Environmental, Social, and Governance (ESG) Software

Environmental, Social, and Governance (ESG) software refers to a specialized software solution that helps organizations manage and measure their environmental, social, and governance performance. It enables companies to track and report on key sustainability metrics, such as energy consumption, carbon emissions, waste management, employee diversity, community engagement, and ethical business practices.ESG software provides a comprehensive platform for companies to collect, analyze, and report data related to their environmental impact, social responsibility, and corporate governance practices. It allows organizations to identify areas of improvement, set targets, and monitor progress towards sustainable goals. By using ESG software, companies can enhance their transparency, credibility, and reputation in the eyes of stakeholders, including investors, customers, and employees.For example, a manufacturing company using ESG software can track and reduce its greenhouse gas emissions, ensuring compliance with environmental regulations and meeting investor expectations. Additionally, it can monitor employee diversity and engagement initiatives to promote a socially responsible work environment. Such software helps businesses align their operations with sustainable practices, drive positive change, and create long-term value.

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OneTrust

Verified

<p>OneTrust enables risk, compliance and audit professionals to identify, measure, and remediate risk across their business to comply with internal rules and external regulations. With OneTrust, companies can seamlessly integrate risk management into their day to day activities.</p> <p>OneTrust is a part of OneTrust, the #1 most widely used privacy, security and third-party risk platform used by more than 6,000 customers and powered by 100 awarded patents.</p> <p>OneTrust&rsquo;s team of 1,500 privacy, security and trust experts are co-headquartered in Atlanta and London, with additional offices in Bangalore, Melbourne, Seattle, San Francisco, New York, São Paulo, Munich, Paris, Hong Kong, and Bangkok.</p> <p>Backed and co-chaired by the founders of Manhattan Associates (NASDAQ: MANH) and AirWatch ($1.54B acq. by VMware), and supported by over $400 million funding from Insight Partners and Coatue, the OneTrust leadership team has significant experience building scalable, enterprise software platforms. OneTrust is also guided by an external advisory board of renowned privacy experts and an in-house global privacy and legal research team.</p> <p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>

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GreenWorks

GreenWorks is a leading provider of ESG (Environmental, Social, and Governance) software solutions. Their innovative platform offers a comprehensive suite of tools designed to track, manage, aggregate, validate, and database ESG activities within companies and their supply chains. With a user-friendly interface, GreenWorks ESG software simplifies and streamlines ESG data management and reporting processes. The company's system is utilized by businesses across various industries, including IT services and consulting. GreenWorks aims to help organizations navigate the complexities of ESG tracking and reporting, supporting them in implementing sustainable and responsible business practices.

Cority is a global enterprise Environmental, Health, and Safety (EHS) software provider that offers a range of innovative solutions. With over 35 years of experience, Cority empowers organizations to transform the way they work by providing award-winning EHS and OHS software. Their robust software solutions enable companies to ensure data accuracy and auditability, particularly in the context of sustainability and ESG reporting. Cority's SaaS-based ESG software solution offers visibility across the entire investment lifecycle, aiding in due diligence of funds and assets, portfolio management, and comprehensive ESG reporting. Their services are trusted by over 1,400 global organizations seeking efficient and reliable EHS and sustainability management solutions.

Assent is a leading company specializing in supply chain sustainability management solutions. They offer a comprehensive platform that supports manufacturers in achieving their Environmental, Social, and Governance (ESG) goals. Assent's software provides deep visibility into supply chains, allowing manufacturers to collect, manage, and analyze data for sustainability reporting and improvement. With their expertise in compliance and ESG programs, Assent acts as a valuable partner for businesses seeking to enhance their sustainability practices. They cater to complex manufacturers who prioritize supply chain sustainability, ESG compliance, and the collection of reliable data to drive operational improvements. Assent's solutions are trusted by a diverse range of industries to streamline supply chain processes and improve their ESG rankings.

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VelocityEHS

VelocityEHS is a prominent software and solutions provider specializing in Environmental, Social, and Governance (ESG) and Environmental Health and Safety (EHS). Their AI-powered software offers comprehensive solutions for streamlining processes and reducing costs, making it an essential tool for global enterprises. The company caters to businesses of all sizes, bringing cutting-edge technology and intelligent automation to simplify ESG and EHS management. With a rich set of features, the VelocityEHS Accelerate® Platform empowers organizations to transform their EHS and ESG practices, meet regulatory requirements, and drive sustainability initiatives. Their services appeal to a wide range of industries seeking to enhance their ESG performance and ensure compliance with EHS standards.

