- Integrated technology company Orcoda (ODA) releases its first environmental, social and governance (ESG) report
- The company has adopted the World Economic Forum framework which captures 21 core disclosures grouped under four pillars including governance, planet, people and prosperity
- Orcoda Managing Director Geoff Jamieson says the smart tech company values ESG considerations as they allow it to identify risks and improvements, which lead to better-informed decisions and business outcomes
- Orcoda shares are down 17.9 per cent, traded at 11.5 cents as of 12:05 pm AEDT
Orcoda (ODA) has released an environmental, social and governance (ESG) report after committing to ESG reporting in 2022.
The smart tech solutions company has begun ESG reporting by making disclosures against the World Economic Forum (WEF) Stakeholder Capitalism framework.
The WEF framework is a set of common metrics, including governance, planet, people and prosperity, which are captured through 21 core ESG disclosures which the company deemed the most appropriate framework to start its ESG journey.
Orcoda adopted software company Socialsuite’s ESG Go as its launch pad for reporting, a structured and globally recognised solution it found helps make the WEF framework accessible and operational.
The company will include ESG metrics in its mainstream reporting and will integrate them into governance, business strategy, and performance management processes to show it considers all risks and opportunities in conducting its operations.
Managing Director Geoff Jamieson said the company is committed to building legitimate ESG credentials.
“We greatly value ESG considerations as they enable us to better identify material
risks and growth potential, leading to better-informed decisions and business outcomes,” Mr Jamieson said.
“Equally, our commitment to ESG creates a consistent and measurable approach that helps us contribute to building a more prosperous and fulfilled society and a more sustainable relationship with our planet.”
Based in Melbourne, Orcoda specialises in transport logistics and services across road, rail and air, with artificial intelligence (AI)-supported digital capabilities, supporting its vision of developing solutions to empower “connected smart cities of the future.”
Smart cities are increasingly becoming a priority to lower the carbon footprint using digital solutions to help upgrade water supply and waste disposal facilities, create smarter ways to light and heat infrastructure, and to integrate transport and communication processes.
Orcoda’s software can significantly reduce the carbon emissions of some clients through the optimisation of fleets of vehicles. In addition, its software works to digitally transform organisations to encourage a paperless workflow.
At this stage, the company hasn’t fully measured its greenhouse gas emissions for direct
or indirect emissions, nor indirect supply chain emissions, but plans to disclose this in future ESG reports.
The company said it will share its progress toward ESG disclosures in quarterly updates.
Orcoda shares were down 17.9 per cent, traded at 11.5 cents as of 12:05 pm AEDT.