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IBM Enhances ESG Data Platform with CSRD Sustainability Reporting Features

IBM Enhances ESG Data Platform with CSRD Sustainability Reporting Features

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IBM® has announced the addition of new features to its IBM Envizi™ product, further enhancing its environmental, social, and governance (ESG) reporting capabilities. These updates enable organizations to comply with the reporting demands of the EU Corporate Sustainability Reporting Directive (CSRD).

The CSRD requires companies to report disclosures and metrics as stipulated by the European Sustainability Reporting Standards (ESRS). This involves the collection and analysis of vast amounts of data, now streamlined within the IBM Envizi ESG Suite. This suite equips clients with the tools needed to systematically and securely prepare their reports, including response workflows, role-based access, collaboration tools, approval processes, question guidance, audit trails, and third-party verification access.

The software is designed to address the specialized reporting needs mandated by the CSRD, which aims to enhance the transparency of EU companies’ sustainability performance for investors, analysts, consumers, and other stakeholders. As the demand for ESG data management and reporting grows across organizations, the need for specialized, comprehensive, and scalable tools becomes essential. IBM Envizi supports customers throughout their sustainability journey—from data capture and reporting to performance improvement.

The latest CSRD reporting features augment Envizi’s existing capabilities, which already support eight other ESG reporting frameworks and disclosures. This integration allows customers to manage responses to multiple ESG frameworks within a single system.

Ensuring consistency and auditability is crucial when responding to ESG reporting frameworks. IBM Envizi facilitates this through workflow tools that manage the routing and approval of responses. The software enhances collaboration with in-product commenting, tracks question status and completion through burndown charts, and shares best practices with question-level guidance. It also allows the reuse of responses across different frameworks and includes features for copying answers from previous submissions.

IBM Envizi meticulously tracks data modifications, providing an audit trail that links data back to its sources and ensuring traceability of supporting documentation. The suite includes read-only access to support third-party auditing.

Related Article: IBM Showcases Progress on Sustainability and Social Responsibility in 2023 Impact Report

The recent enhancements to the IBM Envizi ESG Suite include a supply chain emissions solution, an entry-level climate disclosure solution, new AI functionalities, and expanded language options. These upgrades underscore IBM Envizi’s commitment to providing a systematic, auditable methodology and tools for developing responses to ESG reporting frameworks and meeting disclosure requirements.

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