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December 28, 2023

What is Fast Track ESG?

What is Fast Track ESG? Well...it’s quite complicated.  

Your company needs money, or in other words, capital. Most companies have several ways of making money. One of the primary ways that companies do this is by selling products and making a profit. Another way is by having others give them money, expecting money in return. These people are called investors. Investors, if they are wise and want to invest in your company, are going to want to know in-depth information on the inner workings of your company's operations and strategies.  

Let’s Talk About ESG 

ESG, or Environmental, Social, and Governance, refers to the three key factors that measure the sustainability and ethical impact of an investment in a company or business. In recent years, there has been a growing emphasis on ESG criteria as investors become more socially conscious and aware of environmental issues. 

Investors are always on the lookout for new and emerging investment opportunities. However, nowadays, their interest is not only limited to high returns but also focuses on investing in companies with a strong environmental, social, and governance (ESG) profile. 

In the past few years, there has been a significant shift in investors' attitudes towards ESG investing. This change can be attributed to various factors, such as increasing awareness about climate change and sustainability, stricter regulations concerning ESG reporting, and the growing influence of socially responsible investors. 

But why are investors suddenly interested in ESG? Is it because they have developed a love for the planet? Or is it a new marketing gimmick to attract potential investors? Well, the answer is neither. Let's dig a little deeper into the reasons behind investors' growing interest in ESG. 

First and foremost, investing in companies with strong ESG practices can actually be financially beneficial. Numerous studies have shown that companies with high ESG ratings tend to perform better financially in the long run. This is not surprising as companies that focus on sustainability are more likely to have efficient operations, lower risk exposure, and attract top talent. In other words, investing in ESG companies is not only morally sound but also financially savvy. 

Get on the Fast Track 

So ESG is great! Right? Aside from one thing...it moves a little slow. That’s where Fast Track ESG comes in.  

Fast Track ESG takes this concept a step further by providing an accelerated approach to incorporating ESG factors into investment decisions. It involves the use of advanced technologies, data analytics, and specialized tools to quickly analyze and assess a company's ESG performance. 

There are several reasons why companies may opt for Fast Track ESG. One of the main motivations is to stay ahead of regulatory requirements and avoid potential penalties or negative public perception. 

In addition, implementing ESG practices can also bring financial benefits such as cost savings through improved efficiency and reduced risks. It can also attract socially responsible investors and consumers who are increasingly looking to support companies with strong ESG values. 

How Companies are Implementing Fast Track ESG 

There is no one-size-fits-all approach when it comes to Fast Track ESG. Each company's strategy will depend on its specific needs and goals. However, there are some common practices that many companies are adopting. 

One way is through technology and data analytics. By utilizing technology, companies can track their ESG performance, identify areas for improvement, and implement changes in a timely manner. This can also help with transparency and reporting to stakeholders. 

Another strategy is through partnerships and collaborations. Companies may team up with NGOs or other organizations to address social or environmental issues in a more effective and efficient way. 

So, the bottom line is: If you want to accomplish your ESG goals quickly, you gotta get into the data! 

If You Can’t Measure It, You Can’t Manage It 

Now that we understand how Fast Track ESG works, and that it’s primarily data driven, how does it work in a real-life scenario? 

Let us give you an example of how Smart Rain puts companies on the fast-track to their ESG goals through data tracking.  

Several companies are simply failing when it comes to irrigation. Irrigation isn’t something that companies typically think about. They also don’t typically budget for it. But if you have ESG goals that you are trying to accomplish, this could be a grave mistake. Most conventional irrigation systems waste about 50% of your irrigated water. This isn’t only costing you money, but it’s wasting one of the most valuable resources that humans have: water. And water waste goes completely contrary to ESG guidelines and standards.  

But you never would have known any of this, unless you were collecting the data and analyzing the data. There aren’t many points on your system that you can actually manage water use data other than your water bill. Maybe your irrigation clock/controller can give you some, but (as Smart Rain knows) the state of conventional technology for commercial irrigation isn’t quite up to par (with Smart Rain). You’re stuck with few data points, and less control over your irrigation. Your ability to manage your irrigation is going to be tied directly to how much data you can gather.  

Smart Rain

A Smart Rain system would be your perfect irrigation solution, putting you on the fast-track to your ESG goals. To start with, Smart Rain will monitor water usage, soil moisture levels, and will also monitor water that is leaving your soil and plants through the natural process of evapotranspiration.  

Quick note: Most companies reduce their water usage by 30% in the first year. Also, they see an ROI in the first year as well. A Smart Rain system pays for itself. 

With a Smart Rain system, you’ll see all your system updates from the Smart Rain app. Our SmartController uses the data that is collected from your property to automatically skip cycles when needed. It uses hundreds of national weather reports to get the most accurate weather data available. And if you decide that you need to skip an irrigation cycle, you just open up the Smart Rain app, and you change your watering schedule. It’s that easy.  

As you can see, a Smart Rain smart irrigation system is certainly a great way to quickly accomplish your ESG goals. That’s what investors are looking for. They don’t want to see empty goals and promises, they want to see results. Many investors have reached the realization that it’s time for companies to make a change. Investors no longer want to sit on the sidelines, cheering on the change-makers, but they want to fund the change-makers. Investors want to put their money behind companies that will make a difference.  

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