Sedex is a leading sustainability company that offers technology, data insights, and services to help businesses build socially and environmentally sustainable supply chains. They provide solutions that enable companies to understand and track their performance in various environmental, social, and governance (ESG) areas. Sedex offers tools for improving sustainability performance, managing ESG risks, complying with regulations, and seamless reporting. Their platform simplifies the process of managing environmental and social responsibilities, making it easier for businesses to continuously enhance their ESG practices. Sedex is trusted by companies across various industries to support responsible and sustainable business practices.

Osano is a leading data privacy platform that offers intuitive solutions for simplifying compliance. Their comprehensive software helps organizations build, manage, and scale their privacy programs, ensuring compliance with regulations such as GDPR and CPRA. Osano's user-friendly interface, easy setup, and administration have received positive reviews from users, making it a preferred choice among businesses. They provide data mapping software that connects to your Single Sign-On (SSO) provider to automatically identify the systems used for processing personally identifiable information (PI). Osano's services cater to a wide range of industries and businesses of all sizes, enabling them to navigate complex data privacy laws effectively. Their commitment to privacy as a fundamental human right sets them apart, making Osano an invaluable ally for businesses seeking to establish trust and compliance.

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measurabl

Measurabl is a leading ESG (Environmental, Social, Governance) platform for the real estate industry. As the world's most widely adopted ESG data management solution, Measurabl provides investment-grade sustainability data for corporate disclosure and transparency. The platform enables customers to effectively manage and analyze ESG performance, making it easier to track and improve sustainability initiatives. Measurabl's user-friendly interface allows users to skip the tedious process of data-crunching and instead focus on implementing meaningful improvements. The company's technology-driven approach to ESG management has gained recognition and trust from companies of all sizes and levels of ESG maturity. Asset managers, real estate professionals, and corporate entities in the real estate industry rely on Measurabl's comprehensive suite of services to measure, monitor, and report on their ESG performance. With its robust features and industry-wide acceptance, Measurabl plays a crucial role in driving the adoption of sustainable practices and promoting transparency in the real estate sector.

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Auditboard

Verified

<p>AuditBoard is the leading cloud-based platform transforming audit, risk, and compliance&nbsp;<br /> management. More than 35% of the Fortune 500 leverage AuditBoard to move their&nbsp;<br /> businesses forward with greater clarity and agility. AuditBoard is top-rated by customers&nbsp;<br /> on G2, Capterra, and Gartner Peer Insights, and was recently ranked for the third year&nbsp;<br /> in a row as one of the fastest-growing technology companies in North America by Deloitte.</p>

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Datamaran

Datamaran is a leading software analytics platform that specializes in data-driven materiality, ESG strategy, and risk management. Trusted by blue-chip companies, Datamaran is known for its unique ability to identify and monitor external risks, including ESG (Environmental, Social, and Governance) factors. It offers a comprehensive ESG software solution that enables companies to efficiently integrate sustainability into their processes, ensuring a seamless transition from project to process. Datamaran's fully automated software solution empowers organizations to identify and monitor material ESG risks and opportunities, providing real-time analytics and insights. With a strong track record and a global client base, Datamaran is a preferred choice for companies seeking to take ownership of their ESG objectives and drive sustainable growth.

ESG Made Easy: Your Ultimate Buyer's Guide to Sustainability Software

Are you looking for reliable ESG software to meet your sustainability goals? Our comprehensive buyer's guide can help you make an informed decision. From environmental impact measurement to social governance tools, we've got you covered.

Whether you're a small startup or a large corporation, incorporating ESG principles into your business operations is no longer just a trend but a necessity. Customers are increasingly demanding transparency and accountability from their suppliers, employees are demanding a better working environment, and investors are demanding that companies create long-term value while minimizing risks. Thus, integrating ESG factors into your business practices is more important now than ever before. However, with a wide range of ESG software vendors in the market claiming to offer the best solution, choosing the right one can be a daunting task. This guide aims to provide you with valuable insights into choosing the best tool for your business requirements.

