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Environmental, social, and governance (ESG) management has become essential for companies committed to sustainable business practices. As of 2024, it is also necessary for companies to adopt these practices to comply with new regulations such as the CSRD and align with various ESG frameworks. Implementing an effective ESG program requires robust ESG reporting software and tools to manage the complexities of sustainability initiatives.Strategising, collecting data, and reporting on ESG activity can be an incredibly challenging and overwhelming process, which is why many companies are resorting to using ESG software solutions to help optimise these processes. This guide showcases some of the best ESG data management software and tools available in 2024 that companies can use to promote transparency, accuracy, and efficiency in their ESG activities. These sustainability software solutions offer comprehensive features for ESG tracking, analysis, and reporting.
ESG solutions for offsetting emissions and carbon footprint calculation
Reducing greenhouse gas emissions and neutralising unavoidable emissions to reach net zero can be a daunting process. Many companies are trapped between inaction and fear of greenwashing, resulting in the need for trusted partners and tools to help meet net zero targets and improve overall ESG performance.If your company needs help with its net zero strategy, neutralising unavoidable emissions, or calculating your carbon footprint, some tools to explore include:
1. Senken
Senken is a trusted partner providing high-quality carbon credits and strategic guidance for effective emission offsetting. Senken ATLAS enables companies to create offsetting strategies aligned with industry standards, allowing users to set clear climate neutrality goals and monitor their carbon credit portfolios in real-time. Senken ensures top-tier quality by vetting projects rigorously, with only 5% passing its due diligence process, mitigating risks associated with greenwashing. Additionally, Senken's buffer pool offers a replacement credit at no extra cost if a project underperforms. Compliance-ready reports for frameworks like CSRD and ESRS make Senken a valuable choice for companies aiming for net-zero targets with accountability and transparency.
Planted is a sustainability-focused company that helps individuals and businesses measure, reduce, and offset their carbon footprints through a subscription model that funds tree planting and climate projects. They offer a comprehensive ESG platform for businesses to implement sustainability strategies, including carbon footprint analysis and ESG management, while emphasising the creation of diverse, climate-resilient forests in Germany. With a focus on education through their Climate Academy and adherence to high standards like TÜV certification, Planted aims to make sustainability accessible and actionable for all, having already planted over 337,743 trees and offset more than 138,673 tons of CO2.
Sinai specialises in providing a decarbonisation intelligence platform that helps organisations effectively measure, analyse, and reduce their carbon emissions. The platform automates carbon accounting across all scopes (1, 2, and 3) and supports companies in setting science-based targets for achieving net-zero emissions. Key features of SINAI's offerings include scenario analysis tools for identifying cost-effective reduction pathways, automated greenhouse gas inventories, and customisable internal carbon pricing models. Recently, they launched the Decarbonisation Intelligence Portal, which integrates with Tableau for enhanced ESG data visualisation and reporting capabilities, allowing businesses to track emissions, optimise resource distribution, and comply with various regulatory frameworks such as CDP and TCFD. SINAI focuses on high-emission sectors like manufacturing and agriculture, providing actionable insights to help organisations navigate sustainability challenges while driving meaningful emissions reductions.
Greenly is a carbon management platform that enables businesses to measure, reduce, report, and offset their carbon emissions effectively. The platform offers a comprehensive suite of ESG tools designed to assist companies in achieving sustainability goals while ensuring compliance with regulations like the Corporate Sustainability Reporting Directive (CSRD) and ESRS. Key features include carbon assessments, decarbonisation strategies, support for Science Based Targets initiative (SBTi), and life cycle assessments. Greenly employs both activity-based and spend-based approaches to provide precise emissions evaluations and sector benchmarks. Additionally, the platform emphasises employee engagement in sustainability efforts and offers a catalogue of pre-selected projects for carbon offsetting. With a focus on data security and adherence to GHG Protocol standards, Greenly aims to empower organisations of all sizes to contribute to climate action and enhance their operational resilience.
Code Gaia is an ESG management platform designed specifically for small and medium-sized enterprises (SMEs). It offers a user-friendly software solution that automates sustainability management processes, enabling companies to comply with various reporting standards such as the CSRD and GHG Protocol. The platform facilitates carbon accounting, double materiality analysis, and collaborative reporting while providing personal support from sustainability experts throughout the process. Code Gaia aims to simplify the complexities of sustainability reporting and help businesses optimise their environmental impact efficiently, offering an intuitive ESG dashboard for easy data visualisation and analysis.
Global Changer is a platform that simplifies double materiality assessment and automates the calculation of Scope 1, 2, and 3 carbon footprints for businesses, helping them comply with reporting requirements such as the Corporate Sustainability Reporting Directive (CSRD) and ESRS. It enables users to identify emission sources, plan and execute reduction strategies, and generate detailed emissions footprints using updated emission factors. Key features include a centralised hub for tracking multiple emissions reduction projects, access to a library of over 270 mitigation projects for effective strategy identification, and customisable solutions that support complex organisational structures. Additionally, it assists in creating Science-Based Targets Initiative (SBTi) compliant reduction paths with actionable steps towards achieving Net-Zero emissions, providing high-quality, audit-ready sustainability data that adheres to scientific standards and legal regulations.
