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Convene ESG is a sustainability software that helps businesses collect and govern data to digitize ESG reporting workflows. Administrators can gain insights into energy consumption goals, benchmarks against peers and more on a uni...Read more about Convene ESG
EHS Management Software
EHS Management Software
Enablon is a cloud-based environment, health and safety (EHS) management solution that helps organizations track the use of natural resources. Enablon allows users to create action plans and ensure proper follow-ups with bui...Read more about EHS Management Software
Wdesk is a cloud-based compliance reporting and management solution for midsize and large companies. It offers team management, project management, data management, collaboration and data-integration functionalities within a suite...Read more about Wdesk
Locus ESG & Sustainability
Locus ESG & Sustainability
Locus ESG & Sustainability is designed to help businesses across various verticals including mining, transportation, chemical, pharmaceutical and more handle compliance tracking, data collection and sustainability management opera...Read more about Locus ESG & Sustainability
NAVEX ESG is a cloud-based Environmental, Social and Governance platform with which you can manage multiple sustainability efforts, including conflict minerals management, environmental sustainability management and responsible su...Read more about NAVEX ESG
Novisto is a data collection, processing, and reporting ERP platform for sustainability management. It is used by businesses to meet environmental, social, and governance (ESG) commitments. ESG concerns are a growing concern for c...Read more about Novisto
OneTrust is a whistleblowing solution designed to help HR, ethics and legal teams manage code of conduct and compliance programs on a unified interface. The platform allows informants to anonymously report unethical or illegal inc...Read more about OneTrust
Cority offers a cloud-based, enterprise quality management and compliance software solution for midsize to large global manufacturers. It is suitable for manufacturers that operate in industries such as automotive, aerospace and d...Read more about Cority
Your company's Sustainability Profile allows your company to increase employee productivity, retention of customers, business partner loyalty, and to ensure better access to finance. Does your company face challenges with impleme...Read more about SmartHead
Intelligent analytics, dashboard, and reporting software for sustainability, corporate social responsibility (CSR), and environmental social governance (ESG). Over 300+ organizations around the world trust Brightest to track and i...Read more about Brightest
Impact is a cloud-based an all-in-one social value platform that helps organizations monitor, measure, and visualize data from social initiatives. In one centralized interface, users can easily capture organization social value da...Read more about Impact
Metrio, a Nasdaq company, is one of the leading sustainability software providers on the market. Since 2009, the company’s reporting solutions have helped organizations like Air Canada, Clorox, Decathlon and Target more easily col...Read more about Metrio
Emex EHS & ESG Software
Emex EHS & ESG Software
Our industry-leading end-to-end solutions for ESG and EHS data reporting is designed to help businesses translate their ambitions into action, providing the tools you need to make tangible progress and achieve profitability whilst...Read more about Emex EHS & ESG Software
VelocityEHS ESG|EHS software is trusted by 1/3 of the Fortune Global 1000 and thousands of other companies across industries to manage the environment, health, and safety programs. VelocityEHS modules include incident management...Read more about VelocityEHS
As market and regulatory pressure increases, Novata was formed to help empower private market players to get a handle on their ESG data. The Novata platform provides a clear starting point for selecting ESG metrics, painless data ...Read more about Novata
denxpert is an emissions management software designed to help businesses track and manage vehicles’ CO2 emissions, along with fuel usage and mileage data. The system offers a compliance dashboard that shows how many CO2 emissions ...Read more about denxpert
Osano is a cloud-based data privacy platform that helps businesses ensure compliance with various data governance regulations such as General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA) across webs...Read more about Osano
Benchmark Risk + Compliance
Benchmark Risk + Compliance
With Benchmark Risk + Compliance platform’s solutions, we can help your company strengthen the foundation of your ESG program allowing you to minimize risk, enhance safety programs, improve compliance and performance, and deliver ...Read more about Benchmark Risk + Compliance
Our ethical data exchange platform is one of the world's leadning collaborative platforms for buyers, suppliers and auditors to store, share, manage and report on ethical supply chain information quickly and easily. Sedex is use...Read more about Sedex
Benchmark ESG Reporting
Benchmark ESG Reporting
The Benchmark ESG Reporting Suite helps companies and organizations truly understand the power of their ESG and sustainability performance data with our holistic ESG reporting software. Our digital sustainability and ESG reporting...Read more about Benchmark ESG Reporting
Popular ESG Comparisons
Buyers GuideLast Updated: July 18, 2022
Today’s businesses face a wide range of environmental, social, and governmental (ESG) initiatives for which compliance is mandatory. Noncompliance can lead to fines levied by regulatory agencies and adversely affect a company’s reputation. Furthermore, with a regulatory environment that is constantly in flux, taking a proactive approach to keeping up with new ESG initiatives can be daunting without the right information.
