Deloitte, a global professional services firm, announced the expansion of its ESG accelerators on the Workiva platform.
According to ESG Today, this marks a significant step in supporting companies with the compliance demands of the EU’s Corporate Sustainability Reporting Directive (CSRD).
The launch includes four new tools designed specifically to navigate the complexities of CSRD compliance. These tools address critical requirements such as double materiality assessments, financed emissions calculations, regulatory gap assessments, and workflow tracking, providing essential resources for companies facing increasing sustainability reporting mandates.
Deloitte has been proactive in enhancing the ESG capabilities on the Workiva platform since May 2022. Initially, the firm introduced a series of ESG accelerators aimed at aiding finance, accounting, controllership, and compliance teams in managing and reporting ESG data efficiently. In 2023, Deloitte expanded this suite to include utilities for calculating Scope 3 emissions, supporting continuous control monitoring, and simplifying sustainability reporting processes.
The newly released tools are part of a broader strategy to facilitate easier and more reliable ESG reporting across various industries. The CSRD, which significantly expands the scope of companies required to disclose sustainability information, mandates detailed reporting on a company’s environmental impact, human rights practices, social standards, and related risks. This directive has widened its reach to encompass over 50,000 companies, up from approximately 12,000, indicating a substantial increase in the scale of regulatory oversight.
Among the new solutions is the CSRD Double Materiality Accelerator, which helps companies quickly and effectively assess the dual aspects of materiality required by the directive. Additionally, the Financed Emissions Calculator enables companies to streamline their reporting of financed emissions by employing the Partnership for Carbon Accounting Financial (PCAF) framework.
The suite also includes an ESRS Mapping Accelerator for efficient gap assessments and an Activity Log Analyzer to monitor and document ESG activities comprehensively.
The solutions are now available on the Workiva Marketplace and are complemented by Deloitte’s advisory services, enhancing their utility and accessibility for users.
Dina Trainor, managing director and ESG controllership leader at Deloitte & Touche LLP, said, “The demand for a comprehensive and dynamic platform to manage ESG reporting and other regulatory compliance activities continues to grow alongside the expanding global regulatory environment and other government-led climate initiatives. Deloitte’s latest accelerators on the Workiva platform can help organizations to more easily untangle and report on complex and sometimes overlapping ESG reporting rules.”
Julie Iskow, president and CEO of Workiva, said, “Deloitte’s new ESG accelerators leverage the full capability of the Workiva Platform to help clients address the need for reporting that is integrated across business lines, accessible to all stakeholders and powered by innovation to ultimately achieve better, faster integration of ESG into governance frameworks.”
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