Tools for ESG compliance and CSRD software
Compliance with regulatory frameworks like the CSRD and other ESG standards requires reliable tools to collect, analyse, and report data effectively. With over 1100 data points required by the CSRD alone, doing this process manually is simply not an option for most sustainability managers. These platforms are designed to streamline compliance processes and ensure transparency, offering robust ESG reporting software capabilities.Some great tools to look at to help your company comply with ESG regulations such as CSRD and ESRS include:
Novata is an ESG data management platform designed to assist private companies in managing their sustainability challenges and preparing for regulatory compliance, particularly with the Corporate Sustainability Reporting Directive (CSRD) and ESRS. Recently, they launched "Novata for Companies," which includes tools for ESG data management, carbon accounting, and expert advisory services. Key features of the platform include the Sustainability Management Solution for collecting and collaborating on ESG data, the Carbon Navigator for measuring Scope 1, 2, and 3 carbon emissions, and a dedicated CSRD solution that simplifies compliance processes. Novata aims to enhance productivity and collaboration by moving beyond traditional spreadsheets and providing a user-friendly interface that integrates advanced technology with expert guidance. Since its launch in 2022, Novata has gained significant traction, serving over 8,000 companies worldwide and managing more than $10 trillion in assets, offering comprehensive ESG analytics and benchmarking capabilities.
EcoVadis is a leading sustainability rating platform that assesses the environmental, social, and governance (ESG) performance of organisations worldwide. Established in 2007, EcoVadis provides a collaborative web-based platform that evaluates companies based on 21 sustainability criteria across four key areas: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. Their methodology is grounded in international sustainability standards, including the UN Global Compact and the Global Reporting Initiative (GRI), ensuring a comprehensive assessment of non-financial performance. Companies are rated on a scale from 0 to 100, with scores reflecting their sustainability practices and management systems. EcoVadis also offers scorecards that highlight strengths and areas for improvement, helping organisations develop corrective action plans to enhance their CSR performance. With over 130,000 companies rated globally, EcoVadis is recognised for promoting transparency and driving sustainable practices throughout supply chains, offering valuable insights for ESG strategy development and stakeholder engagement.
Novisto is a sustainability management platform that empowers companies to effectively manage their environmental, social, and governance (ESG) data and reporting. The platform provides a comprehensive suite of tools designed to streamline the collection, analysis, and reporting of ESG metrics, helping companies meet regulatory requirements such as the Corporate Sustainability Reporting Directive (CSRD) and ESRS. Novisto's offerings include automated data collection, advanced analytics, and customisable reporting features that facilitate transparency and compliance. Additionally, the platform supports companies in setting science-based targets and tracking their progress towards sustainability goals. By integrating technology with expert advisory services, Novisto aims to enhance the sustainability performance of businesses across various sectors, promoting accountability and driving positive environmental impact. The platform offers robust data integration capabilities and supports comprehensive climate risk analysis.
Envoria is a sustainability reporting software provider that specialises in helping organisations manage their environmental, social, and governance (ESG) data. The platform offers an all-in-one solution for collecting, monitoring, and reporting sustainability data, ensuring compliance with various standards such as the Corporate Sustainability Reporting Directive (CSRD), ESRS, and the EU Taxonomy. Key features include automated data collection, climate risk assessments, emissions management (covering Scope 1, 2, and 3), and supply chain monitoring. Envoria's software allows companies to create audit-proof reports using predefined templates and facilitates the integration of ESG data from multiple sources. Founded in 2018 and based in Munich, Germany, Envoria aims to simplify the complexities of sustainability reporting while supporting businesses in achieving their sustainability goals through a modular approach that adapts to their evolving needs. The recent collaboration with Vodafone Business to launch the ESG Navigator further enhances its capabilities for companies seeking to meet increasing sustainability demands, offering advanced ESG data visualisation and automated reporting features.
How to choose the best ESG software for your company?
Choosing the right ESG software is essential for aligning your company’s unique needs with its sustainability objectives and overall ESG strategy. Whether you are a small business just starting on your ESG journey or a large enterprise looking for comprehensive carbon management solutions, the tools discussed above represent some of the top options available in 2024. For companies focused specifically on carbon credits, platforms like Senken offer robust solutions tailored to effective emissions offsetting and sustainability strategy setting.
When selecting ESG software, consider factors such as:
1. Compatibility with your existing systems and data integration capabilities
2. Ability to perform materiality assessments and support stakeholder engagement
3. Robust ESG analytics and benchmarking features
4. Automated reporting and disclosure management tools
5. Support for climate risk analysis and scenario planning
Ultimately, selecting the best software will depend on your specific goals, regulatory requirements, budget, and the level of support needed to drive your sustainability initiatives forward. By leveraging these advanced ESG tools and platforms, companies can enhance their ESG performance, improve corporate governance, and demonstrate their commitment to social responsibility.