The landscape of ESG (Environmental, Social, Governance) software is dynamic, but I can provide you with a general overview of software categories based on their features:
I. Basic ESG Software
– Sustainability Reporting Tools: Offer basic data collection and reporting capabilities for key ESG metrics.
– Carbon Footprint Calculators: Focus on measuring and managing carbon emissions.
Examples
1. Microsoft Excel or Google Sheets:
– Basic spreadsheet software can be used for simple data collection and reporting of ESG metrics.
2. SAS Sustainability Management:
– Provides capabilities for basic sustainability reporting, covering metrics such as energy consumption and emissions.
3. CSRware:
– Offers a platform for basic ESG data tracking and reporting, focusing on environmental aspects like carbon footprint.
4. Enablon (Wolters Kluwer):
– Provides solutions for basic ESG data management, including modules for sustainability reporting and compliance.
5. Greenstone:
– Offers a user-friendly platform for basic sustainability reporting and carbon accounting. These tools typically suit organizations in the early stages of ESG integration, helping them initiate tracking and reporting processes. As your ESG needs evolve, you might consider more advanced solutions for comprehensive analysis and strategic planning.
II. Medium-Level ESG Software:
– Integrated ESG Platforms: Provide more comprehensive solutions, integrating various ESG aspects into a single platform.
– ESG Risk Assessment Tools: Evaluate and manage risks associated with environmental, social, and governance factors.
1. MetricStream:
– An integrated governance, risk, and compliance platform that includes modules for ESG risk management and reporting.
2. Sphera (formerly thinkstep):
– Provides sustainability performance management solutions with a focus on integrating ESG metrics into business processes.
3. Diginex ESG Solutions:
– Offers a platform with modules for ESG data collection, reporting, and risk assessment, catering to medium-sized enterprises.
4. OneTrust:
– Known for its privacy and security solutions, OneTrust also includes modules for sustainability and ESG compliance.
5. Wdesk by Workiva:
– A cloud-based platform that supports data collection, collaboration, and reporting for various ESG aspects. These medium-level ESG software options typically offer more robust features compared to basic tools, supporting organizations with a growing need for comprehensive ESG management and reporting capabilities.
III. Advanced ESG Software:
– Predictive Analytics: Use advanced analytics to forecast ESG trends and assess future risks.
– AI-driven ESG Solutions: Leverage artificial intelligence for deep analysis and insights into ESG performance.
– Stakeholder Engagement Platforms: Facilitate communication and collaboration between companies and stakeholders regarding ESG initiatives.
1: Diligent
– Global leader providing SaaS solutions across ESG areas in risks and compliance.
– Focus on making businesses more equitable and sustainable.
2: S&P Global
– Provides data and technology for strong decision-making, including credit ratings and benchmarks.
– Launched Nature and biodiversity Risk dataset to assess nature-related impacts.
3: UL Solutions
– Headquarters: Illinois, United States
– Global leader in applied safety science with UL 360 ESG data management software.
– Recognized in Verdantix Green Quadrant and Gartner 2022 CFO Market Guide.
4: Navex
– Provides automated products for integrating ESG into organizational ethos.
– Offers solutions for responsible supply chain management, including greenhouse gas emissions calculation.
5: Workiva
– Cloud-based company offering tools for measuring, tracking, and reporting on performance.
– Integrates CDP into its platform to boost customer ESG programs.
6: SustainIQ
– Offers a central solution for sustainability and ESG reporting through a dashboard.
– Key Facts: 19% average decrease in CO2 emissions yearly, 11% average increase in sustainability initiatives across the supply chain, 156 hours of community initiatives annually, £30,000 donated annually to charitable causes per company.
7: MSCI Inc
– Provides support tools and services for the global investment community.
– Focus on climate investing, measuring and reporting on climate risk exposure, and implementing low-carbon fossil-fuel-free strategies.
8 : Sustainalytics (Morningstar)
– Provides high-quality ESG research, ratings, and data to institutional investors and companies.
– Key Facts: 700,000+ news items monitored daily, 20,000+ companies covered, 800+ research analysts, 1000+ clients, 1800+ team members.
– Recent accolades: ESG Research Firm of the Year in Global Capital’s EU Securitization Awards 2023.
– Suite of products for low carbon projections and resources on achieving Net Zero.
9: Kodiak Hub
– Mission: Power sustainable trade with user-friendly technology, focusing on Tech, Sourcing, Procurement Quality, and Sustainability.
– Industry ‘game changers’ providing traceable and transparent supply chains.
– Offers advisory resources including webinars on audits, studies, and trends. These advanced ESG software options often incorporate sophisticated analytics, AI-driven insights, and a broader range of features to cater to organizations with complex ESG needs and a focus on strategic planning. It’s important to evaluate these tools based on your specific organizational requirements and objectives.
Remember, the specific features and capabilities can vary among software within each category, and new tools are continually emerging in the ESG space. It’s advisable to research and evaluate based on your organization’s specific needs and goals.
