Simplify Carbon Accounting with Workiva Carbon
Workiva Inc., a leader in integrated reporting, announced Workiva Carbon, a new addition to their ESG & Sustainability Platform.
This offering helps organisations comply with global climate regulations like the Corporate Sustainability Reporting Directive (CSRD), SEC's climate disclosure rules, and California's climate-related financial risk acts.
Workiva Carbon also empowers businesses to manage their voluntarily established net-zero targets. This builds transparency for stakeholders and enhances competitiveness in the global market.
Key functionalities of Workiva Carbon
Measurement: Companies can collect real-time data from various sources like ERP systems, accounting software, and utilities. Workiva Carbon uses validated emissions factors for over 240 countries to track greenhouse gas (GHG) emissions across locations. This facilitates automatic calculation of emissions for scopes 1, 2, and 3.
Management: Easy-to-use surveys help gather crucial data from suppliers. This data is then integrated into reports and dashboards, allowing businesses to set science-based targets, reduce emissions, assess supply chain sustainability risks, and implement decarbonisation strategies.
Collaboration: Workiva Carbon strengthens collaboration across departments (sustainability, finance, accounting, legal, etc.) by providing a central platform for trusted data. This eliminates risks associated with manual edits, multiple versions, and last-minute changes.
Reporting: Workiva Carbon automatically aligns emissions data with various reporting frameworks. Companies can generate consistent disclosures for regulators, investors, and stakeholders with complete audit trails, attached evidence, and granular permission controls.
“The launch of Workiva Carbon enhances Workiva’s established and leading ESG platform, positioning us to help businesses advance their sustainability efforts,” said Julie Iskow, President and CEO of Workiva. “Now our customers can streamline Greenhouse Gas (GHG) emissions tracking, set science-based targets, and meet stakeholder demands amidst the changing investor and regulatory landscape. Bringing these carbon capabilities into our platform highlights our unwavering commitment to providing our customers a comprehensive solution for Financial reporting, ESG, and GRC.”
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Source: Workiva
