PwC and SAP have announced a new co-innovation strategy to make sustainability an integral part of standard business operations. The strategy is directed at creating trusted solutions to address key Environmental, Social and Governance (ESG) business challenges. It covers carbon measuring, reporting and steering as well as supply chain decarbonisation, climate risk and competitive analysis.
The new ESG strategy builds on the strength of the existing alliance between PwC and SAP, which has successfully delivered business transformation solutions to clients in more than 80 countries.
The strategy includes co-innovated solutions, created with PwC’s deep ESG and accounting expertise, aimed at enabling businesses to apply ESG metrics through their operations that are trustworthy, auditable and verifiable. The solutions leverage the SAP Cloud for Sustainable Enterprises solution, along with the SAP Sustainability Control Tower solution and the SAP Product Footprint Management solution. Together, PwC and SAP help organisations leverage the solutions they need to fulfil compliance requirements and drive growth to support the ever-increasing expectations of customers and investors.
They also assist customers in shaping the future of their net zero strategy and sustainability reporting.
The PwC and SAP strategy includes solutions encompassing an enterprise-wide ESG strategy, ranging from trading optimisation and tax credit recognition to third-party risk management and competitive analysis. Three top challenge areas for ESG, net zero and sustainability reporting will also be addressed:
Reporting and disclosure help to satisfy requirements to materially report and disclose investor-grade carbon measuring data to meet the demands of investors, lenders, regulators and customers.
Operationalising sustainability supporting the incorporation of ESG measures, especially carbon issues, directly into business functions, such as trading, capitalisation and tax.
Supply chain risk management, monitoring and compliance extending support for ESG measures to cover the impact of suppliers on organisational performance.
Solutions like PwC Germany’s award-winning Climate Excellence tool, based on SAP Business
Technology Platform, have already demonstrated the strength of the collaboration between the two organisations in bringing ESG innovation to market.
PwC and SAP are dedicated to helping organisations respond to the reporting and auditability requirements imposed by the European Financial Reporting Advisory Group (EFRAG) and the International Sustainability Standards Board (ISSB). They also support companies in complying with a related ruling proposed by the US Securities and Exchange Commission (SEC). Solutions provided by PwC and SAP enable the real-time, data-driven environment customers require to operate and grow the sustainable enterprise of the future.