The Sustainability Index: ESG Reporting Software
ESG reporting has evolved into a vital component of modern business strategy, enabling companies to showcase their dedication to sustainability and responsible governance.
With stakeholders increasingly prioritising ESG factors in decision-making, organisations now recognise the critical importance of transparent and comprehensive ESG disclosures.
The ESG reporting software market is experiencing significant growth, projected to expand from US$1.3bn in 2023 to more than US$5.6bn by 2029, according to a new global report by Verdantix.
This remarkable expansion is driven by increasingly stringent regulations and mounting pressure from investors and stakeholders for transparent, auditable sustainability data.
Industries with complex supply chains, such as manufacturing and retail, are leading the increase in ESG reporting software adoption, Verdantix reports.
Workday
Founded in 2005 and headquartered in Pleasanton, California, Workday employs more than 17,000 people and offers cloud-based financial management and human capital management software.
The company’s portfolio includes comprehensive ESG solutions including social reporting, supplier risk and sustainability tracking and emissions reduction strategy tools.
Its platform enables companies to plan, track and report on workforce and supplier-related risk and sustainability information efficiently.
IBM
IBM, founded in 1911 and based in Armonk, New York, has more than 350,000 employees worldwide.
Known for its broad range of technology solutions, IBM's ESG reporting capabilities are part of its larger sustainability offerings.
The Envizi ESG Suite is a comprehensive platform for carbon accounting, ESG reporting and decarbonisation.
Its AI-powered capabilities, ability to leverage multiple data sources and its modular design that simplifies adoption helps organisations accurately measure emissions streamline reporting and track progress towards sustainability targets.
Workiva
Established in 2008 and headquartered in Ames, Iowa, Workiva portfolio includes a cloud-based platform for financial reporting and compliance.
The platform curates topics and metrics from various sources, aligns with multiple ESG frameworks and ensures audit-ready disclosures.
It offers complete audit trails, data lineage and transparency throughout the reporting process.
Microsoft
One of the world’s best known technology companies, Microsoft was founded in 1975 amd is based in Redmond, Washington. It employs more than 180,000 people.
Its Sustainability Cloud includes Project ESG Reporting, a tool designed to streamline the ESG reporting process.
Its multi-framework capabilities, integration with Microsoft's Sustainability Manager and features like data trail capabilities and alternate emissions calculations support a wide range of ESG standards and frameworks, simplifying complex reporting requirements.
Diligent
Founded in 1994 and headquartered in New York City, Diligent has more than 1,000 employees.
It offers governance, risk and compliance software solutions including data management, reporting and analytics, risk management and compliance tracking.
Its platform supports various aspects of ESG management, from carbon footprint calculation to social impact tracking and governance monitoring.
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