FinanceESGJune 04, 2024

Wolters Kluwer expands CCH Tagetik ESG & Sustainability solution to include carbon emission reporting requirements

CCH Tagetik ESG & Sustainability for Carbon Emissions enables advanced data management of Scope 1, 2 and 3 emissions

Wolters Kluwer, a global leader in information, software, and services for professionals, today announced that it has launched CCH Tagetik ESG & Sustainability for Carbon Emissions. This new solution supports companies seeking to report and disclose direct and indirect carbon emissions including Scope 3 emissions and align with the Corporate Sustainability Reporting Directive (CSRD).

The new carbon emissions reporting solution enhances CCH Tagetik’s ESG and sustainability customer offering. The product now embeds pre-configured, carbon data management capabilities based on the GHG protocol, the world's most widely used greenhouse gas accounting standards and guidance1. This solution will support finance leaders in their efforts to track emissions accurately and accelerate compliance with relevant ESG regulations and standards.

Ralf Gärtner, Senior Vice President and General Manager of Corporate Performance & ESG, Wolters Kluwer, said: “Companies are seeking transformative technologies to enable them to meet growing ESG reporting needs and prepare for future requirements. Our new solution demonstrates our commitment to innovating to support finance leaders in managing disparate, non-financial data with the same rigor as applied to financial data. By expanding the core capabilities of financial consolidation and reporting, CCH Tagetik enables CFOs to accelerate core financial processes while automating close adjacent ones, including ESG, tax and regulatory reporting.”

Key features of the new solution include:

  • End-to-end regulatory coverage with carbon emissions data automatically feeding into CSRD, International Financial Reporting Standards (IFRS), Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) output reports.
  • Pre-configured data model to ingest data from multiple internal and external data sources.
  • Emission factors with pre-loaded and extensible library to speed up configuration and increase accuracy.
  • Pre-configured greenhouse gas (GHG) calculation logics for Scope 1, 2 and 3 emissions.
  • Dashboard and data visualization capabilities for comprehensive insights.
  • AI-powered intelligent narrative reporting experience that streamlines disclosure management.

In line with its ongoing commitment to innovation and leadership in ESG and sustainability, CCH Tagetik hosted a Sustainable Business Think Tank at its CCH Tagetik inTouch industry event in Lucca, Italy, last week. The Sustainable Business Think Tank brought together leading ESG experts, academics and organizations to discuss emerging trends in sustainability reporting and strategic opportunities for driving sustainable progress.

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About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

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