ESG software provides businesses with the tools to monitor existing ESG initiatives, collect data regarding a company’s progress towards compliance, and proactively outline efforts towards new ESG goals.
This guide will help you understand the different factors that must be considered when choosing an ESG software solution.
Here’s what we'll cover:
- What is ESG software?
- Common features of ESG software
- What type of buyer are you?
- Benefits and potential issues
- Market trends to understand
What is ESG software?
ESG software helps companies stay up to date with environmental, social, and governance (ESG) initiatives by automating data collection of key performance indicators (KPIs) across multiple sources of information, monitoring progress or deficiencies in reaching ESG goals, and providing an automated framework to disclose the status of a company’s successful ESG initiative implementations.
Common features of ESG software
While features vary from product to product, ESG software typically offers some or all of the following functionality:
|Framework management||Manage global or internal ESG standards that are designed to measure and limit the impact of business processes or procedures.|
|Multi-channel data collection||Collect information from multiple sources, such as internal company data, regulatory entities, and social media.|
|Compliance management||Identify non-adherence to policies in a service, product, process, or supplier behavior and monitor progress towards improvement.|
|Disclosure management||Create, manage, and publish disclosure statements or reports to the public and regulatory agencies.|
|Performance metrics||Track indicators that detail how well an organization, a division, or a particular project are performing within required parameters.|
|Reporting and analytics||Compile key data into customizable dashboards. View and track pertinent metrics.|
|Risk management||Identify areas of risk and implement processes to mitigate future ESG hazards.|
|Sustainability management||Manage the impact of a company’s processes on the environment and comply with government regulations.|
What type of buyer are you?
As you research your options for ESG software, consider the type of buyer you are. This will help you better understand your company's needs and the required software features:
- Companies with strong regulatory requirements: As businesses have become increasingly interconnected in a global marketplace, the variety of environmental and governmental regulations with which an organization must comply has continued to expand. By utilizing ESG software, companies can track their progress toward ESG-related initiatives by monitoring key performance indicators. In doing so, an organization can make necessary changes to business practices to avoid unnecessary fines due to non-compliance.
- Organizations that rely on public reputation: Adherence to ESG initiatives is a primary factor in how consumers view the reputation of a company. Customers want to know the products and services they are paying for have been sustainably provided and without negative impacts to the environment or society. Additionally, as the labor market diversifies, maintaining compliance with ESG initiatives also attracts employees and talent that share the same level of global conscience.
Benefits and potential issues
By employing ESG software, companies can experience the following benefits:
- Publicize existing strengths: By providing up-to-date information on a company's progress related to ESG initiatives, ESG software allows your company to publicize its successes in bringing sustainability and moral responsibility to the market. In addition to attracting potential customers to your brand, this also provides a gauge for investors to assess investment viability.
- Limit liability: ESG software monitors where your company stands in relation to vital KPIs. In doing so, companies can proactively identify potential ESG risks and change business processes to mitigate potential financial losses or damage to public reputation.
As with any change in business workflow, be mindful of the following potential issues when considering an ESG software:
- Confidence of reported data (due to multiple sources): Even though ESG software has the ability to track data from multiple sources, such as internal company data, regulatory entities, and social media, the adage of “garbage in, garbage out” still applies. Therefore, it’s vital to make sure that the data being tracked by your ESG software is reliable and up to date.
- Provide a pathway for isolated data: In many cases, data vital to ESG research may not be easily amenable to automated collection. Much of this data may reside in spreadsheets or PDFs that are not easily collected by ESG software’s automated tracking. In order to leverage all necessary ESG data, be sure that you have provided a means to import this data from isolated sources.
Market trends to understand
When researching the ESG software market, there are some market trends that you may want to consider.
- Monitoring political action involvement: As sustainability and adherence to ESG initiatives becomes an increasingly key component in a business’s success, the impetus for a company to influence environmental policies through political action threatens the viability of ESG data. As a result, the need to track both businesses and consumers moves towards the ideal of increased transparency. An organization's contributions to political action groups will most likely become a key data point in the future for ESG software.
- Incorporation of social listening tools: One of the best ways to gauge public sentiment of a company’s adherence to ESG initiatives is by simply listening to what people are saying on social media platforms. Social listening tools will increasingly be employed to scan social media platforms for mentions of a company’s reputation which can then be factored into ESG software scoring.