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MANY business leaders and their staff are rapidly getting up to speed on environmental, social and governance standards and principles (ESG).

However, there is a risk that, given the myriad reporting frameworks, companies could focus too much on the short-term report cards and miss the opportunity for more nuanced and efficient strategies that provide meaningful and long-term impact.

So amid this exploration of the different approaches to address ESG challenges, there is a great opportunity to leverage big data particularly human movement data with predictive intelligence and on-the-ground insights to shape more nuanced ESG strategies.

As humans, we consume, engage and generate vast volumes of data through a host of sensors and devices.

From the daily internet use of more than 2.5 quintillion bytes of data, to over 100 billion messages sent daily on WhatsApp through to the more than 1 billion daily credit card transactions daily, we are in a world of big data.

It must be acknowledged that this concept of big data in the hands of artificial intelligence and boards and executives may please shareholders but could also lead to community concerns.

So, if we cant necessarily put the genie back in the bottle, is there an opportunity with transparency, oversight and ethics to utilise big data for good rather than it being the equivalent of a big polluter on society?

Lets take the burgeoning investment and activity in Western Australia for renewables and natural resources.

For brownfield projects in transition or new greenfields proposals, analysing and comparing commuting patterns and preferences for workforces and supply chains can help companies design and optimise site locations.

Then theres support for downstream infrastructure to reduce greenhouse gas emissions from transportation and deliver production efficiencies.

In other words, if there is a more efficient way of you getting to, from and around work, going to the shops or to your local club, its good for you and the environment.

Similarly, through greater insights on behaviours across energy consumption and the relationship to the built and environmental infrastructure, there are opportunities to design and invest in more energy-efficient villages that reduce energy demand and the carbon footprint of the operations.

When we look at human movement data from the last three years with the impact of COVID, we have rich and unique insights on how people and businesses have changed the way they consume, engage and live.

This has brought into focus and expedited buy-local and sustainable behaviours that are central to an effective ESG strategy.

Through analysing human movement data and economic data, companies can better gauge the social and economic impact of their operations and workforces on local businesses, sporting clubs and childcare facilities, among others.

Not only can this help target necessary investment and support to build the capacity of communities, but it can also provide greater transparency and accountability on the impact of operations.

The safety and wellbeing of people within the workplace and community often hits the headlines and is subject to governance reviews or public scrutiny.

In recent years, companies investment in workforce strategies, training and support or designing workplace and associated infrastructure have been fast-tracked to remedy the shortfalls of previous decades and meet the expectations of community and shareholders.

While well intended, without understanding human behaviours and how they evolve such as the movement of people on site that identify or forecast at-risk practices relating to work safety, or where we design work camps without appropriate insights as to how people live and operate we run the risk of continued well-intended, yet patchwork responses.

As we explore the sixth wave of innovation (the first being the industrial revolution) that focuses on artificial intelligence, the internet of things and clean tech, no doubt there is fear and uncertainty in parts of the community, particularly given the behaviours of certain companies globally on privacy and data.

In reality, much of this data remains unstructured and unexplored, as companies are only beginning their journey on big data mining and refinement.

So, if handled ethically with appropriate oversight, these human movement breadcrumbs together with artificial intelligence and spatial modelling, can provide unique insights that can supercharge ESG strategies for companies and use the force for good.

James Curtis is chief executive of Element WA

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Using data to drive better outcomes - Business News