The software helps business to visualise ESG data models using game-like graphics
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Spotted: Investors are increasingly looking at environmental, social and governance (ESG) factors in their analysis of where to put their money. This means that businesses too need to pay attention to ESG in their business. But this is not as easy as it sounds. Depending on the field, determining the impact of ESG factors on a business can be a huge task, involving a lot of data. Managing all of this is the goal of Actual, a video game-like platform designed to render all this data in a manageable interface.
Actual was founded by colleagues from LinkedIn and Airbus. The platform combines urban planning, game design, and data visualisation to help companies model their environmental, social and governance plans. The startup describes its platform as ‘model first’ and focuses on helping customers plug data into a model that also incorporates the underlying science and engineering needed for ESG improvement, such as ensuring a low-carbon supply chain.
Users begin by inputting their basic ESG goals. Actual turns these goals into models that make it easier to understand the impact of different choices – such as a change in energy sources or investment in clean tech. Actual says the use of tactile models and a game-inspired interface makes it easier for users to explore the different models and options.
Actual’s co-founder and President Karthik Balakrishnan explained the importance of focusing on ESG, saying, “We are at a point where companies who do not mobilise their pledges of corporate and social responsibility are falling behind… Actual is designed to help enterprises rapidly model and implement the various ESG scenarios that will update their existing operations to meet regulations, without delay.”
The emphasis on ESG has generated a new space in SaaS – platforms to track ESG data. Springwise has already covered a number of companies moving into this area. Innovations include a platform that updates the ESG status of companies in real time and a scoring system that helps consumers gauge which products are most sustainable.
Written By: Lisa Magloff