Tech Vendors Target Enterprise ESG Reporting
Environmental, social, and governance (ESG) reporting is hitting the mainstream, as two massive tech distributors this week have introduced efforts to assist enterprise organizations handle their efforts with regard to this main development.
ServiceNow has announced
a brand new built-in ESG answer, powered by its Now digital workflow platform. The know-how is designed to assist corporations work on methods from enhancing range and inclusion to lowering carbon emissions to enabling enterprise resilience, throughout the enterprise. ServiceNow has additionally announced the expansion of its alliance relationship with KPMG to ship ESG-focused options and providers. Separately, Google Cloud this week launched Carbon Footprint, a brand new product that offers prospects a view of the gross carbon emissions related to their Google Cloud Platform utilization.
The bulletins come at a time when enterprises are working to enhance their ESG initiatives and reporting. Investors, workers, and prospects are these efforts to assist differentiate who they wish to put money into, work for, and purchase from in right this moment’s market.
Governments are additionally contemplating the creation of legal guidelines and laws round ESG reporting and requirements for private and non-private corporations. For occasion, the US House of Representatives passed
an ESG reporting invoice over the summer season that will apply to public corporations. Separately, the US Securities and Exchange Commission has indicated that ESG disclosure regulation will probably be a central focus of the brand new SEC Chair.
Gartner reported
that organizations are rating regulatory danger associated to ESG disclosures increased — it reached the second place on Gartner’s rankings in its Emerging Risks Monitor Report primarily based on a survey of 153 senior executives within the second quarter of 2021.
“The survey data partly reflects a global inflection point as ESG disclosures move from voluntary to required,” mentioned Matt Shinkman, VP with the Gartner Risk and Audit Practice.
It’s on this surroundings that Google and ServiceNow made their current bulletins, designed to assist organizations with their reporting.
“Sustainability is top of mind for every CEO and board,” Jen Bennett, Google’s lead for knowledge and know-how technique for sustainability within the workplace of the CTO, instructed members of the media throughout a convention name.
Carbon Footprint is out there now to each Google Cloud Platform consumer totally free within the Cloud Console, in response to a blog post by Google’s Chris Talbott and Joel Conkling. The software helps organizations measure, monitor, and report on the gross carbon emissions related to the electrical energy of their cloud utilization.
“With growing requirements for Environmental Social and Governance reporting, companies are looking for was to show their employees, boards, and customers their progress against climate targets,” Talbott and Conkling wrote within the submit. “Using Carbon Footprint, you have access to the gross energy related emissions data you need for internal carbon inventories and external carbon disclosures with one click.”
Google mentioned the software was in-built collaboration with prospects together with Atos, Etsy, L’Oreal, Salesforce, Thoughtworks, and Twitter. The calculation methodology is revealed to offer transparency to auditors and reporting groups.
ServiceNow mentioned its new ESG answer “serves as an operational control tower to help convert companies’ ESG goals into reality by providing visibility and transparency across their ESG programs and initiatives and helping them strategize, manage, govern, and report on these efforts on a single platform.”
Components of the ServiceNow answer embrace ESG administration and reporting, mission and portfolio administration, and built-in danger administration instruments.
“In order for ESG initiatives to be effective, companies must have a complete view of their ESG efforts and performance to know how they are tracking towards their goals,” mentioned Kim Knickle, analysis director at analysis and advisory agency Verdantix. “We expect ServiceNow’s new ESG solution will leverage the company’s existing platform to better enable this visibility.”
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