What is ESG Software for CSRD Reporting?

ESG (Environmental, Social, and Governance) software for CSRD (Corporate Sustainability Reporting Directive) reporting helps organizations manage and report their sustainability data. These tools streamline data collection, ensure compliance with EU regulations, and facilitate transparent reporting on a company's environmental management, social responsibility, and governance practices​​.

What Features to Look for in CSRD Software?

• CSRD/ESG Sustainability Reporting Capabilities: The software should be optimized to comply with the latest EU Corporate Sustainability Reporting Directive (CSRD) requirements. This includes being purpose-built to meet stringent regulatory standards.

• Footprint GHG Calculation (CCF): Ensure the software can perform complete greenhouse gas (GHG) calculations across all three scopes: Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (all other indirect emissions). 

• Industry Focus: The solution matches functions required for your industry to even further make results accurate and track decarbonization.

• Automatic Report Creation: Look for software that offers automatic report creation capabilities. This feature should enable the generation of audit-ready reports with a single click, saving time and reducing the risk of human error. The reports should be well-designed and meet all regulatory and stakeholder requirements.

• Improvement & Decarbonization Features: The software should support improvement and decarbonization initiatives by providing tools for setting science-based targets, suggesting improvement ideas, and tracking progress over time. This functionality helps organizations to continuously improve their sustainability performance and achieve their decarbonization goals.

• AI-Support: AI-support features can significantly enhance efficiency and accuracy in sustainability reporting. Look for software that includes AI-powered reporting, document searching, and assistance tools. These features can save time, reduce manual effort, and improve the quality of reports.

• Employee Engagement Features: Effective sustainability reporting and initiatives often require active engagement and education from employees. The software should include features that facilitate collaboration, surveys, and crowdsourcing of ideas and integrating also stakeholders beyond that like suppliers and customers.

• Ease of Use: The software should be user-friendly, with an intuitive interface that requires minimal onboarding. It should offer robust support and collaboration features, making it easy for users to navigate and utilize all functionalities efficiently. Good software should reduce the complexity of sustainability reporting.

• Price: Cost is an important factor when choosing a software solution. The software should be affordable, offering good value for money considering its features and benefits. It is essential to balance cost with the functionalities provided to ensure the best return on investment.

The 9 Best CSRD Software in 2024

1. Footprint Intelligence

Footprint Intelligence is the all-in-one platform for automated CSRD & CCF reporting to drive real impact. It offers companies an AI-powered solution that enables decarbonization strategies involving employees and suppliers. The user experience and ease of use, combined with AI support that makes all steps easier make the solution stand out.

Website: https://www.footprint-intelligence.com/ 

Best for: Companies looking for complete CSRD management and easy compliance with the latest regulations but want fast results, less onboarding or consulting and see the value in AI to increase efficiency and effectiveness of corporate sustainability management. It also includes many features that make it exceptionally good for digital industries.

Features: Includes tools for complete Scope 1-3 GHG calculation with automated data integration, Double-Materiality Assessment, employee and supplier engagement, automated sustainability & CSRD reporting, and improvement tracking for decarbonization targets.

Pricing: Affordable

2. Workiva

Workiva specializes in financial and non-financial reporting, providing a robust platform for CSRD compliance. It integrates seamlessly with various data sources and offers powerful automation and collaboration tools.

Website: www.workiva.com

Best for: Companies needing comprehensive financial and non-financial reporting solutions and that looking for a software that covers topic beyond sustainability and include financial report features.

Features: Provides sustainability reporting, 1-click audit-ready report creation, and medium ease of use tailored for financial reporting.

Pricing: Medium

3. Daato

Daato focuses on automating ESG data collection and reporting. It offers comprehensive tools for carbon accounting and ensures compliance with CSRD requirements.

Website: https://www.daato.net/ 

Best for: Companies prioritizing automated data collection and reporting.

Features: Features include complete Scope 1-3 GHG calculation, mostly covered EU regulation optimization, and 1-click audit-ready report creation.

Pricing: Unknown

4. NordESG

NordESG provides robust ESG management tools tailored for sustainability reporting and carbon accounting. It supports integration with existing business processes for seamless data flow.

Website: https://nordesg.de

Best for: Companies seeking robust ESG management tools with seamless integration.

Features: Offers sustainability reporting, integration requiring different software for GHG calculation, and complex setup requiring consulting.

Pricing: Complex

5. SAP Control Sustainability Tower

SAP offers a comprehensive solution for integrating sustainability metrics into business operations. It supports CSRD compliance with detailed reporting and analytics features.

Website: https://www.sap.com/products/scm/sustainability-control-tower.html 

Best for: Large enterprises requiring extensive integration and compliance capabilities. It can be developed tailored to the organization and the required processes and operational preferences. Especially if other parts of the company are already using SAP it can be of benefit.

Features: Provides sustainability reporting, separate SAP product for complete Scope 1-3 GHG calculation, and partly covered EU regulation optimization.

Pricing: Comparably High

6. Sphera

Sphera provides a holistic view of ESG performance, focusing on risk management and compliance. Its features support detailed reporting and analysis for comprehensive sustainability management.

Website: https://sphera.com/

Best for: Companies focusing on comprehensive risk management and compliance.

Features: Includes complete Scope 1-3 GHG calculation, 1-click audit-ready report creation, and progress tracking for decarbonization.

Pricing: Unknown

7. Coolset

Coolset is designed for startups and SMEs, offering tools for emission management and CSRD compliance. It features detailed sustainability performance tracking and data analysis.

Website: https://www.coolset.com

Best for: Startups and SMEs focusing on emission management and compliance.

Features: Features emission management, detailed data analysis, and AI-reporting for improved efficiency.

Pricing: Custom pricing on request

8. NAVEX ESG

NAVEX provides an integrated solution for ESG compliance, consolidating data collection, analysis, and reporting. It emphasizes transparency and stakeholder engagement, suitable for businesses of all sizes.

Website: https://www.navex.com/en-us/ 

Best for: Businesses of all sizes looking to manage their ESG initiatives.

Features: Offers integrated data management, stakeholder engagement, and compliance tools.

Pricing: Custom pricing on request

9. Quentic

Quentic offers a cloud-based solution for managing ESG data, carbon accounting, and legal compliance. It supports real-time performance assessment and streamlined CSRD reporting.

Website: https://www.quentic.com/ 

Best for: Companies needing cloud-based ESG data management.

Features: Provides cloud-based management, real-time performance assessment, and comprehensive legal compliance support.

Pricing: Custom pricing on request

Disclaimer

The information and data referenced in this article are accurate as of October 2024. Any developments or changes occurring after this date may not be reflected in the content of the article.