Built on Enablon technology, the solution offers a centralized repository for tracking organizations’ environmental, social and governance (ESG) data and strategies
Incorporates leading industry standards and frameworks against which to align and report ESG metrics
EY and Wolters Kluwer’s Enablon, a global leader in integrated risk, operational risk and environmental, health and safety (EHS) management software, today announce an ESG management and reporting solution built on the Enablon cloud software platform to help provide organizations with end-to-end management and reporting of ESG data.
Businesses are prioritizing ESG strategies in large part due to increased investor focus on nonfinancial factors. According to the EY Climate Change and Sustainability Services (CCaSS) Fifth Global Institutional Investor Survey, 72% of investors surveyed say they conduct a structured and formal review of businesses’ ESG disclosures. In today’s fractured landscape with various disclosure frameworks available, organizations are looking for resources to guide them through their ESG reporting journey.
The ESG management and reporting solution provides organizations with management and reporting capabilities in alignment with a variety of the most relevant standards and frameworks. Leveraging the Enablon platform and EY teams’ ESG knowledge, organizations can manage, track and report ESG data and strategies in one centralized tool.
Veli Ivanova, EY Americas Climate Change and Sustainability Services Leader and Enablon Alliance Sponsor, says:
“Increased investor and regulatory focus on ESG performance and various ESG disclosures demands action. EY clients, across all sectors, are recognizing the need for reliable systems to effectively manage and report this data. With Enablon’s innovative cloud platform, EY teams can provide a broad solution complete with the latest industry frameworks and standards to assist clients through the ESG reporting process, help manage sustainability risk and provide relevant insights to internal and external stakeholders.”
The solution covers three key areas:
- Enhanced disclosures content: The solution contains updated indicators aligned to the latest frameworks, such as Sustainability Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD) and United Nations (UN) Sustainable Development Goals (SDGs). It allows for defining and tracking client-specific corporate goals and key performance indicators (KPIs).
- Climate risk: The solution is configured with a climate risk management module that uses industry-standard analysis methodologies to assess, manage and report risk in alignment with the TCFD.
- Integrated leading ESG practices: The solution is equipped with traditional ESG management tools like integrated materiality assessment capabilities, issues tracking and stakeholder engagement, as well as improved user experience and enhanced reporting. It also provides advanced ESG management from a continuous improvement perspective, allowing clients to identify themes, understand relationships and interdependencies, and track progress against goals.
Noelle Harvey, Senior Director Product Management, Enablon, says:
“Enablon helps create a responsible, productive and safe world. We are committed to providing advanced technologies to help organizations align to investor ESG reporting demands, efficiently and transparently. Through our work with EY teams, clients have the capability to better manage today’s ESG management and reporting requirements and are poised to adapt to quickly evolving ESG requirements and frameworks.”