Companies require in-depth analysis and insights that reveal their location on the ESG landscape vis-a-vis peers and competitors to guide key decisions for their sustainability journey. However, too often, these efforts rely on ESG scores and rankings.

The report identifies the challenges associated with using broad ESG scores and rankings, including lack of standardization, lack of transparency, and industry and geographical bias. The report advocates for an insights-based approach to ESG assessments, which goes beyond scores and offers a comprehensive understanding of a company's ESG strategy. It emphasizes transparency, context specificity, a 360° perspective, and user control over peer groups and material issues. The insights-based approach enables better benchmarking, better decision-making, and alignment with industry best practices.

Overall, the report emphasizes the importance of moving beyond superficial snapshots provided by ESG scores and embracing deeper analysis to unlock valuable insights for effective ESG benchmarking.