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Technology & Data

ESG Reporting Tools Released Ahead of CSRD Deadline

The market for ESG reporting capabilities is growing rapidly, with new and enhanced products vying to help corporates improve disclosures as regulatory deadlines loom. US-based Certa has introduced generative AI capabilities to its platform for managing firms’ risk, compliance and ESG issues arising from third-party relationships. An upgrade uses AI to support intelligent workflow design and smart fills for questionnaires and assessments. It also includes plug-and-play ESG modules to support compliance with ESG-related reporting regulations such as the EU Corporate Sustainability Reporting Directive (CSRD), as well as Scope 1-3 climate disclosures. Meanwhile, Dutch information services provider Wolters Kluwer has expanded its CCH Tagetik ESG & Sustainability for Carbon Emissions solution to cover corporate reporting of direct and indirect carbon emissions. The product now embeds pre-configured, carbon data management capabilities based on the Greenhouse Gas Protocol to support accurate emissions tracking and accelerate compliance with relevant ESG regulations and standards. Separately, digital transformation specialist Experion Technologies has partnered with sustainability reporting platform ESG Playbook to develop “cutting-edge” solutions in the fields of sustainability, risk management, and regulatory compliance. The alliance aims to leverage Experion’s product-engineering expertise, consulting services, integration and testing capabilities to streamline clients’ ESG reporting processes and demonstrate clients’ commitment to responsible business practices. Less than a third (29%) of companies feel sufficiently confident in their ESG reporting to have it assured by third parties, according to KPMG’s annual ESG Assurance Maturity Index. Though slightly higher than the 25% reported nine months ago, the figure suggests a widespread unpreparedness for reporting under CSRD, which will require large firms to provide independently assured data by early 2025.

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