Conquer Complexity in ESG Reporting
Conquer complexity in ESG Reporting & Planning processes by managing them through a unified Intelligent Finance platform supporting multiple CPM processes. Deliver rapid insights to internal and external stakeholders. Replace Excel spreadsheets and standalone reporting & planning software with a modern, unified platform.
Streamline ESG Data Collection, Reporting & Planning
Collecting activity, using industry standards or your own factors and methods to calculate your Scope 1 and 2 emissions and carbon intensity.
Align ESG Planning & Reporting
Create, configure and align ESG metadata model requirements with the same data model used for financial reporting and planning.
Govern ESG Planning & Reporting Processes
Create end to end user workflows to ensure data integration, data validations, consistency checks, completeness and timely delivery of auditable data.
Enhance ESG Planning & Forecasting
Forecast ESG KPIs to provide transparency for the organization into your financial and ESG target achievements.
Manage Renewable Energy Contracts
Manage Renewable Energy Contracts (RECs, PPAs) throughout your organization and align calculations to Scope 2 Market Method in a unified data model.
Delivering 100% Customer Success
“The OneStream platform is now core to McCain Foods Limited – uniting consolidation, planning, tax and analysis teams. OneStream Services’ strong leadership and technical knowledge was instrumental in our successful implementation. Their ability to actively listen to our goals and objectives and interpret during the design phase allowed us to create a system not only to satisfy our immediate needs, but to address our future needs.”
Richard N. Burton
McCain Foods
ESG Reporting & Planning Solutions
Financial Close & Consolidation Software
Financial Planning, Budgeting and Forecasting Software
Financial Data Quality Management Software
What is ESG Reporting?
ESG reporting (a.k.a. Sustainability Reporting) refers to the disclosure of data covering a company’s operations in three areas: environmental, social and corporate governance. It provides a snapshot of the business’s impact in these three areas for investors, customers and wider stakeholders. The value of ESG reporting is that it ensures organizations consider their impacts on sustainability issues and enables them to be transparent about the risks and opportunities they face.
Are there any global standards for ESG/Sustainability Reporting?
There are many competing standards for ESG/Sustainability reporting including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Carbon Disclosure Project (CDP) and many others. However, there is now movement towards a global standard coming out of the recent COP26 conference in 2021 and COP27 in 2022.
The US-SEC has issued multiple drafts on climate related reporting and is expected to release it’s first set of climate disclosures in 2023 with implementation from FY 2024. The expectation is that the SEC will use ISSB standards (International Sustainability Standards Board – under IFRS).
The European Union (EU) Announced Green Deal in 2021 to help facilitate the energy transition in Europe towards renewable energy. 750 bEUR available in green financing. To qualify companies have to proof their Revenues, Opex and/or Capex are ‘green’. For this the EU Taxonomy was introduced focusing on 6 main criteria to address the issue of poor data quality, the CSRD (Corporate Sustainability Reporting Directive).
EFRAG (European Financial Reporting Advisory Group) was tasked by the EU commission to convert the CSRD into the European Sustainability Resporting Standards (ESRS)
CSRD / ESRS are in force as of 2023 as of FY 2024 and apply to any company (listed or private) that has (2 out of 3 criteria will make the company eligible):
- Over 250 employees
- Over 40 mEUR in revenue
- Over 20 mEUR in Assets
As of 2028 companies outside the EU but with operation in the EU that meet the criteria, will have to report under the CSRD.
ESG Reporting & Planning Resources
The New CFO Imperative: Unifying ESG & Financial Reporting
View videoAlign ESG Reporting and Financial Reporting with OneStream
View blog postUnifying ESG with Financial Reporting
View blog postData Quality: Key to Accurate ESG Reporting
View blog postTake Finance Further.
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