Top 10 ESG reporting software providers for businesses

What is ESG Reporting Software?

ESG reporting (also known as sustainability reporting) is a report published by a company that shares data to make its environmental, social and governance impacts transparent.

Data can be complicated, which is why many companies use ESG software for data collection and to produce reports. This software manages and reports on environmental, social, and governance initiatives. Ensuring high data quality is essential for creating accurate, auditable ESG data, which ultimately aids organisations in adhering to evolving regulations. 

The significant features of such software include:

1. Metric selection: Choose relevant ESG metrics aligning with business goals, voluntary reporting frameworks or regulatory standards..
2. ESG data collection: Gather ESG data from diverse sources, streamlining the process for businesses.
3. Audit-ready reporting: Communicate ESG performance clearly and demonstrate process for external auditors.
4. Compliance with regulations: Ensure compliance with evolving ESG reporting standards and regulations.
5. Performance analysis and improvement:  Analyse ESG performance, pinpoint improvement areas, assign tasks for necessary actions, and track progress.

ESG software facilitates corporate responsibility by ensuring compliance with standards and regulations. It helps organisations address societal and environmental challenges and promotes sustainable and ethical business practices.

Top 10 ESG Reporting Software Providers

The top 10 ESG reporting tools excel in managing sustainability, social, and governance metrics. An ESG reporting platform serves as a comprehensive solution for monitoring, measuring, and reporting on ESG criteria.

These tools enhance transparency, compliance, and societal impact, addressing diverse organisational needs. 

1. KEY ESG

KEY ESG is a leading software in ESG management, expertly designed to simplify the complex process of ESG reporting for investors and companies.

The software allows users to choose ESG metrics from a library of regulation-specific metrics based on over 1,000 data points or create any custom metric required. It also allows users to send data requests and reminders to colleagues and efficiently manage the data collection workflows. With the data in hand, the software automates and validates the data calculations, produces charts and tables to measure and analyse performance, enables target setting, and tracks real-time progress.

KEY ESG’s platform simplifies ESG reporting, ensuring compliance and transparency. Visit KEY ESG’s website for more information here. For a deeper understanding of how software enables effective ESG management, explore this article.

2. Novata

Novata offers comprehensive ESG software for environmental, social, and governance management for private equity and venture capital firms. Its platform simplifies reporting and supports corporate responsibility. The tool promotes a balanced approach to sustainability. Its user-friendly interface enhances transparency and efficiency in ESG data management. Novata is a good option for businesses looking to integrate ESG into their strategies.

For more information, visit Novata’s website here.

3. SustainIQ

SustainIQ offers advanced ESG management for organisations with real-time tracking and analysis. It enables organisations to gather, monitor, and instantly analyse ESG data. The software simplifies ESG reporting and tracks various metrics. Its focus on immediate data helps businesses make informed, ethical decisions. SustainIQ supports proactive sustainability management. It’s a helpful tool for companies aiming for a positive impact. The platform aids in aligning business practices with environmental and social goals. SustainIQ is a good option for modern, responsible business operations.

Learn more about SustainIQ.

4. Workiva

Workiva excels in versatile and adaptable ESG reporting for different businesses. Its platform integrates seamlessly with various organisational structures. The tool simplifies ESG reporting for diverse company needs. It enables effective ESG data management for all business sizes. Workiva promotes transparency and accountability in ESG practices. Its approach is tailored to each organisation’s unique ESG demands. Explore more about Workiva on their website.

5. Diligent

Diligent’s ESG platform serves organisations of all sizes. It provides tailored solutions for diverse business structures and requirements. Diligent boosts efficiency and effectiveness in sustainability practices, and its versatility makes it valuable for enhancing ESG reporting for various industries. It’s ideal for any organisation focused on ESG improvement.

Learn more about Diligent.

6. Benchmark ESG

Benchmark ESG is renowned for its focus on benchmarking and alignment with global ESG standards. The software lets organisations assess their ESG performance against benchmarks. It ensures compliance with standards, boosts sustainability competitiveness and helps identify areas for improvement. 

