The implementation of CSRD is far from simple. It requires the collaboration of various stakeholders, including finance, risk, data specialists, IT professionals, and sustainability experts. Data and technology challenges are amongst the hardest to overcome getting ESG reporting right. This publication aims to provide an overview and also to simplify key data and technology considerations so all stakeholders can understand, fostering alignment and clear priority-setting.
Choosing the right technology to meet ESG reporting requirements
To meet both external and internal ESG reporting requirements effectively, a tailored technology & data solution is necessary. It will not only streamlines the management of diverse ESG data sources, but also enhances accuracy and transparency in reporting. By embracing technology-driven approaches, organizations can unlock the full potential of their ESG initiatives, fostering a sustainable and data-driven future.
Technology and data capabilities for ESG reporting
CSRD workflow and reporting capabilities
The large platform players are developing end-to-end ESG platforms to enable, automate and simplify the CSRD reporting process. It includes capabilities such as CSRD workflow management, controls, assessment (e.g. DMA) and data integration. Also there is a growing number of external reporting solutions to assist you in producing the CSRD report (last mile reporting).
Specific ESG capabilities
ESG regulations and the Sustainability transitions of companies (e.g. Decarbonization) require specific data & technology capabilities. For example to calculate Carbon Emissions across the value chain or to measure circularity of products. There is a wide range of niche solutions for specific ESG topics, and also the large platform players are integrating this into their ESG platforms
Data management capabilities
ESG reporting requires high volume of both internal and external data and therefore supporting technology for proper data management is need to collect, store and transform ESG data. Examples are data platform, data dictionary/repository and data visualization capabilities.
Get your Data and Tech ready for CSRD
Answering frequently asked questions about data and technology in regards to the CSRD
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Powered Sustainability implementation
The KPMG approach helps to solve the immediate challenges associated with sustainability reporting with a detailed, consolidated readiness assessment, and a comprehensive data aggregation and analytics platform.
Powered Sustainability can help deliver a pre-defined Target Operating Model for ESG with KPMG leading practice across People & Culture, Process & Controls, Tech & Data, Governance, and Service Delivery Models, all pre-configured for the ESG technology platforms (e.g. Microsoft, Salesforce, SAP). It also contains integration with the widely used Workiva ESG financial reporting platform.
It’s designed to help businesses get to ‘best practice’ quickly and securely, so that they can drive sustainable change and avoid a lot of the pitfalls that can come with traditional approaches.
ESG Data & Technology insights
ESG events
KPMG helps you. With the right insights. Concrete actions. Genuine solutions. Also regarding the topic of ESG. Get inspired at one of our ESG events.
