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Watershed Launches New Software to Streamline Corporate Climate Reporting

Watershed Launches New Software to Streamline Corporate Climate Reporting

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First-of-its-kind Watershed Disclosures product will help companies report their climate impact easily, quickly, and reliably to meet new disclosure requirements

Watershed has launched Watershed Disclosures, a first-of-its-kind product offering that enables companies to produce high-quality climate disclosures to meet mandatory and voluntary reporting requirements. Companies can now use Watershed’s embedded climate intelligence to understand which disclosures apply to them, build multiple audit-ready disclosure reports, and develop best-in-class answers informed by peers’ responses and expert guidance.

Corporate climate disclosure is now table stakes for companies across industries, with regulators, investors, and executives demanding new levels of rigor on par with financial reporting. But for most companies, climate disclosure is challenging: climate data is fragmented across different departments, in different formats; each disclosure framework has distinct requirements; and there’s no simple way to replicate reporting year over year.

Watershed Disclosures addresses the challenges of producing reports that satisfy compliance, legal, and financial teams while setting up climate teams to succeed. The product enables companies to:

  • Assess their requirements with a regulatory checkup: Companies can quickly identify climate disclosures that apply to their business, like the European Union’s Corporate Sustainability Reporting Directive (CSRD). The regulatory checkup also makes recommendations for participation in voluntary reporting frameworks like CDP and the Task Force on Climate-related Financial Disclosures (TCFD). The tool also provides recommended disclosure timelines and requirements.
  • Build high-quality reports, faster: Companies can create reports efficiently using guided workflows with embedded climate intelligence. The product automatically pulls in data from their current emissions measurements, targets, and reduction plans to populate multiple, audit-ready reports simultaneously. This allows companies to scale reporting, making the reporting process easier and more reliable year over year.
  • Create best-in-class responses: Companies can browse high-quality disclosure examples and publicly available responses from peers to help them produce better responses for their own disclosures. The product also provides companies with a proprietary risks and opportunities library to help them understand and include potential climate risks and opportunities for their business, a requirement of many disclosure frameworks.

See related article: Watershed and KPMG Partnership Takes Aim at Advancing the Global Climate Agenda

“Companies use Watershed Disclosures to be in control of their climate data, so they can put their best foot forward with climate reporting,” said Laura Blattner, Watershed product lead for Watershed Disclosures. “We designed it to make producing high-quality disclosures easier and faster every year, all while ensuring compliance. This way, customers can focus on running their business, rather than reporting on it.”

“The stakes for getting it wrong are high, but Watershed streamlined the disclosure process and helped demystify what can be a confusing, error-prone, and daunting endeavor,” said Caroline Corbett-Thompson, ESG Manager at Wise. “Watershed helped us understand the requirements, pull in all of our data seamlessly, and develop responses we’re confident in.”

Watershed Disclosures is launching on the heels of the Watershed Policy Advisory Board announcement. This group of climate policy leaders with experience at the SEC, TCFD, CDP, and beyond offer strategic advice to Watershed as it helps companies meet the new era of climate disclosure.

Watershed Disclosures is the latest step forward in furthering Watershed’s mission to help companies take climate action. Watershed also recently formed a partnership with leading advisory firm KPMG to support companies at every stage of their climate journey.

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