The platform aids in strategic planning for ESG enhancement and promotes a culture of ongoing development, which aligns with international sustainability expectations. The tool is key for advancing ESG practices, which is crucial for companies aiming to stay at the forefront of ESG performance. 

Explore Benchmark ESG further on their website.

7. Novisto

Novisto excels in integrating diverse ESG data sources, offering a comprehensive platform for effective ESG management. Its software streamlines the collection and analysis of ESG data from various sources, providing a cohesive view of a company’s sustainability performance. 

This integration ensures businesses understand their ESG impact entirely and accurately. Novisto’s tool simplifies managing complex ESG data, enhances organisations' accurate reporting, and aids in making informed sustainability decisions.

Discover more about Novisto on their website.

8. Ecometrica

Ecometrica is known for its focus on climate impact metrics. It helps businesses calculate scope 1, 2 and 3 carbon emissions and comply with regulations. Their platform ensures effective environmental initiative management.

Ecometrica aligns these initiatives with broader business goals. The platform is user-friendly, even for environmental reporting novices. It simplifies the reporting process for all users.

For more information, visit the Ecometrica website.

9. Sametrica

Sametrica excels in providing real-time tracking and actionable insights for ESG reporting. The platform lets businesses closely monitor their ESG performance. It provides timely and actionable insights. This allows quick responses to changes. Companies can make data-driven decisions. 

Sametrica excels at simplifying complex ESG data. It turns data into understandable, actionable information, which empowers continuous improvement in sustainability practices. 

Discover more about Sametrica.

10. Apiday

Apiday provides comprehensive ESG reporting solutions. It streamlines the ESG reporting process for improved efficiency. The software offers tools for capturing and analysing ESG data. It also supports reporting requirements for most ESG regulations and frameworks. 

Apiday’s approach ensures compliance with ESG standards. It also helps organisations gain insights into sustainability performance, making ESG management more effective for businesses. 

Learn more about Apiday.

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Key Features of ESG Reporting Software

When selecting ESG reporting software, it’s crucial to consider several key features that can significantly enhance your organisation’s reporting capabilities and overall ESG performance. 

Here are the essential features to look for:

1. Data collection and management: Effective ESG software should excel in data collection and management, allowing you to gather ESG data from various sources, including internal systems, external data providers, and manual inputs. 
2. ESG reporting capabilities: Robust ESG reporting capabilities are a must. The software must generate detailed ESG reports in PDF, Excel, and CSV. formats 
3. Data accuracy and validation: Ensuring data accuracy is paramount. Look for software that includes built-in data validation and accuracy checks. This feature helps maintain the integrity of your ESG data, providing confidence in the reliability of your reports.
4. Streamlined reporting: Streamlined reporting features, such as automated report generation, can save significant time and effort. This allows your team to focus on analysing the data and making informed decisions rather than getting bogged down in the mechanics of report creation.
5. Integration with other systems: Integrating with other systems, such as financial reporting platforms, significantly simplifies the data collection process.
6. Customisable reporting templates: Customisable reporting templates are valuable for tailoring reports to meet your organisation’s needs. 
7. Data analytics and insights: Advanced data analytics and insights capabilities help identify trends, risks, and opportunities for improvement. 
8. Compliance management: ESG software should remove the risk of non-compliance. It should ensure that your business is always complying with the latest applicable regulations as both the regulation and your business evolves. 
9. Automated audit-trail:: An audit trail and activity log  ensure that your ESG reporting is transparent and adheres to regulatory requirements. 
10. User-friendly interface: Finally, a user-friendly interface is essential for making the software easy to navigate and use. 

Focusing on these key features can help you select ESG reporting software that meets your organisation’s needs and enhances your overall ESG performance.

Why Businesses Need ESG Reporting Solutions

ESG is vital in business, emphasising sustainable practices. ESG software helps streamline ESG reporting and provides actionable insights. 

As businesses focus more on responsibility and sustainability, ESG software becomes key for managing and reporting in these areas. It helps align companies with best practices and stakeholder expectations. 