What isenvironment, social, and governance(ESG)software?

This is a tool that helps companies manage their environmental, social, and governance risks and opportunities in a more sustainable and responsible way. This type of software allows companies to gather, analyze, and report on ESG data and metrics, which can be used to inform business decisions, improve performance, and enhance transparency and accountability. Deloitte, a leading professional services consultancy, recently conducted an on-line survey of 300 large public companies across industry sectors that indicated 80% have dedicated roles and responsibilities involving ESG and nearly all (99%) respondents planned to invest in more ESG disclosure focused-technology toolsand resources
within a year.


This technology is becoming increasingly popular among companies of all sizes and industries as sustainability and responsible business practices become more important to stakeholders, including investors, customers, employees, and regulators. Some of its common use cases include:

  • ESG data collection and reporting: The system can help companies gather and report on ESG data, metrics, and disclosures, including carbon emissions, energy consumption, water usage, waste management, labor practices, and diversity and inclusion.
  • Risk management: It can help companies identify and manage ESG risks, such as climate change, human rights violations, supply chain issues, and regulatory compliance. Statistics show that over 60% of companies using ESG software reported enhanced risk management capabilities.
  • Performance monitoring and benchmarking: An ESG tool can help companies track and analyze their ESG performance over time, compare their performance to industry peers and best practices, and set targets and goals to improve their performance.
  • Investor engagement and transparency: It can also help companies communicate their ESG performance and initiatives to investors, respond to investor requests and inquiries, and enhance transparency and accountability.

Types of companies that use ESG technology vary widely but include companies in industries such as:

  • Energy and utilities
  • Finance and insurance
  • Manufacturing and industrial
  • Retail and consumer goods
  • Technology and software

What are the benefits of an environment, social, and governance tool?

ESG solutions have emerged as a valuable tool for businesses to measure their environmental and social impact, as well as their governance practices. It has become imperative for businesses to prioritize their ESG performance as it has a direct bearing on their market success and longevity. Here are some key benefits of this technology that businesses cannot afford to ignore:

  • Improved risk management: This tool can help businesses monitor and manage environmental, social, and governance risks, resulting in more efficient and sustainable operations. By identifying potential risks, businesses can address them before they escalate and cause significant harm to their reputation and financial health.
  • Enhanced corporate reputation: Strong ESG performance can improve a company's reputation and brand value, attracting investors, customers, and top talent who want to associate themselves with socially responsible companies. This program can help businesses track and report their sustainability efforts and communicate their progress to stakeholders.
  • Better decision making: By providing insights and data on ESG performance, organizations can make informed decisions that align with their sustainability goals. The software can facilitate data-driven decision-making by tracking key performance metrics, identifying opportunities for improvement, and providing actionable insights to management.
  • Increased efficiency and cost savings: Itcan help organizations streamline their operations, reduce waste and energy consumption, and cut costs associated with non-compliance, fines, and litigation. This can result in significant cost savings and improved profitability.
  • Regulatory compliance: The platform can help businesses comply with a variety of regulatory requirements related to environmental, social, and governance issues, reducing the risk of non-compliance penalties and legal liabilities.

10 key features of an environment, social, and governance system

ESG technology has become an increasingly important tool for companies looking to align their business practices with sustainable and responsible values. Below are 10 common features that make this platform such a valuable resource for businesses of all sizes and across a range of industries:

1. Data aggregation: It collects and analyzes data from a variety of sources, including financial reports, regulatory filings, and third-party databases. This data is then synthesized and presented in a way that allows businesses to identify key areas where they can improve their ESG performance.

2. Customizable dashboards: It also provides businesses with customizable dashboards that display relevant ESG metrics at a glance. This allows businesses to track their progress over time and quickly identify areas where they need to focus their resources.

3. Scenario analysis: The software allows businesses to model various scenarios and assess how different factors will impact their ESG performance. This enables businesses to make informed decisions that take into account the potential long-term impacts of their actions.

4. Benchmarking: An ESG program provides businesses with benchmarking tools that allow them to compare their ESG performance to industry peers and best-in-class performers. This helps businesses to identify areas where they can improve their ESG performance relative to their peers.

