IBM Adds CSRD Sustainability Reporting Capabilities to ESG Data Platform
IBM announced that it has expanded the capabilities of its ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. data collection, analysis and reporting platform IBM Envizi, with features in the platform’s ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Reporting Frameworks module aimed at helping organizations meet the reporting requirements of the EU’s Corporate Sustainability Reporting Directive (CSRD).
The CSRD, which began applying to some companies as of the beginning of 2024, will significantly expand the number of companies required to provide sustainability disclosures to over 50,000 from around 12,000 currently, and introduce more detailed reporting requirements on company impacts on the environment, human rights and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. standards and sustainability-related risk.
The CSRD mandates disclosure based on the European Sustainability Reporting Standards (ESRS), which set out the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks, requiring companies to collect and analyze thousands of data points across the value chain.
According to IBM, with the new capabilities, the Envizi suite now embeds ESRS questions in its software, enabling questions and answers to be viewed and managed with response workflow tools, role-based access, collaboration tools and approval controls. The solution automates collection and management of thousands of data types to support ESRS environmentalEnvironmental criteria consider how a company performs as a steward of nature. disclosures, and enables qualitative socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. and governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. responses to be formatted and aggregated to ESRS requirements, and allows report-ready data to be extracted and reported in various formats. The tool also facilitates audit trails and the ability to provide third-party access, and enables cross referencing of questions from other frameworks and leveraging of historical responses.
In a post announcing the new capabilities, Kendra DeKeyrel, VP, ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. & Asset Management Products Leader at IBM, said:
“As ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. data management and reporting become more pervasive throughout organizations, tools need to be more specialized, comprehensive and scalable. IBM Envizi offers support for customers through their entire sustainability journey, from ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. data capture, to and reporting to performance improvement.”
IBM acquired Envizi in 2022, as part of its efforts to enhance its AI-powered ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. solutions capabilities.
