Workiva today announced it has extended its cloud platform capabilities to help companies meet the rapidly changing landscape of Environmental, Social and Governance (ESG) reporting with a fit-for-purpose, ESG solution.
The end-to-end solution allows businesses to keep pace with the demand from regulators, rating agencies, institutional investors, and other stakeholders for trusted, transparent data and proof of ESG forward-looking business goals.
“Workiva has years of experience solving complex business problems for the world’s largest organizations, including managing and reporting financial, non-financial and ESG data, and meeting changing regulations head on,” said Julie Iskow, chief operating officer of Workiva. “There is a powerful motivation for organizations to report ESG data alongside the balance sheet to provide a broader company valuation. Workiva is uniquely qualified to deliver innovative technology solutions that enable global organizations to make sense of the complex ESG ecosystem and achieve greater transparency and accountability.”
The ESG reporting process requires organizations to capture and manage data from many financial and non-financial data sources. The data must then be organized and mapped to multiple reporting standards from agencies such as the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), and the Task Force on Climate-related Financial Disclosures (TCFD), and disclosed to rating agencies and shareholders.
Workiva’s integrated ESG solution brings together teammates, datasets and data sources to deliver high-quality disclosures to important stakeholders. The ESG solution features the following integrated capabilities:
● Collect any data, from anywhere. Automate the collection of data and connect directly to source systems.
● Build an ESG strategy with any and all frameworks. Utilise any globally recognised ESG framework or use a proprietary company framework to compile data.
● Get audit-ready. Work in the same audit-ready environment as financial reporting teams to ensure ESG disclosures stand up to the highest level of scrutiny.
● Report with confidence. Consolidate and connect information across sustainability reports, surveys, statutory disclosures, annual reports, SEC filings, earnings call scripts, and more with accurate, consistent data.
● XBRL tagging. Achieve greater transparency and accountability with full eXtensible business reporting language (XBRL) and Inline XBRL capabilities.
“We expect that ESG will continue to evolve and further drive the adoption of our Workiva platform across our customers’ organizations,” added Iskow. “We will continue to develop innovative functionality and features that address the evolving ESG disclosure requirements of company stakeholders.”