5. Risk assessment: It provides businesses with tools to assess their exposure to ESG risks. This includes environmental risks such as climate change, social risks such as labor practices, and governance risks such as board diversity.

6. Reporting: ESG solutions provide businesses with standardized reporting templates that enable them to report their ESG performance to investors, regulators, and other stakeholders. This helps businesses to comply with mandatory reporting requirements and demonstrate their commitment to responsible business practices.

7. Collaboration tools: The package provides businesses with collaboration tools that enable them to share ESG data and insights with internal and external stakeholders. This helps to build trust and transparency with investors, customers, and other key stakeholders.

8. Materiality analysis: It provides businesses with tools to assess the materiality of ESG issues. This enables businesses to prioritize their ESG efforts and ensure that they are focusing on the issues that are most important to their stakeholders.

9. Active ownership: The solution provides businesses with tools to engage with portfolio companies and encourage them to improve their ESG performance. This can include proxy voting, shareholder resolutions, and direct engagement with company management.

10. Tracking and monitoring: ESG software provides businesses with tools to track and monitor their ESG performance over time. This allows businesses to identify trends and patterns and make informed decisions about how best to allocate resources to improve ESG performance.

Key considerations when adopting an ESG platform

There are so many comprehensive solution options on the market, and it's important for organizations to carefully consider their needs and priorities before making a purchase. Here are some factors to consider:

1. Identify your ESG goals - Before investing in such a tool, companies should first clarify their objectives and goals. What specific ESG factors are most important to your organization? Are you seeking to reduce your carbon footprint, improve labor practices, or enhance diversity and inclusion? By defining your priorities at the outset, you can select a solution that is best suited to your unique needs.

2. Evaluate the software features - The platform can offer a wide range of functionality, from automating data collection and analysis to generating reports and identifying ESG risks. It's important to carefully review the features offered by each potential solution and assess which ones are most relevant to your goals. Additionally, consider factors such as ease-of-use, scalability, and integration with other software systems.

3. Look for data accuracy and reliability - Accurate data is critical to effective ESG management. Therefore, it's important to evaluate the reliability and accuracy of the data sources used by the app. Look for solutions that rely on trusted, reputable sources and have robust data validation processes in place.

4. Consider customization and flexibility - As companies' ESG goals and strategies evolve, their solution needs may also change, therefore, it's important to select a system that is customizable and flexible, allowing for updates and modifications over time. This will enable you to stay aligned with evolving best practices and emerging ESG risks.

5. Check for industry-specific functionality - Depending on your industry and the nature of your operations, you may need an ESG platform that includes specific functionality tailored to your sector. For example, a manufacturing company may require software that can track and manage emissions data, while a financial services firm may need solutions that focus on risk management and compliance.

Trends for environment, social, and governance technology

ESG initiatives are rapidly gaining traction across industries, and software solutions have emerged as vital tools to help track and report progress on these efforts. Here are some of the biggest trends to watch out for in this landscape:

1. ESG data management: This is the foundation of ESG reporting. Software solutions for ESG data management help companies track ESG data across a range of metrics, including carbon emissions, social responsibility, and governance. In addition, they help automate report generation and data visualization, thereby streamlining the reporting process.

2. Sustainable supply chain management: Consumers and investors are increasingly placing a premium on companies that operate with sustainable supply chain practices. ESG software solutions can help companies accurately track their suppliers' sustainability metrics and calculate the overall impact of their supply chains, thereby enabling them to enforce strict sustainability mandates.

3. ESG risk management: ESG-related events like climate change and workforce diversity are becoming material risks to companies across all sectors. ESG risk management solutions assist companies in identifying risks related to their ESG practices and help implement processes to manage and mitigate these risks.

4. ESG engagement management: ESG reporting is a two-way street, and it involves engaging stakeholders across the organization. ESG engagement management tools help companies communicate their ESG initiatives and progress, and enable stakeholders to ask questions, provide feedback, and contribute to sustainability efforts.

Conclusion

As we move forward, the importance of ESG will only continue to grow. Businesses that proactively embrace ESG software will be better positioned to navigate the complexities of sustainable development and drive long-term value creation. By integrating ESG considerations into their core strategies, companies can contribute to a more sustainable and equitable world, ensuring their success and relevance in the years to come.