Additionally, sustainability data is critical in managing ESG performance and compliance with reporting standards.

1.  Compliance and reporting

ESG software is crucial for meeting environmental, social, and governance standards. It simplifies data collection, enabling accurate and transparent reporting. The software's adaptability keeps businesses up-to-date with evolving regulations. It eases complex compliance requirements. ESG software is a key tool for businesses prioritising high ESG standards without compromising profitability. It helps maintain regulatory compliance while managing sustainability goals.

2.  Risk management

ESG software is essential for environmental, social, and governance risk management. It helps businesses identify potential risks. The software also assists in assessing these risks and enables efficient risk mitigation strategies. The tool provides insights into ESG-related challenges. This helps companies be proactive and responsible. Effective ESG risk management improves reputation and also enhances business stability. ESG software is a vital part of modern business strategies.

3.  Stakeholder engagement and reputation management

ESG software is crucial for fostering positive stakeholder relationships, a key aspect of successful business operations. It allows businesses to accurately measure and communicate their impact on communities and the environment. The software facilitates transparent and authentic engagement with stakeholders, enhancing reputation management. This ability to showcase a company's commitment to social and environmental responsibilities strengthens stakeholder trust and loyalty. In today's conscientious market, ESG software's role in building and maintaining positive stakeholder relations is invaluable, making it a vital component in the strategic toolkit of businesses.

4.  Operational efficiency and cost saving

ESG software significantly contributes to operational efficiency and cost savings in businesses. Streamlining processes and optimising resource use reduces operational complexities and expenses. The software gives actionable insights for informed decisions. This leads to more efficient resource use. As businesses grow, the software scales to meet their needs. It adapts while keeping efficiency. It helps reduce costs immediately. It also supports long-term sustainable growth. Therefore, it's crucial for forward-thinking businesses.

How to choose the best ESG reporting software

Choosing the best ESG reporting software for your organisation can be complex, but a structured approach can simplify it. 

Here are the steps to consider:

1. Define your needs: Define your organisation’s ESG reporting needs and goals. Consider what specific metrics you need to track, the regulatory requirements you must meet, and the internal and external stakeholders who will use the reports.
2. Research and shortlist: Conduct thorough research to identify potential ESG reporting software vendors. Create a shortlist of vendors offering features and capabilities that align with your needs.
3. Evaluate features and functionality: Evaluate each shortlisted vendor's features and functionality. Look for key features such as data collection, reporting capabilities, data accuracy, and integration with other systems.
4. Assess data accuracy and validation: Assess each vendor's data accuracy and validation capabilities. Ensure that the software can provide reliable and accurate ESG data, which is critical for credible reporting.
5. Consider integration and customisation: Consider each vendor's integration and customisation capabilities. Your ESG software should seamlessly integrate with your existing systems and offer customisable reporting templates to meet your requirements.
6. Evaluate user experience: Evaluate each vendor's user experience and interface. A user-friendly interface ensures your team can easily navigate and use the software.
7. Assess risk management and compliance: Assess each vendor's risk management and compliance capabilities. The software should help you identify and mitigate ESG-related risks and ensure compliance with regulatory requirements.
8. Request demos and trials: Request demos and trials from shortlisted vendors. This hands-on experience will help you understand how the software works and whether it meets your needs.
9. Evaluate Customer Support: Evaluate each vendor's customer support and service. Reliable customer support is crucial for addressing any issues and ensuring smooth operation.
10. Make a decision: Based on your evaluation and selection criteria, choose the ESG reporting software that best meets your organisation’s needs.

By following these steps, you can choose the best ESG reporting software for your organisation, ensuring you have the tools to effectively manage and report on your ESG initiatives.

Elevate your ESG reporting

‍ESG reporting can improve your business in many ways, including compliance, risk management, stakeholder engagement, reputation management, operational efficiency, and cost savings. Best of all, the insights the reporting provides can provide a springboard for your company to start making a more positive environmental and social impact.

Want to discover how KEY ESG can streamline your ESG management? Explore our offerings and request a personalised demo of our platform to transform your ESG strategy.