for strategic decision-making, highlighting opportunities, routes to action and partnerships. They will also establish a clear link between sustainability and the bottom line, delivered within the framework of the SDGs.

The UN Sustainable Development Goals are not only a global call to action, but also a business opportunity. Unilever CEO Paul Polman has called the goals “the greatest economic opportunity of a lifetime”.

By addressing the SDGs today, companies can not only better manage risk, but improve efficiency, build resilience and drive growth.

DNV GL is a global quality assurance and risk management company. It operates across a range of sectors – including maritime, oil and gas, and renewable energy – in more than 100 countries worldwide.