• Streamlined ESG compliance: Integration of ONESOURCE Statutory Reporting with SAP Sustainability Control Tower to ease compliance with global ESG regulations.
• Meeting evolving standards: Supports businesses in addressing the EU’s Corporate Sustainability Reporting Directive (CSRD) and future global standards like the US SEC and ISSB.
• Simplified last-mile reporting: Delivers a unified solution for preparing and filing ESG data for multinational corporations.

Thomson Reuters Announces Integration with SAP for ESG Reporting

Thomson Reuters (TSX/NYSE: TRI) has partnered with SAP to launch a product integration that simplifies Environmental, Social, and Governance (ESG) reporting for global businesses. This integration combines Thomson Reuters ONESOURCE Statutory Reporting with SAP Sustainability Control Tower, offering customers a seamless, unified platform for ESG data preparation and reporting.

This collaboration simplifies compliance with emerging regulations, particularly for businesses operating in the European Union (EU), which will soon face the Corporate Sustainability Reporting Directive (CSRD) starting January 2025. It also provides a scalable foundation for addressing global standards, such as those from the US Securities and Exchange Commission (SEC) and the International Sustainability Standards Board (ISSB).

“We are thrilled to be collaborating with SAP to reduce the complexity and burden of complying with emerging regulations,” said Ray Grove, Head of Corporate Tax and Trade at Thomson Reuters. “Together, we are committed to helping businesses navigate the evolving regulatory landscape and achieve their sustainability goals.”

The integration focuses on delivering last-mile reporting, a critical feature that builds on SAP Sustainability Control Tower’s ESG management capabilities. This ensures businesses can compile and submit their ESG data efficiently within a single platform, reducing operational burdens.

SAP’s Chief Product Officer and co-General Manager for Sustainability, Gunther Rothermel, emphasized the value of the partnership: “The combination of SAP Sustainability Control Tower and Thomson Reuters ONESOURCE Statutory Reporting provides our customers with last-mile reporting functionality based on a robust data foundation.”

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This product integration follows other notable collaborations between the two companies, such as the launch of ONESOURCE Sales & Use Tax Compliance integration with SAP Document and Reporting Compliance and the certification of ONESOURCE solutions as SAP Endorsed Apps.

As regulations continue to evolve, this partnership positions Thomson Reuters and SAP to help businesses meet new ESG requirements efficiently, fostering sustainability while reducing compliance complexity.