Identify Improvement Opportunities, Learn from Others, and Stay Competitive
Benchmarking provides a foundational basis for target setting, metrics and analytics, prioritization and decision making, and ongoing assessment of progress and outcomes. Using effective industry benchmarks, organizations can better understand their competitive position when it comes to ESG initiatives, align their strategic goals in the context of industry standards and best practices, and assess their market position in the eyes of key stakeholders including customers, suppliers, employees, and regulatory bodies. Benchmarking can clearly identify areas for greatest improvement and help companies position themselves most effectively in terms of ESG reporting, stakeholder engagement, and internal strategic planning.
Canopy Edge Engagement Framework: Industry Benchmarking
Initiate
- Define scope and objectives
- Establish benchmarking criteria and methodology
- Engage stakeholders
- Data collection plan
Process
- Data collection and validation
- Data analytics
- Documentation of process
- Extraction of insights
Outcome
- Comprehensive benchmarking report
- Actionable recommendations
- Executive presentation
- Improve strategic planning